Insurance Industry & InsurTech Report — Oct 10, 2026
DB Insurance and Shinhan Life have taken corrective measures regarding exaggerated healthcare service advertisements in South Korea, while Mirae Asset Life Insurance is accelerating its transformation into an "AI-native insurer." Globally, the InsurTech market powered by AI and cloud computing is projected to grow at a compound annual growth rate of 41.45% through 2035.
Insurance Industry & InsurTech Report — Oct 10, 2026
Domestic Insurance Industry Trends
DB Insurance and Shinhan Life have strengthened their advertising management systems for healthcare services attached to insurance products and promised corrective measures. Both insurers are rectifying problematic elements in previous advertisements and overhauling their internal control systems to prevent recurrence.
Mirae Asset Life Insurance is accelerating its transformation into an "AI-native insurer" by integrating artificial intelligence (AI) across its entire insurance business. Going beyond simple administrative support, the company is actively deploying AI into core operations such as internal infrastructure, underwriting, digital healthcare, and variable insurance.
Global InsurTech and Healthcare Performance
The global InsurTech market is projected to expand to $638 billion by 2035, registering a compound annual growth rate of 41.45% driven by advancements in AI, cloud, and automation technologies. These technologies are contributing to cost reduction, faster claim processing, and improved underwriting.
The global health insurance market is predicted to grow from $2.0648 trillion in 2025 at a CAGR of 5.8% to reach $3.5103 trillion by 2034.
InsurTech startup Outro secured $7.0 million in funding to develop a platform assisting with de-prescribing, while Rightway raised $155 million to expand its pharmacy benefits technology.
Market Insights and Analysis
Recent cases show that the convergence of insurance and healthcare is evolving beyond simple auxiliary services into sophisticated AI-driven risk management and personalized service delivery. Domestic insurers enhancing the transparency of healthcare services and applying AI technology to core tasks is interpreted as a strategy to simultaneously build trust and drive operational efficiency.
Globally, AI and cloud technologies are driving the explosive growth of the InsurTech market, with the automation of underwriting and claims processes acting as key growth drivers. Furthermore, active investments in healthcare-specific technologies—such as medication adherence optimization and pharmacy benefit management—suggest that insurers are likely to expand their roles from traditional compensation providers into preventive health management partners.
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