Actuarial Software for Insurance Pricing Market Size(US$)

CAGR 2026-2032
6.6%
Market Size,2032
USD 1,411
Million
Market Snapshot
Source: Secondary research, interviews with experts, and QYResearch analysis
The global Actuarial Software for Insurance Pricing market was valued at US$ 911 million in 2025 and is anticipated to reach US$ 1411 million by 2032, at a CAGR of 6.6% from 2026 to 2032.
Actuarial software for insurance pricing refers to specialized computer programs that are used by actuaries in the insurance industry to analyze data, assess risk, and determine appropriate pricing for insurance products. These software tools help actuaries make informed decisions about setting premiums, calculating reserves, and managing overall financial risk for insurance companies. By utilizing actuarial software, insurance companies can more accurately predict future claims and losses, leading to more competitive pricing and improved profitability. This technology plays a crucial role in the insurance industry by enabling companies to make data-driven decisions that ultimately benefit both the insurer and the policyholder.
The actuarial software industry for insurance pricing is undergoing a profound transformation, driven by technological innovation, regulatory demands, and evolving market dynamics. A key trend is the explosive growth of AI and machine learning integration, with platforms like Akur8’s solution reducing modeling time by 10x while boosting predictive power by 10% and loss ratio improvement by 2–4%. Insurers are increasingly deploying transparent AI algorithms (e.g., SAS’s dynamic actuarial modeling) to automate complex tasks like risk segmentation and fraud detection, while maintaining auditability—a critical requirement for regulatory compliance. Big data and IoT-driven personalization are reshaping pricing models. Telematics devices and smart sensors generate real-time behavioral data (e.g., driver habits, equipment performance), enabling usage-based insurance (UBI) and predictive maintenance.
Cloud-native SaaS solutions are disrupting legacy systems, offering scalability and cost efficiency. Akur8’s partnership with Duck Creek Technologies allows insurers to deploy AI-powered rates in minutes via cloud APIs, eliminating manual handovers and operational risks. By 2025, cloud-based platforms are projected to dominate 61% of deployments, particularly in emerging markets like Asia-Pacific, where cost-effective scalability is prioritized.
Regulatory adaptation remains a cornerstone, with Solvency II and similar frameworks driving demand for compliance-centric tools. Addactis’s Solvency II solution automates stress testing and regulatory reporting, ensuring alignment with evolving capital adequacy standards.
Despite these advancements, challenges persist, including data privacy concerns (e.g., GDPR compliance in EU markets) and skill gaps in emerging economies. However, the industry’s trajectory is clear: by 2030, AI-driven actuarial software is expected to capture 45% of the global market, with hybrid models (combining traditional GLMs and deep learning) becoming the norm . As insurers navigate a landscape marked by climate uncertainty and hyper-personalization, actuarial software will remain a linchpin in balancing profitability, compliance, and customer-centric innovation.
This report delivers a comprehensive overview of the global Actuarial Software for Insurance Pricing market, with both quantitative and qualitative analyses, to help readers develop growth strategies, assess the competitive landscape, evaluate their position in the current market, and make informed business decisions regarding Actuarial Software for Insurance Pricing. The Actuarial Software for Insurance Pricing market size, estimates, and forecasts are provided in terms of revenue (US$ millions), with 2025 as the base year and historical and forecast data for 2021–2032.
The report segments the global Actuarial Software for Insurance Pricing market comprehensively. Regional market sizes by Type, by Application, , and by player are also provided. For deeper insight, the report profiles the competitive landscape, key competitors, and their respective market rankings, and discusses technological trends and new product developments.
This report will assist Actuarial Software for Insurance Pricing manufacturers, new entrants, and companies across the industry value chain with information on revenues, sales volume, and average prices for the overall market and its sub-segments, by company, by Type, by Application, and by region.
