GITNUXREPORT 2026

Technology Insurance Industry Statistics

Insurtech is booming as cyber insurance claims surge with rising ransomware attacks.

Rajesh Patel

Team Lead & Senior Researcher with over 15 years of experience in market research and data analytics.

First published: Feb 13, 2026

Our Commitment to Accuracy

Rigorous fact-checking · Reputable sources · Regular updatesLearn more

Statistic 1

78% of tech executives report cyber insurance as critical for digital transformation in 2023 surveys.

Statistic 2

Tech startup cyber policy adoption rose to 65% in 2023 from 45% in 2021.

Statistic 3

92% of Fortune 500 tech firms carry cyber insurance with avg limits of $250M.

Statistic 4

Embedded cyber insurance in SaaS platforms saw 40% uptake among SMB tech users in 2023.

Statistic 5

55% of EU tech firms increased cyber limits by 50% post-GDPR enforcement data.

Statistic 6

Tech E&O policy penetration reached 82% for public software companies in 2023.

Statistic 7

70% of cloud service providers adopted parametric cyber insurance in 2023.

Statistic 8

Insurtech app downloads for tech insurance policies hit 12 million in 2023.

Statistic 9

48% of tech SMBs purchased cyber insurance via digital brokers in 2023.

Statistic 10

D&O uptake among pre-IPO tech firms climbed to 88% with cyber riders.

Statistic 11

62% of AI startups secured specialized tech liability coverage in 2023.

Statistic 12

Mobile-first insurtech policies for tech gadgets reached 25 million users globally in 2023.

Statistic 13

75% of blockchain firms adopted crypto risk insurance extensions in 2023.

Statistic 14

Tech HR departments drove 35% increase in group cyber training insurance bundles.

Statistic 15

Parametric weather-cyber hybrid policies adopted by 20% of data centers in 2023.

Statistic 16

85% retention rate for cyber renewals in tech sector despite 15% rate hikes.

Statistic 17

Cyber insurance covers 60% of avg breach costs for mid-sized tech firms.

Statistic 18

67% of CISOs in tech mandate cyber coverage in vendor contracts.

Statistic 19

Fintech insurtech adoption hit 90% for cyber among top 100 firms.

Statistic 20

Tech VC firms require E&O proof for 75% of Series B investments.

Statistic 21

52% growth in cyber policy binds for remote tech workforces.

Statistic 22

IoT insurtech policies issued to 15M devices in consumer tech 2023.

Statistic 23

80% of Nasdaq-listed tech has cyber limits over $100M.

Statistic 24

Digital twins tech adopted insurance modeling in 30% of firms.

Statistic 25

Group cyber insurance for tech contractors up 40% in enrollments.

Statistic 26

71% of edtech platforms bundled cyber with student data policies.

Statistic 27

AR/VR tech events saw 45% cyber rider attachment rates.

Statistic 28

Global tech cyber claims paid out totaled $3.2 billion in 2023, up 50% YoY.

Statistic 29

Average tech cyber claim cost was $4.82 million in 2023 per Ponemon study.

Statistic 30

Ransomware claims accounted for 66% of all cyber payouts in tech, averaging $1.54M each.

Statistic 31

Tech E&O claims frequency rose 28% in 2023 due to software bug litigations.

Statistic 32

40% of cyber claims denied in 2023 for tech firms due to notice failures.

Statistic 33

Business interruption from cyber averaged 45% of total claim values in tech.

Statistic 34

Supply chain cyber claims surged 60%, with avg payout $8.5M for tech OEMs.

Statistic 35

Data privacy fines contributed 22% to tech regulatory cyber claims in 2023.

Statistic 36

Tech patent infringement claims under IP insurance hit $1.1B payouts.

Statistic 37

Average settlement for tech class actions in E&O claims was $12.4M in 2023.

Statistic 38

Cyber claims cycle time averaged 14 months for tech complex incidents.

Statistic 39

55% of tech claims involved third-party vendors, increasing loss severity.

Statistic 40

Directors' liability claims from cyber breaches totaled $450M in tech payouts.

Statistic 41

Property damage from cyber-physical attacks rare but avg $20M per tech claim.

