In 2023, the global Specialty Insurance software market surged to nearly $4.2 billion, growing by 10.8%. The top 10 vendors commanded a significant 46.5% market share, with Salesforce leading at 13.9%, followed by Microsoft, Roper Technologies, Oracle, and ServiceNow.

Our APPS TOP 500 Market Report (Preview) covers hundreds of Specialty Insurance software vendors, offering deep insights into market dynamics, vendor strengths, AI investments, customer momentum, and go-to-market strategies providing valuable perspectives on market trends and challenges.

Discover thousands of Specialty Insurance Customer Wins with the ARTW Technographics Platform, an essential resource for technology enthusiasts, sales business leaders, and data-driven marketing executives, offering curated insights into the evolving landscape of the software industry, including the latest developments in Specialty Insurance.

2023 Specialty Insurance Applications Market Shares Split By Top 10 Specialty Insurance Applications Market Shares Vendors and Others
Exhibit 1 – 2023 Specialty Insurance Applications Market Shares Split By Top 10 Specialty Insurance Vendors and Others

Through our forecast period, the Specialty Insurance applications market is expected to reach $5.2 billion by 2028, compared with $4.2 billion in 2021 at a compound annual growth rate of 4.3%.

Exhibit 2: Worldwide Specialty Insurance Software Market 2023-2028 Forecast, $M
Year202320282023-2028 CAGR, %
Total421352044.3%

Source: Apps Run The World, June 2024

Top 10 Specialty Insurance Software vendors

Specialty Insurance (Entities that offer non-compulsory insurance of any kind) – Agency management system, Policy administration solutions, Pensions administration software, Billing and Claims software, Underwriting, Insurance Broker and Financial Planning Software, Financials, HR, Procurement

Big Data analytics will be one of the key investment areas for insurers aiming to capture and gain more insights on their customers while stepping up Cloud developments for tighter collaboration with agencies and brokers in moves that could redefine how insurance is being sold in the future.

Here are the rankings of the top 10 Specialty Insurance software vendors in 2023 and their market shares.

RankVendor2021 Specialty Insurance Apps Revenues, $M2022 Specialty Insurance Apps Revenues, $M2023 Specialty Insurance Apps Revenues, $MYoY Growth2023 Specialty (Crop, Maritime) Insurance Market Share, %
1Salesforce Subscribe Subscribe Subscribe 6.3% Subscribe
2Microsoft Subscribe Subscribe Subscribe 7.0% Subscribe
3Roper Technologies, Inc. Subscribe Subscribe Subscribe 22.4% Subscribe
4Oracle Subscribe Subscribe Subscribe 7.9% Subscribe
5ServiceNow Subscribe Subscribe Subscribe 25.1% Subscribe
6Adobe Subscribe Subscribe Subscribe 13.0% Subscribe
7Google Subscribe Subscribe Subscribe 22.9% Subscribe
8Applied Systems Inc. Subscribe Subscribe Subscribe 3.6% Subscribe
9HubSpot Subscribe Subscribe Subscribe 25.4% Subscribe
10SAP Subscribe Subscribe Subscribe 5.7% Subscribe
Subtotal Subscribe Subscribe Subscribe 10.8% Subscribe
Other Subscribe Subscribe Subscribe 10.7% Subscribe
Total35293804421310.8%100.0%

Source: Apps Run The World, June 2024

Other Specialty Insurance software providers included in the report are: ACI Worldwide, Inc., ADP, Aptitude Software, Atlassian, Acturis Group, Asseco Group, Aurea, CCC Intelligent Solutions, eBaoTech Corporation, BriteCore, Insuresoft, EIS Group, Cegedim, Cisco Systems, Citrix, Constellation Software Inc., Cornerstone OnDemand, DATEV, DocuSign, Inc., Dropbox, Edgeverve, an Infosys company, Edlund A/S, Envestnet, Equifax, Exela Technologies, Inc., Fadata, FICO, FIS Global, Fiserv, Genesys Telecommunications Laboratories, GoodData, Google, HubSpot, Hypoport SE, IBM, Insurity, Inc., Intuit Inc., Keylane, Kofax, Linedata Services S.A., Majesco, Mitchell International, Inc., Nice Systems, OneShield Software, Open Text Corporation, Pegasystems, Paycom, Paylocity, Rent Manager by London Computer Systems, RingCentral, Roper Technologies, Inc., SAS Institute, ServiceNow, Silverlake Axis, SimCorp, Sistran, Solera Holdings, Teradata Corporation, The Innovation Group, Verint Systems Inc., Verisk Analytics, Inc., Vitech Systems Group, Visma, Wolters Kluwer, Workday, Zywave, Zoom Video Communications, and others.