Market Segmentation
Chapter Outline
Chapter 1: Defines the scope of the report and presents an executive summary of market segments (by Type, by Application, , etc.), including the size of each segment and its future growth potential. It offers a high-level view of the current market and its likely evolution in the short, medium, and long term.
Chapter 2: Summarizes global and regional market size and outlines market dynamics and recent developments, including key drivers, restraints, challenges and risks for industry participants, and relevant policy analysis.
Chapter 3: Provides a detailed view of the competitive landscape for Actuarial Software for Insurance Pricing companies, covering revenue share, development plans, and mergers and acquisitions.
Chapter 4: Analyzes segments by Type, detailing the size and growth potential of each segment to help readers identify blue-ocean opportunities.
Chapter 5: Analyzes segments by Application, detailing the size and growth potential of each downstream segment to help readers identify blue-ocean opportunities.
Chapter 6–10: Regional deep dives (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) broken down by country. Each chapter quantifies market size and growth potential by region and key countries, and outlines market development, outlook, addressable space, and capacity.
Chapter 11: Profiles key players, presenting essential information on leading companies, including product/ service offerings, revenue, gross margin, product introductions/portfolios, recent developments, etc.
Chapter 12: Key findings and conclusions of the report.
QYResearch's Strengths
Unlike generic global market reports, this study combines macro-level industry trends with hyper-local operational intelligence, empowering data-driven decisions across the Compound Chocolate value chain, addressing:
We identify regional market threats and growth prospects to guide your overseas layout.
We adjust product portfolios in line with local consumption habits.
We unpack rivals’ operation strategies for scattered and highly concentrated industries.
We cover competition landscape, full supply chain and quantified market size data, and deliver tailor-made customized surveys to meet your unique business demands.
We own self-owned massive exclusive databases, backed by 19 years of global market research experience across thousands of sectors.
Our team operates 24 hours a day, 365 days a year, enabling ultra-fast report turnaround to respond to your research needs efficiently.
We integrate regional risk assessment, localized product optimization and competitor analysis to deliver actionable market strategies.
All data is cross-verified from multiple industry sources to deliver thorough, precise analysis that supports reliable corporate strategic decisions.
We provide responsive, dedicated after-sales support to resolve all follow-up inquiries about reports, data and industry interpretation.
Table of Contents
1 Report Overview
1.1 Study Scope
1.2 Market Analysis by Type
1.2.1 Global Actuarial Software for Insurance Pricing Market Size Growth Rate by Type: 2021 vs 2025 vs 2032
1.2.2 On-premises
1.2.3 Cloud Based
1.3 Market by Application
1.3.1 Global Actuarial Software for Insurance Pricing Market Growth by Application: 2021 vs 2025 vs 2032
1.3.2 Property and Casualty Insurance
1.3.3 Life Insurance
1.3.4 Health Insurance
1.3.5 Others
1.4 Assumptions and Limitations
1.5 Study Objectives
1.6 Years Considered
2 Global Growth Trends
2.1 Global Actuarial Software for Insurance Pricing Market Perspective (2021–2032)
2.2 Global Actuarial Software for Insurance Pricing Growth Trends by Region