Statistic 42

Tech claims loss ratio for cyber averaged 72% in 2023 renewals.

Statistic 43

1,300 cyber claims filed by tech firms in H1 2023 alone.

Statistic 44

E&O defense costs consumed 25% of tech claim reserves.

Statistic 45

Multi-year cyber claims trends show 15% annual severity growth.

Statistic 46

Pixel tracking privacy claims led to $300M in tech settlements.

Statistic 47

Firmware vulnerability claims averaged $3.8M in hardware tech.

Statistic 48

Cyber reinsurance recoveries hit $900M for primary tech carriers.

Statistic 49

Notification costs post-breach averaged $350k per tech incident.

Statistic 50

Tech IP theft claims under fidelity bonds totaled $250M.

Statistic 51

Silent cyber exclusions prevented $1.2B in unintended payouts.

Statistic 52

Avg tech cyber forensic investigation cost $1.1M per claim.

Statistic 53

Cyber insurance attachment rates for large tech firms reached 95% coverage penetration in 2023.

Statistic 54

Average ransomware payout demands rose to $2.4 million in 2023, with 75% of cyber claims involving ransomware.

Statistic 55

Tech sector cyber incidents increased 42% YoY in 2023, with 1,200 major breaches reported.

Statistic 56

Limit adequacy issues affected 30% of cyber claims in 2023, leading to 20% premium hikes.

Statistic 57

Phishing remains top cyber threat for tech firms, causing 36% of breaches with avg cost $4.9M.

Statistic 58

Cloud misconfiguration vulnerabilities led to 19% of tech cyber claims in 2023.

Statistic 59

Supply chain cyber risks impacted 45% of Fortune 1000 tech companies in 2023 surveys.

Statistic 60

Average cyber claim severity hit $4.5 million in 2023 for tech E&O policies.

Statistic 61

IoT device exploits rose 150% in tech insurance claims data for 2023.

Statistic 62

Third-party cyber risks accounted for 61% of tech sector breaches in 2023.

Statistic 63

AI-generated deepfake attacks surged 300% in tech firms, per 2023 cyber reports.

Statistic 64

Cyber extortion claims in tech grew 50% to $1.8 billion paid out in 2023.

Statistic 65

Zero-day exploits in supply chain software caused 25% of high-severity tech claims.

Statistic 66

Social engineering cyber losses for tech averaged $1.2M per incident in 2023.

Statistic 67

Quantum computing threats prompted 15% of tech firms to seek enhanced cyber coverage in 2023.

Statistic 68

Average cyber premium per $1M limit for tech firms was $45,000 in 2023.

Statistic 69

DDoS attacks caused $2.5 billion in tech downtime claims in 2023.

Statistic 70

Insider threats accounted for 20% of tech cyber incidents with avg cost $15M.

Statistic 71

Misconfigured APIs led to 28% of SaaS cyber breaches in 2023 claims.

Statistic 72

Healthcare-tech hybrid cyber claims averaged $9.2M severity in 2023.

Statistic 73

Crypto wallet hacks resulted in $1.7B losses for fintech-tech firms.

Statistic 74

OT cyber risks in manufacturing tech rose 55% in incident reports.

Statistic 75

Email compromise schemes cost tech firms $500M in fraudulent transfers.

Statistic 76

5G network vulnerabilities featured in 12% of telco-tech cyber claims.

Statistic 77

Legacy system exploits caused 35% of prolonged cyber outages in tech.

Statistic 78

Global insurtech market projected to reach $153 billion by 2030 at 37% CAGR.

Statistic 79

Cyber insurance premiums expected to hit $25 billion globally by 2025.

Statistic 80

U.S. tech E&O market forecasted to grow 12% annually to $4B by 2028.

Statistic 81

AI-driven insurtech projected to capture 25% of P&C premiums by 2030.

Statistic 82

Parametric tech disruption insurance to reach $2B premiums by 2027.

Statistic 83

Cyber risk accumulation projected to exceed $1T in exposed limits by 2025.

Statistic 84

Embedded insurance via tech APIs expected to grow to $722B GWP by 2030.