Custom data cuts related to the Specialty Insurance Applications market are available:

  • Top 800+ Specialty Insurance Applications Vendors and Market Forecast 2023-2028
  • 2023 Specialty Insurance Applications Market By Functional Market (16 Markets)
  • 2023 Specialty Insurance Applications Market By Country (USA + 45 countries)
  • 2023 Specialty Insurance Applications Market By Region (Americas, EMEA, APAC)
  • 2023 Specialty Insurance Applications Market By Revenue Type (License, Services, Hardware, Support and Maintenance, Cloud)
  • 2023 Specialty Insurance Applications Market By Customer Size (revenue, employee count, asset)
  • 2023 Specialty Insurance Applications Market By Channel (Direct vs Direct)
  • 2023 Specialty Insurance Applications Market By Product
Buyer Intent: Companies Reading this Research Report
ARTW Buyer Intent uncovers actionable customer signals, identifying software buyers actively reading this research report. Gain ongoing access to real-time prospects and uncover hidden opportunities. Companies Actively accessing this research report include:
  1. Unified Patents, a United States based Professional Services organization with 40 Employees
  2. EY Japan, a Japan based Professional Services company with 11774 Employees
  3. EY Japan, a Japan based Professional Services organization with 11774 Employees
LogoCompanyIndustryEmployeesRevenueCountryEvaluated
Unified PatentsProfessional Services40$4MUnited States2025-01-02
SubscribeSubscribeProfessional Services11774$1.4BJapan2024-12-19
SubscribeSubscribeProfessional Services11774$1.4BJapan2024-12-09
SubscribeSubscribeProfessional Services10$1MUnited States2024-12-01
SubscribeSubscribeBanking and Financial Services3900$248MIndia2024-11-19
SubscribeSubscribeProfessional Services11774$1.4BJapan2024-11-18
SubscribeSubscribeInsurance8500$7.7BUnited States2024-09-26
SubscribeSubscribeManufacturing3300$1.3BGermany2024-09-18
SubscribeSubscribeProfessional Services10$1MIsrael2024-09-18
SubscribeSubscribeProfessional Services2400$1.3BUnited States2024-09-09
SubscribeSubscribeBanking and Financial Services309926$158.1BUnited States2024-07-24
SubscribeSubscribeBanking and Financial Services18000$11.5BUnited States2024-06-25
SubscribeSubscribeProfessional Services273424$36.4BNetherlands2024-06-12

Worldwide Enterprise Applications by Vertical Market

Exhibit 3 provides a forecast of the worldwide enterprise applications by vertical market from 2023 to 2028, highlighting market sizes, year-over-year growth, and compound annual growth rates across different industry sectors from Aerospace and Defense to Utilities.

Exhibit 3: Worldwide Enterprise Applications by Vertical Market Forecast 2023-2028 by Functional Market ($M)