2.2.1 Global Actuarial Software for Insurance Pricing Market Size by Region: 2021 vs 2025 vs 2032
2.2.2 Actuarial Software for Insurance Pricing Historic Market Size by Region (2021–2026)
2.2.3 Actuarial Software for Insurance Pricing Forecasted Market Size by Region (2027–2032)
2.3 Actuarial Software for Insurance Pricing Market Dynamics
2.3.1 Actuarial Software for Insurance Pricing Industry Trends
2.3.2 Actuarial Software for Insurance Pricing Market Drivers
2.3.3 Actuarial Software for Insurance Pricing Market Challenges
2.3.4 Actuarial Software for Insurance Pricing Market Restraints
3 Competition Landscape by Key Players
3.1 Global Top Actuarial Software for Insurance Pricing Players by Revenue
3.1.1 Global Top Actuarial Software for Insurance Pricing Players by Revenue (2021–2026)
3.1.2 Global Actuarial Software for Insurance Pricing Revenue Market Share by Players (2021–2026)
3.2 Global Top Actuarial Software for Insurance Pricing Players Market Share by Company Tier (Tier 1, Tier 2, Tier 3)
3.3 Global Key Players Ranking by Actuarial Software for Insurance Pricing Revenue
3.4 Global Actuarial Software for Insurance Pricing Market Concentration Ratio
3.4.1 Global Actuarial Software for Insurance Pricing Market Concentration Ratio (CR5 and HHI)
3.4.2 Global Top 10 and Top 5 Companies by Actuarial Software for Insurance Pricing Revenue in 2025
3.5 Global Key Players of Actuarial Software for Insurance Pricing Head Offices and Areas Served
3.6 Global Key Players of Actuarial Software for Insurance Pricing, Products and Applications
3.7 Global Key Players of Actuarial Software for Insurance Pricing, Date of General Availability (GA)
3.8 Mergers and Acquisitions, Expansion Plans
4 Actuarial Software for Insurance Pricing Breakdown Data by Type
4.1 Global Actuarial Software for Insurance Pricing Historic Market Size by Type (2021–2026)
4.2 Global Actuarial Software for Insurance Pricing Forecasted Market Size by Type (2027–2032)
5 Actuarial Software for Insurance Pricing Breakdown Data by Application
5.1 Global Actuarial Software for Insurance Pricing Historic Market Size by Application (2021–2026)
5.2 Global Actuarial Software for Insurance Pricing Forecasted Market Size by Application (2027–2032)
6 North America
6.1 North America Actuarial Software for Insurance Pricing Market Size (2021–2032)
6.2 North America Actuarial Software for Insurance Pricing Market Growth Rate by Country: 2021 vs 2025 vs 2032
6.3 North America Actuarial Software for Insurance Pricing Market Size by Country (2021–2026)
6.4 North America Actuarial Software for Insurance Pricing Market Size by Country (2027–2032)
6.5 United States
6.6 Canada
7 Europe
7.1 Europe Actuarial Software for Insurance Pricing Market Size (2021–2032)
7.2 Europe Actuarial Software for Insurance Pricing Market Growth Rate by Country: 2021 vs 2025 vs 2032
7.3 Europe Actuarial Software for Insurance Pricing Market Size by Country (2021–2026)
7.4 Europe Actuarial Software for Insurance Pricing Market Size by Country (2027–2032)
7.5 Germany
7.6 France
7.7 U.K.
7.8 Italy
7.9 Russia
7.10 Ireland
8 Asia-Pacific
8.1 Asia-Pacific Actuarial Software for Insurance Pricing Market Size (2021–2032)
8.2 Asia-Pacific Actuarial Software for Insurance Pricing Market Growth Rate by Region: 2021 vs 2025 vs 2032
8.3 Asia-Pacific Actuarial Software for Insurance Pricing Market Size by Region (2021–2026)
8.4 Asia-Pacific Actuarial Software for Insurance Pricing Market Size by Region (2027–2032)
8.5 China
8.6 Japan
8.7 South Korea
8.8 Southeast Asia
8.9 India
8.10 Australia & New Zealand
9 Latin America