Statistic 85

Asia insurtech premiums forecasted at 40% CAGR to $60B by 2030.

Statistic 86

Tech D&O rates to stabilize with 5-10% increases through 2026.

Statistic 87

Quantum-safe cyber insurance products to emerge by 2028, covering 10% market.

Statistic 88

Insurtech unicorns projected to triple to 75 by 2027 with $50B valuation.

Statistic 89

Cyber claims severity expected to rise 20% annually to $10M avg by 2027.

Statistic 90

Blockchain insurtech to handle 15% of reinsurance by 2030.

Statistic 91

Tech SMB cyber penetration forecasted at 80% by 2026.

Statistic 92

Global cyber catastrophe bonds issuance to reach $5B annually by 2028.

Statistic 93

Cyber insurance to represent 5% of global P&C premiums by 2030.

Statistic 94

Insurtech ROI projected at 3x for tech adopters by 2028.

Statistic 95

Climate-tech insurance market to grow to $50B by 2032.

Statistic 96

Metaverse liability coverage expected in 20% of VR tech policies by 2027.

Statistic 97

Generative AI litigation risks to drive 25% E&O premium growth.

Statistic 98

Edge computing cyber premiums forecasted to $800M by 2026.

Statistic 99

Insurtech blockchain claims processing to reduce times 70% by 2027.

Statistic 100

The global insurtech market size was valued at $10.5 billion in 2022 and is projected to grow to $152.4 billion by 2032 at a CAGR of 31.3%.

Statistic 101

Cyber insurance premiums worldwide reached $14.3 billion in 2023, up 23% from the previous year driven by escalating ransomware attacks.

Statistic 102

The U.S. cyber insurance market grew by 118% in direct premiums written from 2018 to 2022, totaling $6.8 billion.

Statistic 103

Insurtech investments hit $4.7 billion in 2022 across 430 deals, focusing on AI and blockchain technologies.

Statistic 104

The technology E&O insurance segment expanded by 15% in 2023, with premiums exceeding $2.5 billion globally.

Statistic 105

Embedded insurance in tech platforms generated $1.2 billion in premiums in 2023, expected to quadruple by 2027.

Statistic 106

The Asia-Pacific insurtech market is forecasted to grow at 32.5% CAGR from 2023-2030, reaching $45 billion.

Statistic 107

U.S. professional liability insurance for tech firms saw a 12% premium increase in 2023 due to AI litigation risks.

Statistic 108

Global D&O insurance for tech startups rose 20% in capacity to $15 billion in 2023 amid IPO slowdowns.

Statistic 109

Insurtech VC funding in Europe dropped to $1.1 billion in 2023 from $2.5 billion in 2021.

Statistic 110

The cyber insurance market in Europe grew 25% to €3.5 billion in 2023, led by Germany and UK.

Statistic 111

Tech E&O rates for SaaS companies increased 10-15% in 2023, with average premiums at $450k per $10M limit.

Statistic 112

Global parametric insurance for tech disruptions hit $500 million in 2023 premiums.

Statistic 113

U.S. tech insurance brokerage revenues grew 18% to $8.2 billion in 2023.

Statistic 114

Insurtech M&A deals totaled 150 in 2023, valued at $3.2 billion globally.

Statistic 115

The insurtech market in North America is expected to grow at a CAGR of 29.7% from 2023 to 2030.

Statistic 116

European cyber insurance market capacity increased by 30% to €5 billion in 2023.

Statistic 117

Tech media liability premiums surged 18% to $1.8 billion globally in 2023.

Statistic 118

U.S. cyber insurance submissions rose 35% in Q4 2023 amid rate stabilization.

Statistic 119

Insurtech platforms processed 20% of tech insurance quotes digitally in 2023.

Statistic 120

Latin America insurtech funding reached $450 million across 50 deals in 2023.

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As staggering growth propels the insurtech market from $10.5 billion toward a projected $152.4 billion, a revolution is unfolding at the intersection of technology and risk.