Vertical Market, $M202120222023YoY Growth20282023-2028 CAGR, %
Aerospace & Defense Subscribe Subscribe Subscribe Subscribe Subscribe4.7
Automotive Subscribe Subscribe Subscribe Subscribe Subscribe3.2
Banking and Financial Services Subscribe Subscribe Subscribe Subscribe Subscribe3.4
Communications Subscribe Subscribe Subscribe Subscribe Subscribe3.8
Construction Subscribe Subscribe Subscribe Subscribe Subscribe4.7
Real Estate Subscribe Subscribe Subscribe Subscribe Subscribe3.3
Consumer Packaged Goods Subscribe Subscribe Subscribe Subscribe Subscribe4.5
Distribution Subscribe Subscribe Subscribe Subscribe Subscribe4.0
K-12 Subscribe Subscribe Subscribe Subscribe Subscribe4.1
Higher Education Subscribe Subscribe Subscribe Subscribe Subscribe3.9
Federal Government Subscribe Subscribe Subscribe Subscribe Subscribe4.3
State and Local Government Subscribe Subscribe Subscribe Subscribe Subscribe3.6
Public Safety Subscribe Subscribe Subscribe Subscribe Subscribe4.2
Healthcare Subscribe Subscribe Subscribe Subscribe Subscribe3.7
Life Insurance Subscribe Subscribe Subscribe Subscribe Subscribe4.1
P&C Insurance Subscribe Subscribe Subscribe Subscribe Subscribe4.5
Specialty Insurance Subscribe Subscribe Subscribe Subscribe Subscribe4.3
Leisure and Recreation Subscribe Subscribe Subscribe Subscribe Subscribe4.8
Hospitality and Lodging Subscribe Subscribe Subscribe Subscribe Subscribe5.0
Life Sciences Subscribe Subscribe Subscribe Subscribe Subscribe3.5
Manufacturing Subscribe Subscribe Subscribe Subscribe Subscribe3.9
Media Subscribe Subscribe Subscribe Subscribe Subscribe4.0
Faith-Based Nonprofit Subscribe Subscribe Subscribe Subscribe Subscribe3.6
Youth & Elderly Care Nonprofit Subscribe Subscribe Subscribe Subscribe Subscribe4.2
Special Cause Nonprofit Subscribe Subscribe Subscribe Subscribe Subscribe4.1
Oil and Gas Subscribe Subscribe Subscribe Subscribe Subscribe3.7
Professional Services Subscribe Subscribe Subscribe Subscribe Subscribe4.6
Retail Subscribe Subscribe Subscribe Subscribe Subscribe4.7
Transportation Subscribe Subscribe Subscribe Subscribe Subscribe4.5
Utility Subscribe Subscribe Subscribe Subscribe Subscribe3.8
Total Subscribe Subscribe Subscribe Subscribe Subscribe4.1

Source: Apps Run The World, June 2024

Exhibit 4 shows our projections for the enterprise applications market by vertical segment, based on the buying preferences and the customer propensity to invest in new software within those industries as they continue to upgrade and replace many legacy industry-specific applications that have been identified and tracked in our Buyer Insight Database.

Exhibit 4: Worldwide Enterprise Applications Market Forecast 2023-2028, By Vertical Market, $M
Exhibit 4: Worldwide Enterprise Applications Market Forecast 2023-2028, By Vertical Market, $M

Specialty Insurance Software Purchases Win/Loss Analysis As Part Of Enterprise Applications Buyer Insight Customer Database

On the buyer side, customers are investing in Specialty Insurance systems based on new features and capabilities that are expected to replace their existing legacy systems. In many cases, competitive upgrades and replacements that could have a profound impact on future market-share changes will become more widespread.

Since 2010, our global team of researchers has been studying the patterns of the latest Specialty Insurance software purchases by customers around the world, aggregating massive amounts of data points that form the basis of our forecast assumptions and perhaps the rise and fall of certain vendors and their products on a quarterly basis.

Updated continuously, our database features extensive win/loss analysis. Each year our research team identifies tens of thousands of these Insurance customer wins and losses from public and proprietary sources.

The research results are being incorporated into regular updates in our Enterprise Applications Buyer Insight Customer Database. You can access the Quarterly Win/Loss Analysis Scoreboard and our Enterprise Applications Buyer Insight Customer Database by becoming a subscriber.

