Insurance Advertising Market Report 2025

The insurance advertising market size has grown rapidly in recent years. It will grow from $12.77 billion in 2024 to $14.12 billion in 2025 at a compound annual growth rate (CAGR) of 10.6%. The growth in the historic period can be attributed to traditional advertising channels, agent networks, word of mouth, regulatory changes, product innovation, public awareness campaigns, customer education.

The insurance advertising market size is expected to see rapid growth in the next few years. It will grow to $21.35 billion in 2029 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to mobile advertising, content marketing, customer reviews and testimonials, compliance with new regulations, usage-based insurance models, targeting younger demographics. Major trends in the forecast period include digital marketing dominance, blockchain integration, partnerships and collaborations, artificial intelligence in underwriting, integration of social media, video content and storytelling.

An increase in the number of internet users is anticipated to drive the growth of the insurance advertising market in the future. An internet user is defined as anyone who accesses the internet, regardless of the method used. The rising number of individuals using the internet facilitates insurance companies in targeting their audience through digital marketing. Businesses can expand their reach and expect a greater return on investment, as various solutions are available to help streamline marketing efforts, allowing teams to focus on more critical tasks, such as selling insurance. For example, in July 2023, a survey by Statistics Canada, conducted between December 2022 and April 2023, reported that internet usage among Canadians aged 15 and older increased to 95% in 2022, up from 92% in 2020. The most notable rise was seen in Canadians aged 75 and older, with internet usage climbing from 62% in 2020 to 72% in 2022. Therefore, the growth in the number of internet users is propelling the expansion of the insurance advertising market.

The growth of the insurtech sector is expected to drive the insurance advertising market. Insurtech refers to the innovative application of technology, especially digital tools and data analytics, to improve and streamline various facets of the insurance industry. Advertising becomes an essential tool for both insurtech firms and traditional insurers to convey their value propositions, differentiate themselves, and attract consumer attention in a changing insurance environment. For example, in April 2023, the Insurtech Global Outlook Report released by NTT DATA, a Japan-based information technology company, revealed that in 2022, the insurtech sector attracted $8 billion in investments through 470 deals, a significant increase from the $5.83 billion obtained in 2020 across 435 deals. Therefore, the growth of the insurtech sector will contribute to the expansion of the insurance advertising market in the future.

Product innovations have become a prominent trend in the insurance advertising market. Leading companies in this sector are focusing on developing creative products to enhance their market position. For example, in September 2022, PhonePe, an India-based digital payments platform, launched a comprehensive multimedia brand campaign aimed at facilitating tension-free motor insurance renewals. This nationwide campaign will be rolled out in stages using eight commercial films. It highlights the real issues consumers face with sales pitches that have turned into frustrating purchasing experiences. The advertising initiative aims to raise awareness of the benefits of renewing auto insurance stress-free through PhonePe.

Major players in the insurance advertising market are exploring innovative advertising methods like digital ad films to broaden their customer base and secure a competitive edge. A digital ad film, or online video ad, is a promotional video designed to market a product, service, brand, or idea via digital channels. For instance, in August 2022, Max Life Insurance Company Limited, an India-based life insurance provider, launched a digital advertising campaign promoting its term insurance plan aimed at homemakers. This campaign is presented exclusively in collaboration with Disney+'s Connected Television (CTV). The digital ad film is strategically available in six languages - Tamil, Kannada, Bengali, Marathi, Telugu, and Malayalam. The primary goal of the ad film is to raise awareness about the significance of a term insurance plan specifically tailored for homemakers, eliminating the need for proof of the husband’s income. The aim is to empower homemakers financially over the long term.

In 2022, WebFX, a US-based digital marketing solutions provider, acquired Nutshell CRM for an undisclosed amount. This acquisition enhances WebFX's capabilities by incorporating Nutshell CRM into its suite of services, resulting in a comprehensive end-to-end revenue marketing solution for expanding businesses. Nutshell CRM is recognized for its web and mobile customer relationship management and email marketing automation services.

Major companies operating in the insurance advertising market include Q1Media, Bolt Insurance, Insurance Agency Marketing - AMM, Creative Direct Marketing Group, Allegiant Digital Marketing, Usadata Inc., Seapoint Digital, Stringo Media, Digital Marketing Specialist Ltd., Flying V Group Digital, Cyrusson Inc., AdParlor, Digital Results Agency, Allianz SE, American International Group Inc., AXA S.A, Chubb, MetLife Services and Solutions LLC., Ping An Insurance (Group) Company of China Ltd., Progressive Casualty Insurance Company, Prudential, Medica, Zurich Insurance, American Family Mutual, Liberty Mutual, Allstate Corporation, Berkshire Hathaway, GEICO.

Asia-Pacific was the largest region in the insurance advertising market share in 2024. The regions covered in the insurance advertising market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the insurance advertising market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Insurance advertising involves the promotion of insurance products with the aim of maximizing profits and satisfying customers. The focus of insurance marketing is on creating the optimal combination for success in the insurance industry.

The main types of insurance advertising are life insurance and non-health insurance. Life insurance entails a contractual agreement between a policyholder and an insurer, where the insurer commits to paying a sum of money in exchange for a premium upon the demise of an insured person or after a predetermined period. Advertisement channels include television, email, sales calls, and others, which are utilized for direct marketing, network marketing, mobile marketing, and various applications.

The insurance advertising market research report is one of a series of new reports that provides insurance advertising market statistics, including the insurance advertising industry global market size, regional shares, competitors with insurance advertising market share, detailed insurance advertising market segments, market trends, and opportunities, and any further data you may need to thrive in the insurance advertising industry. This insurance advertising market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The insurance advertising market includes revenues earned by entities by marketing and selling insurance policies through advertisements. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.