9.1 Latin America Actuarial Software for Insurance Pricing Market Size (2021–2032)
9.2 Latin America Actuarial Software for Insurance Pricing Market Growth Rate by Country: 2021 vs 2025 vs 2032
9.3 Latin America Actuarial Software for Insurance Pricing Market Size by Country (2021–2026)
9.4 Latin America Actuarial Software for Insurance Pricing Market Size by Country (2027–2032)
9.5 Mexico
9.6 Brazil
10 Middle East & Africa
10.1 Middle East & Africa Actuarial Software for Insurance Pricing Market Size (2021–2032)
10.2 Middle East & Africa Actuarial Software for Insurance Pricing Market Growth Rate by Country: 2021 vs 2025 vs 2032
10.3 Middle East & Africa Actuarial Software for Insurance Pricing Market Size by Country (2021–2026)
10.4 Middle East & Africa Actuarial Software for Insurance Pricing Market Size by Country (2027–2032)
10.5 Israel
10.6 Saudi Arabia
10.7 UAE
11 Key Players Profiles
11.1 Akur8
11.1.1 Akur8 Company Details
11.1.2 Akur8 Business Overview
11.1.3 Akur8 Actuarial Software for Insurance Pricing Introduction
11.1.4 Akur8 Revenue in Actuarial Software for Insurance Pricing Business (2021–2026)
11.1.5 Akur8 Recent Development
11.2 Addactis
11.2.1 Addactis Company Details
11.2.2 Addactis Business Overview
11.2.3 Addactis Actuarial Software for Insurance Pricing Introduction
11.2.4 Addactis Revenue in Actuarial Software for Insurance Pricing Business (2021–2026)
11.2.5 Addactis Recent Development
11.3 Hyperexponential
11.3.1 Hyperexponential Company Details
11.3.2 Hyperexponential Business Overview
11.3.3 Hyperexponential Actuarial Software for Insurance Pricing Introduction
11.3.4 Hyperexponential Revenue in Actuarial Software for Insurance Pricing Business (2021–2026)
11.3.5 Hyperexponential Recent Development
11.4 AXIS
11.4.1 AXIS Company Details
11.4.2 AXIS Business Overview
11.4.3 AXIS Actuarial Software for Insurance Pricing Introduction
11.4.4 AXIS Revenue in Actuarial Software for Insurance Pricing Business (2021–2026)
11.4.5 AXIS Recent Development
11.5 WTW RiskAgility
11.5.1 WTW RiskAgility Company Details
11.5.2 WTW RiskAgility Business Overview
11.5.3 WTW RiskAgility Actuarial Software for Insurance Pricing Introduction
11.5.4 WTW RiskAgility Revenue in Actuarial Software for Insurance Pricing Business (2021–2026)
11.5.5 WTW RiskAgility Recent Development
11.6 SAS
11.6.1 SAS Company Details
11.6.2 SAS Business Overview
11.6.3 SAS Actuarial Software for Insurance Pricing Introduction
11.6.4 SAS Revenue in Actuarial Software for Insurance Pricing Business (2021–2026)
11.6.5 SAS Recent Development
11.7 Stoch Analytics
11.7.1 Stoch Analytics Company Details
11.7.2 Stoch Analytics Business Overview
11.7.3 Stoch Analytics Actuarial Software for Insurance Pricing Introduction
11.7.4 Stoch Analytics Revenue in Actuarial Software for Insurance Pricing Business (2021–2026)
11.7.5 Stoch Analytics Recent Development
11.8 FIS Prophet
11.8.1 FIS Prophet Company Details
11.8.2 FIS Prophet Business Overview
11.8.3 FIS Prophet Actuarial Software for Insurance Pricing Introduction
11.8.4 FIS Prophet Revenue in Actuarial Software for Insurance Pricing Business (2021–2026)
11.8.5 FIS Prophet Recent Development
11.9 Aon
11.9.1 Aon Company Details
11.9.2 Aon Business Overview
11.9.3 Aon Actuarial Software for Insurance Pricing Introduction
11.9.4 Aon Revenue in Actuarial Software for Insurance Pricing Business (2021–2026)
11.9.5 Aon Recent Development
11.10 WNS
11.10.1 WNS Company Details
11.10.2 WNS Business Overview
11.10.3 WNS Actuarial Software for Insurance Pricing Introduction
11.10.4 WNS Revenue in Actuarial Software for Insurance Pricing Business (2021–2026)
11.10.5 WNS Recent Development
11.11 Milliman