CustomerIndustryEmpl.RevenueCountryVendorNew ProductFunction
Die MobiliarInsurance4400$1.30BSwitzerlandOracleOracle Autonomous Data WarehouseAutonomous Database
Liberty Mutual InsuranceInsurance50000$39.41BUnited StatesASG TechnologiesMobiusContent Management
Turner Construction CompanyInsurance9000$11.77BUnited StatesAxios SystemsAssyst ITSM SolutionIT Service Management
HelsanaInsurance3214$6.07BSwitzerlandBMC SoftwareBMC Remedy ITSM SuiteIT Service Management
Pacífico SegurosInsurance5000$500.0MPeruCA TechnologiesCA Project & Portfolio ManagementProject Portfolio Management
Zurich InsuranceInsurance55000$63.96BSwitzerlandCoupa SoftwareCoupa ProcurementProcurement
Zurich Insurance UKInsurance2500$2.19BUnited KingdomMedalliaMedallia Experience CloudCustomer Experience
Towergate InsuranceInsurance5000$430.0MUnited KingdomMicrosoftMicrosoft Dynamics 365 for Finance and OperationsEnterprise Resource Planning
West Midlands PoliceInsurance10884$728.0MUnited KingdomOracleOracle CX CloudCustomer Experience
West Midlands PoliceInsurance10884$728.0MUnited KingdomOracleOracle ERP CloudEnterprise Resource Planning
West Midlands PoliceInsurance10884$728.0MUnited KingdomOracleOracle HCM CloudHuman Capital Management
Tokio Marine HCCInsurance2500$2.30BUnited StatesPegasystemsPega 7 PlatformCRM
Liberty Speciality MarketsInsurance1700$200.0MUnited KingdomSAPSAP S/4 HANAEnterprise Resource Planning
Federal Deposit InsuranceInsurance8713$39.10BUnited StatesAvayaAvaya AuraCustomer Service and Support
ProgressiveInsurance28580$22.69BUnited StatesAvayaAvaya AuraCustomer Service and Support
Generali Hellas S.A.Insurance100$10.0MGreeceEMCEMC Documentum D2 Collaboration
Mercury InsuranceInsurance5100$3.09BUnited StatesIBMIBM Kenexa BrassRingApplicant Tracking Systems
AIGInsurance65000$64.40BUnited StatesInteractive IntelligencePureCloudCustomer Engagement Platform
UnumInsurance9400$3.52BUnited StatesInteractive IntelligencePureCloudCustomer Engagement Platform
AAAInsurance5200$1.90BUnited StatesLiveOpsLiveOpsCloud Contact Center
MetLifeInsurance38722$52.72BUnited StatesLiveOpsLiveOpsCloud Contact Center
Arch Insurance Group Inc.Insurance1240$100.0MUnited StatesMicrosoftMicrosoft Dynamics GPEnterprise Resource Planning
Berkley Risk Administrators Company LLCInsurance270$30.0MUnited StatesMicrosoftMicrosoft Dynamics GPEnterprise Resource Planning
Long Term Care Group, IncInsurance1100$250.0MUnited StatesMicrosoftMicrosoft Dynamics GPEnterprise Resource Planning
Overland SolutionsInsurance300$30.0MUnited StatesMicrosoftMicrosoft Dynamics GPEnterprise Resource Planning
SIHO Insurance ServicesInsurance300$30.0MUnited StatesMicrosoftMicrosoft Dynamics GPEnterprise Resource Planning
Admiral Group PlcInsurance8000$904.0MUnited KingdomMicroStrategyMicroStrategy AnalyticsAnalytics Platform
JLT GroupInsurance1200$200.0MAustraliaNetSuiteNetsuite OpenAirProfessional Services Automation
LTC PartnersInsurance250$20.0MUnited StatesNice SystemsNICE IEX Workforce ManagementWorkforce Management Software
AllstateInsurance40200$35.70BUnited StatesOracleOracle Taleo Cloud ServiceTalent Management
CignaInsurance39300$38.76BUnited StatesOracleOracle Service Cloud (ex RightNow)Customer Experience Platform
Federal Deposit InsuranceInsurance8713$39.10BUnited StatesOracleOracle ERP CloudEnterprise Resource Planning
HelsanaInsurance3214$6.07BSwitzerlandOracleOracle WebCenter SitesWeb Experience Management Solution
Tian An Life Insurance Co., Ltd. Insurance1000$500.0MChinaOracleOracle WebCenter SitesWeb Experience Management Solution
AIGInsurance65000$64.40BUnited StatesSalesforceService CloudCustomer Service and Support
AllianzInsurance147425$135.73BGermanySalesforceService CloudCustomer Service and Support
Arthur J. Gallagher & Co.Insurance20200$5.39BUnited StatesSalesforceService CloudCustomer Service and Support
CignaInsurance39300$38.76BUnited StatesSalesforceService CloudCustomer Service and Support
Liberty Mutual InsuranceInsurance50000$39.41BUnited StatesSalesforceService CloudCustomer Service and Support
Lincoln NationalInsurance9312$14.00BUnited StatesSalesforceService CloudCustomer Service and Support
Radian GroupInsurance1810$1.19BUnited StatesSalesforceService CloudCustomer Service and Support
Sompo Japan NipponkoaInsurance18270$20.00BJapanSalesforceService CloudCustomer Service and Support
Sun Life Financial PhilippinesInsurance29180$25.75BPhilippinesSalesforceService CloudCustomer Service and Support
The HartfordInsurance17400$18.38BUnited StatesSalesforceService CloudCustomer Service and Support
TransamericaInsurance11500$5.35BUnited StatesSalesforceService CloudCustomer Service and Support
AIA Group LimitedInsurance20000$23.28BHong KongSAPSAP AribaSource-to-Pay Procurement and Supply Chain Cloud
AllstateInsurance40200$35.70BUnited StatesSAPSAP SuccessFactors Employee CentralHuman Capital Management
AllstateInsurance40200$35.70BUnited StatesSAPSAP SuccessFactors Talent SolutionsRecruiting, Onboarding, Learning, Performance and Goals, Compensation, Succession and Development
Liberty Speciality MarketsInsurance1700$200.0MUnited KingdomSAPSAP ConcurTravel & Expense
New York Life Insurance CompanyInsurance13000$28.00BUnited StatesSAPSAP Business Planning and ConsolidationEnterprise Performance Management
New York Life Insurance CompanyInsurance13000$28.00BUnited StatesSAPSAP S/4HANA FinanceEnterprise Resource Planning
QBE InsuranceInsurance14500$12.86BAustraliaSitecoreSitecore Experience PlatformWeb Content Management And Customer Experience
Arthur J. Gallagher & Co.Insurance20200$5.39BUnited StatesSkillsoftSkillport Learning Management System (LMS)Learning Management System
AllianzInsurance147425$135.73BGermanyThunderheadThunderhead ONE Engagement HubCustomer Engagement Platform
ICATInsurance300$50.0MUnited StatesThunderheadThunderhead ONE Engagement HubCustomer Engagement Platform
Prudential FinancialInsurance20007$54.16BUnited StatesThunderheadThunderhead ONE Engagement HubCustomer Engagement Platform
Screen Actors Guild-Producers Pension and Health PlansInsurance180$100.0MUnited StatesUltimate SoftwareUltiProHuman Capital Management
IAGInsurance15000$7.39BAustraliaVerint SystemsVerint Engagement ManagementEngagement Management
New York Life Insurance CompanyInsurance13000$28.00BUnited StatesVerint SystemsVerint Engagement ManagementEngagement Management
VSP Vision CareInsurance4000$1.50BUnited StatesVerint SystemsVerint Engagement ManagementEngagement Management
National General InsuranceInsurance7570$4.43BUnited StatesWolters KluwerCCH TagetikEnterprise Performance Management
Poste VitaInsurance350$65.0MItalyWolters KluwerCCH TagetikEnterprise Performance Management
UnumInsurance9400$3.52BUnited StatesWorkdayWorkday LearningLearning Management
American EnterpriseInsurance450$100.0MUnited KingdomWorkivaWorkiva SOX Compliance SolutionGRC, Compliance Software
Donegal Insurance GroupInsurance900$650.0MUnited StatesWorkivaWdeskEnterprise Performance Management
New York Life Insurance CompanyInsurance13000$28.00BUnited StatesWorkivaWdeskEnterprise Performance Management