Key Takeaways

The global insurtech market size was valued at $10.5 billion in 2022 and is projected to grow to $152.4 billion by 2032 at a CAGR of 31.3%.
Cyber insurance premiums worldwide reached $14.3 billion in 2023, up 23% from the previous year driven by escalating ransomware attacks.
The U.S. cyber insurance market grew by 118% in direct premiums written from 2018 to 2022, totaling $6.8 billion.
Cyber insurance attachment rates for large tech firms reached 95% coverage penetration in 2023.
Average ransomware payout demands rose to $2.4 million in 2023, with 75% of cyber claims involving ransomware.
Tech sector cyber incidents increased 42% YoY in 2023, with 1,200 major breaches reported.
78% of tech executives report cyber insurance as critical for digital transformation in 2023 surveys.
Tech startup cyber policy adoption rose to 65% in 2023 from 45% in 2021.
92% of Fortune 500 tech firms carry cyber insurance with avg limits of $250M.
Global tech cyber claims paid out totaled $3.2 billion in 2023, up 50% YoY.
Average tech cyber claim cost was $4.82 million in 2023 per Ponemon study.
Ransomware claims accounted for 66% of all cyber payouts in tech, averaging $1.54M each.
Global insurtech market projected to reach $153 billion by 2030 at 37% CAGR.
Cyber insurance premiums expected to hit $25 billion globally by 2025.
U.S. tech E&O market forecasted to grow 12% annually to $4B by 2028.

Insurtech is booming as cyber insurance claims surge with rising ransomware attacks.

Adoption Rates

78% of tech executives report cyber insurance as critical for digital transformation in 2023 surveys.
Tech startup cyber policy adoption rose to 65% in 2023 from 45% in 2021.
92% of Fortune 500 tech firms carry cyber insurance with avg limits of $250M.
Embedded cyber insurance in SaaS platforms saw 40% uptake among SMB tech users in 2023.
55% of EU tech firms increased cyber limits by 50% post-GDPR enforcement data.
Tech E&O policy penetration reached 82% for public software companies in 2023.
70% of cloud service providers adopted parametric cyber insurance in 2023.
Insurtech app downloads for tech insurance policies hit 12 million in 2023.
48% of tech SMBs purchased cyber insurance via digital brokers in 2023.
D&O uptake among pre-IPO tech firms climbed to 88% with cyber riders.
62% of AI startups secured specialized tech liability coverage in 2023.
Mobile-first insurtech policies for tech gadgets reached 25 million users globally in 2023.
75% of blockchain firms adopted crypto risk insurance extensions in 2023.
Tech HR departments drove 35% increase in group cyber training insurance bundles.
Parametric weather-cyber hybrid policies adopted by 20% of data centers in 2023.
85% retention rate for cyber renewals in tech sector despite 15% rate hikes.
Cyber insurance covers 60% of avg breach costs for mid-sized tech firms.
67% of CISOs in tech mandate cyber coverage in vendor contracts.
Fintech insurtech adoption hit 90% for cyber among top 100 firms.
Tech VC firms require E&O proof for 75% of Series B investments.
52% growth in cyber policy binds for remote tech workforces.
IoT insurtech policies issued to 15M devices in consumer tech 2023.
80% of Nasdaq-listed tech has cyber limits over $100M.
Digital twins tech adopted insurance modeling in 30% of firms.
Group cyber insurance for tech contractors up 40% in enrollments.
71% of edtech platforms bundled cyber with student data policies.
AR/VR tech events saw 45% cyber rider attachment rates.

Adoption Rates Interpretation

In the tech industry, survival is no longer just about innovation but about inoculation, as executives increasingly trade their "move fast and break things" ethos for a more prudent "move fast and insure things" policy.

