Marketing in the insurance industry is shaped by how 6,500 U.S. insurers connect with customers through digital channels, search, email, and mobile. Along the way, tighter compliance and real budget decisions influence what personalization can actually look like. This page connects key market shifts—like the growing software and CRM landscape and changing online buying behavior—with practical data-quality and segmentation insights.
Key Takeaways
- $13.8 billion global insurance marketing software market size forecast for 2032
- $3.4 billion global insurance CRM market size in 2023
- $7.7 billion global insurance digital marketing market size in 2023
- 58% of marketing leaders at financial services firms reported increasing marketing budgets in 2023
- 10% of marketing spend wasted on poor-quality data (financial services benchmark, 2020)
- On average, 24% of customer data records are inaccurate, according to Gartner’s 2022 research on data quality (data decay).
- 35% of insurers have implemented marketing personalization using customer data platforms (2023 survey)
- 28% of consumers purchased insurance via an online quote flow in 2023 (U.S.)
- 73% of consumers use search engines to find information before purchasing insurance, according to a 2021 survey by the Insurance Marketing and Communications Association (IMCA) and OneReach.
- 49% of insurance marketers reported that generating leads is their top challenge (2023 survey)
- 61% of insurers say compliance requirements constrain their marketing personalization efforts (2023 survey)
- 6,500 insurance companies in the U.S. (2022)
- 31% increase in email engagement rate after list hygiene and segmentation (financial services benchmark, 2022)
Insurance marketers are investing heavily in digital and data driven personalization, despite waste from poor data quality.
Related reading
01 · Category
Market Size7 stats
01
$13.8 billion global insurance marketing software market size forecast for 2032
02
$3.4 billion global insurance CRM market size in 2023
03
$7.7 billion global insurance digital marketing market size in 2023
04
$9.5 billion U.S. advertising expenditures for insurance products and services in 2023
05
$21.5 billion global marketing automation software market size forecast for 2030
06
11.8% CAGR for customer data platform market (forecast period)
07
U.S. insurance premiums written via online channels reached $324.4 billion in 2022, representing 12.4% of total U.S. premiums, according to Insurance Information Institute analysis of industry data.
Interpretation
Market Size Interpretation
Market size signals strong momentum, with global insurance marketing software projected to reach $13.8 billion by 2032 and global marketing automation software forecast to grow to $21.5 billion by 2030, alongside a 11.8% CAGR for customer data platforms over the forecast period.
02 · Category
Budget Allocation1 stats
01
58% of marketing leaders at financial services firms reported increasing marketing budgets in 2023
Interpretation
Budget Allocation Interpretation
In the budget allocation category, 58% of marketing leaders at financial services firms reported increasing marketing budgets in 2023, signaling a clear shift toward greater investment in marketing.
03 · Category
Cost Analysis6 stats
01
10% of marketing spend wasted on poor-quality data (financial services benchmark, 2020)
02
On average, 24% of customer data records are inaccurate, according to Gartner’s 2022 research on data quality (data decay).
03
24% of customer records are inaccurate in 2022 (data decay), implying a data-quality-driven waste component
04
14% of data was inaccurate in 2019 (indicating a measurable data-quality waste driver for marketing operations)
05
27% of B2B marketers reported inaccurate data causes wasted spend in 2017 (data-quality-driven waste driver)
06
30% of customer data quality issues are caused by inaccurate or outdated data in 2016 (data-quality waste driver)
Interpretation
Cost Analysis Interpretation
Cost Analysis shows a clear data cost drain in insurance marketing, where 10% of spend is wasted due to poor quality data and another 24% of customer records are inaccurate on average, making data quality a major driver of wasted marketing budgets.
More related reading
report visual · Comparison
Insurance Marketing Spend Waste from Data Inaccuracy (2016–2022)
Data-quality waste tied to inaccurate customer data is rising overall—2022 shows the highest share (leader: 2022), creating a gap versus earlier years like 2016 and 2019 that indic
30% of customer data quality issues are caused by inaccurate or outdated data in 2016 (data-quality waste driver)30%
27% of B2B marketers reported inaccurate data causes wasted spend in 2017 (data-quality-driven waste driver)
27%
24% of customer records are inaccurate in 2022 (data decay), implying a data-quality-driven waste component
24%
14% of data was inaccurate in 2019 (indicating a measurable data-quality waste driver for marketing operations)
14%
source-verifiedforrester.com · greenbook.com · gartner.com2022
04 · Category
User Adoption6 stats
01
35% of insurers have implemented marketing personalization using customer data platforms (2023 survey)
02
28% of consumers purchased insurance via an online quote flow in 2023 (U.S.)
03
73% of consumers use search engines to find information before purchasing insurance, according to a 2021 survey by the Insurance Marketing and Communications Association (IMCA) and OneReach.
04
64% of insurance agents reported using mobile devices for marketing or customer interactions in 2022, according to a LIMRA/ LOMA survey.
05
48% of marketers reported adopting CRM systems as part of their marketing operations in 2023, according to the 2023 HubSpot State of Marketing report.
06
53% of organizations said they use marketing analytics to measure campaign performance, according to the 2023 Gartner Marketing Analytics survey (as summarized in Gartner’s marketing analytics insights).
Interpretation
User Adoption Interpretation
Under the User Adoption lens, adoption is accelerating across the funnel, with 35% of insurers using personalization via customer data platforms and 48% of marketers using CRM systems, while 73% of consumers rely on search engines before buying and 28% already complete online quote flows.
05 · Category
Industry Trends7 stats
01
49% of insurance marketers reported that generating leads is their top challenge (2023 survey)
02
61% of insurers say compliance requirements constrain their marketing personalization efforts (2023 survey)
03
6,500 insurance companies in the U.S. (2022)
04
66% of consumers expect companies to understand their needs and preferences, and 52% will switch to a competitor if a company doesn't personalize experiences, according to Salesforce’s 2023 State of Marketing report.
05
49% of insurers reported that customer retention is a top priority, according to a 2023 S&P Global Market Intelligence survey of insurance executives.
06
Insurance buyers in the U.S. spent $9.5 billion on advertising in 2023 (includes both direct response and brand advertising), per S&P Global Market Intelligence estimates.
07
34% of consumers say they would switch insurers after a poor claims experience, according to a 2020 study by J.D. Power.
Interpretation
Industry Trends Interpretation
Industry Trends in insurance marketing are being shaped by a clear push toward growth and customer experience, with 49% of marketers naming lead generation as their top challenge and 52% of consumers ready to switch if personalization falls short, while compliance constraints keep personalization at only 61% of insurers.
06 · Category
Performance Metrics1 stats
01
31% increase in email engagement rate after list hygiene and segmentation (financial services benchmark, 2022)
Interpretation
Performance Metrics Interpretation
A 31% increase in email engagement rate after list hygiene and segmentation shows that performance metrics in insurance marketing can improve dramatically when targeting is cleaned up and better tailored.
Reference
Cite This Report
This report is designed to be cited. We maintain stable URLs and versioned verification dates. Copy the format appropriate for your publication below.
APA
Margot Villeneuve. (2026, February 13). Marketing In The Insurance Industry Statistics. Gitnux. https://gitnux.org/marketing-in-the-insurance-industry-statistics
MLA
Margot Villeneuve. "Marketing In The Insurance Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/marketing-in-the-insurance-industry-statistics.
Chicago
Margot Villeneuve. 2026. "Marketing In The Insurance Industry Statistics." Gitnux. https://gitnux.org/marketing-in-the-insurance-industry-statistics.
Sources & references
28 datasets cited across this report · attribution is report-level
+8 additional datasets cited (not shown individually)