Source: Apps Run The World, June 2024

More Enterprise Applications Research Findings

Based on the latest annual survey of 3,000+ enterprise software vendors, Apps Run The World is releasing a number of dedicated reports, which profile the world’s 500 largest Enterprise Applications Vendors (Apps Top 500) ranked by their 2019-2023 product revenues.

Their 2023 results are being broken down, sorted and ranked across 16 functional areas (from Analytics to Treasury and Risk Management) and by 21 vertical industries (from Aerospace to Utility), as shown in our Taxonomy. Further breakdowns by subvertical, country, company size, etc. are available as custom data cuts per special request.

Research Methodology

Each year our global team of researchers conducts an annual survey of thousands of enterprise software vendors by contacting them directly on their latest quarterly and annual revenues by country, functional area, and vertical market. We supplement their written responses with our own primary research to determine quarterly and yearly growth rates, In addition to customer wins to ascertain whether these are net new purchases or expansions of existing implementations.

Another dimension of our proactive research process is through continuous improvement of our customer database, which stores more than one million records on the enterprise software landscape of over 100,000 organizations around the world.

The database provides customer insight and contextual information on what types of enterprise software systems and other relevant technologies are they running and their propensity to invest further with their current or new suppliers as part of their overall IT transformation projects to stay competitive, fend off threats from disruptive forces, or comply with internal mandates to improve overall enterprise efficiency.

The result is a combination of supply-side data and demand-generation customer insight that allows our clients to better position themselves in anticipation of the next wave that will reshape the enterprise software marketplace for years to come.