Claims & Payouts

Global tech cyber claims paid out totaled $3.2 billion in 2023, up 50% YoY.
Average tech cyber claim cost was $4.82 million in 2023 per Ponemon study.
Ransomware claims accounted for 66% of all cyber payouts in tech, averaging $1.54M each.
Tech E&O claims frequency rose 28% in 2023 due to software bug litigations.
40% of cyber claims denied in 2023 for tech firms due to notice failures.
Business interruption from cyber averaged 45% of total claim values in tech.
Supply chain cyber claims surged 60%, with avg payout $8.5M for tech OEMs.
Data privacy fines contributed 22% to tech regulatory cyber claims in 2023.
Tech patent infringement claims under IP insurance hit $1.1B payouts.
Average settlement for tech class actions in E&O claims was $12.4M in 2023.
Cyber claims cycle time averaged 14 months for tech complex incidents.
55% of tech claims involved third-party vendors, increasing loss severity.
Directors' liability claims from cyber breaches totaled $450M in tech payouts.
Property damage from cyber-physical attacks rare but avg $20M per tech claim.
Tech claims loss ratio for cyber averaged 72% in 2023 renewals.
1,300 cyber claims filed by tech firms in H1 2023 alone.
E&O defense costs consumed 25% of tech claim reserves.
Multi-year cyber claims trends show 15% annual severity growth.
Pixel tracking privacy claims led to $300M in tech settlements.
Firmware vulnerability claims averaged $3.8M in hardware tech.
Cyber reinsurance recoveries hit $900M for primary tech carriers.
Notification costs post-breach averaged $350k per tech incident.
Tech IP theft claims under fidelity bonds totaled $250M.
Silent cyber exclusions prevented $1.2B in unintended payouts.
Avg tech cyber forensic investigation cost $1.1M per claim.

Claims & Payouts Interpretation

The tech industry’s insurance bills are soaring because it turns out building a digital future is like hosting a party where half the guests are ransomware gangs, a quarter are lawyers, and the most expensive damage usually comes from your own overlooked software bugs and late paperwork.

Cyber Risks

Cyber insurance attachment rates for large tech firms reached 95% coverage penetration in 2023.
Average ransomware payout demands rose to $2.4 million in 2023, with 75% of cyber claims involving ransomware.
Tech sector cyber incidents increased 42% YoY in 2023, with 1,200 major breaches reported.
Limit adequacy issues affected 30% of cyber claims in 2023, leading to 20% premium hikes.
Phishing remains top cyber threat for tech firms, causing 36% of breaches with avg cost $4.9M.
Cloud misconfiguration vulnerabilities led to 19% of tech cyber claims in 2023.
Supply chain cyber risks impacted 45% of Fortune 1000 tech companies in 2023 surveys.
Average cyber claim severity hit $4.5 million in 2023 for tech E&O policies.
IoT device exploits rose 150% in tech insurance claims data for 2023.
Third-party cyber risks accounted for 61% of tech sector breaches in 2023.
AI-generated deepfake attacks surged 300% in tech firms, per 2023 cyber reports.
Cyber extortion claims in tech grew 50% to $1.8 billion paid out in 2023.
Zero-day exploits in supply chain software caused 25% of high-severity tech claims.
Social engineering cyber losses for tech averaged $1.2M per incident in 2023.
Quantum computing threats prompted 15% of tech firms to seek enhanced cyber coverage in 2023.
Average cyber premium per $1M limit for tech firms was $45,000 in 2023.
DDoS attacks caused $2.5 billion in tech downtime claims in 2023.
Insider threats accounted for 20% of tech cyber incidents with avg cost $15M.
Misconfigured APIs led to 28% of SaaS cyber breaches in 2023 claims.
Healthcare-tech hybrid cyber claims averaged $9.2M severity in 2023.
Crypto wallet hacks resulted in $1.7B losses for fintech-tech firms.
OT cyber risks in manufacturing tech rose 55% in incident reports.
Email compromise schemes cost tech firms $500M in fraudulent transfers.
5G network vulnerabilities featured in 12% of telco-tech cyber claims.
Legacy system exploits caused 35% of prolonged cyber outages in tech.

Cyber Risks Interpretation

By 2023, the tech industry had so thoroughly professionalized its own victimhood that 95% of firms were insured for a parade of digital horrors—from $4.5 million average ransoms to a 300% surge in deepfake attacks—proving that in the race between building better defenses and buying a better policy, the policy is winning.

Future Projections

Global insurtech market projected to reach $153 billion by 2030 at 37% CAGR.
Cyber insurance premiums expected to hit $25 billion globally by 2025.
U.S. tech E&O market forecasted to grow 12% annually to $4B by 2028.
AI-driven insurtech projected to capture 25% of P&C premiums by 2030.
Parametric tech disruption insurance to reach $2B premiums by 2027.
Cyber risk accumulation projected to exceed $1T in exposed limits by 2025.
Embedded insurance via tech APIs expected to grow to $722B GWP by 2030.
Asia insurtech premiums forecasted at 40% CAGR to $60B by 2030.
Tech D&O rates to stabilize with 5-10% increases through 2026.
Quantum-safe cyber insurance products to emerge by 2028, covering 10% market.
Insurtech unicorns projected to triple to 75 by 2027 with $50B valuation.
Cyber claims severity expected to rise 20% annually to $10M avg by 2027.
Blockchain insurtech to handle 15% of reinsurance by 2030.
Tech SMB cyber penetration forecasted at 80% by 2026.
Global cyber catastrophe bonds issuance to reach $5B annually by 2028.
Cyber insurance to represent 5% of global P&C premiums by 2030.
Insurtech ROI projected at 3x for tech adopters by 2028.
Climate-tech insurance market to grow to $50B by 2032.
Metaverse liability coverage expected in 20% of VR tech policies by 2027.
Generative AI litigation risks to drive 25% E&O premium growth.
Edge computing cyber premiums forecasted to $800M by 2026.
Insurtech blockchain claims processing to reduce times 70% by 2027.

Future Projections Interpretation

As the global insurtech market rockets towards $153 billion, we're witnessing a dramatic shift where insurers must now insure not just the tech, but also themselves from the very risks that tech creates, while simultaneously using that same tech to sell, price, and process policies for an increasingly digital and perilous world.

Market Size & Growth

The global insurtech market size was valued at $10.5 billion in 2022 and is projected to grow to $152.4 billion by 2032 at a CAGR of 31.3%.
Cyber insurance premiums worldwide reached $14.3 billion in 2023, up 23% from the previous year driven by escalating ransomware attacks.
The U.S. cyber insurance market grew by 118% in direct premiums written from 2018 to 2022, totaling $6.8 billion.
Insurtech investments hit $4.7 billion in 2022 across 430 deals, focusing on AI and blockchain technologies.
The technology E&O insurance segment expanded by 15% in 2023, with premiums exceeding $2.5 billion globally.
Embedded insurance in tech platforms generated $1.2 billion in premiums in 2023, expected to quadruple by 2027.
The Asia-Pacific insurtech market is forecasted to grow at 32.5% CAGR from 2023-2030, reaching $45 billion.
U.S. professional liability insurance for tech firms saw a 12% premium increase in 2023 due to AI litigation risks.
Global D&O insurance for tech startups rose 20% in capacity to $15 billion in 2023 amid IPO slowdowns.
Insurtech VC funding in Europe dropped to $1.1 billion in 2023 from $2.5 billion in 2021.
The cyber insurance market in Europe grew 25% to €3.5 billion in 2023, led by Germany and UK.
Tech E&O rates for SaaS companies increased 10-15% in 2023, with average premiums at $450k per $10M limit.
Global parametric insurance for tech disruptions hit $500 million in 2023 premiums.
U.S. tech insurance brokerage revenues grew 18% to $8.2 billion in 2023.
Insurtech M&A deals totaled 150 in 2023, valued at $3.2 billion globally.
The insurtech market in North America is expected to grow at a CAGR of 29.7% from 2023 to 2030.
European cyber insurance market capacity increased by 30% to €5 billion in 2023.
Tech media liability premiums surged 18% to $1.8 billion globally in 2023.
U.S. cyber insurance submissions rose 35% in Q4 2023 amid rate stabilization.
Insurtech platforms processed 20% of tech insurance quotes digitally in 2023.
Latin America insurtech funding reached $450 million across 50 deals in 2023.

Market Size & Growth Interpretation

It seems the insurance industry has finally realized that our digital world is less Fort Knox and more "please don't hack me," as runaway cyber threats and a tech investment boom have spawned a gold rush of companies scrambling to both insure and digitize the very technology that keeps creating these expensive new risks.