11.11.1 Milliman Company Details
11.11.2 Milliman Business Overview
11.11.3 Milliman Actuarial Software for Insurance Pricing Introduction
11.11.4 Milliman Revenue in Actuarial Software for Insurance Pricing Business (2021–2026)
11.11.5 Milliman Recent Development
11.12 PolySystems
11.12.1 PolySystems Company Details
11.12.2 PolySystems Business Overview
11.12.3 PolySystems Actuarial Software for Insurance Pricing Introduction
11.12.4 PolySystems Revenue in Actuarial Software for Insurance Pricing Business (2021–2026)
11.12.5 PolySystems Recent Development
11.13 Insureware
11.13.1 Insureware Company Details
11.13.2 Insureware Business Overview
11.13.3 Insureware Actuarial Software for Insurance Pricing Introduction
11.13.4 Insureware Revenue in Actuarial Software for Insurance Pricing Business (2021–2026)
11.13.5 Insureware Recent Development
11.14 RNA Analytics
11.14.1 RNA Analytics Company Details
11.14.2 RNA Analytics Business Overview
11.14.3 RNA Analytics Actuarial Software for Insurance Pricing Introduction
11.14.4 RNA Analytics Revenue in Actuarial Software for Insurance Pricing Business (2021–2026)
11.14.5 RNA Analytics Recent Development
11.15 Montoux
11.15.1 Montoux Company Details
11.15.2 Montoux Business Overview
11.15.3 Montoux Actuarial Software for Insurance Pricing Introduction
11.15.4 Montoux Revenue in Actuarial Software for Insurance Pricing Business (2021–2026)
11.15.5 Montoux Recent Development
11.16 Slope Software
11.16.1 Slope Software Company Details
11.16.2 Slope Software Business Overview
11.16.3 Slope Software Actuarial Software for Insurance Pricing Introduction
11.16.4 Slope Software Revenue in Actuarial Software for Insurance Pricing Business (2021–2026)
11.16.5 Slope Software Recent Development
12 Analyst's Viewpoints/Conclusions
13 Appendix
13.1 Research Methodology
13.1.1 Methodology/Research Approach
13.1.1.1 Research Programs/Design
13.1.1.2 Market Size Estimation
13.1.1.3 Market Breakdown and Data Triangulation
13.1.2 Data Source
13.1.2.1 Secondary Sources
13.1.2.2 Primary Sources
13.2 Author Details
13.3 Disclaimer
Table of Figures
List of Tables
List of Figures
Related Reports
The global market for Actuarial Software for Insurance Pricing was estimated to be worth US$ 587 million in 2023 and is forecast to a readjusted size of US$ 1258 million by 2030 with a CAGR of 6.6% during the forecast period 2024-2030.
Published Date: 2024-11-26
Pages: 122
USD 3950.00
(Single User License)
Valued at US$ 860 million in 2024, the global Actuarial Software for Insurance Pricing market is forecast to reach US$ 1258 million by 2030, at a CAGR of 6.6% during the forecast period.
Published Date: 2024-11-26
Pages: 148
USD 4900.00
(Single User License)
The global Actuarial Software for Insurance Pricing revenue was US$ 587 million in 2023 and is forecast to a readjusted size of US$ 1258 million by 2030 with a CAGR of 6.6% during the review period (2024-2030).
Published Date: 2024-11-26
Pages: 121
USD 4350.00
(Single User License)
The global market for Actuarial Software for Insurance Pricing was valued at US$ 860 million in the year 2024 and is projected to reach a revised size of US$ 1333 million by 2031, growing at a CAGR of 6.6% during the forecast period.
Published Date: 2025-08-05
Pages: 100
USD 2900.00
(Single User License)
The global market for Actuarial Software for Insurance Pricing was estimated to be worth US$ 860 million in 2024 and is forecast to a readjusted size of US$ 1333 million by 2031 with a CAGR of 6.6% during the forecast period 2025-2031.
Published Date: 2025-08-05
Pages: 130
USD 3950.00
(Single User License)
The global Actuarial Software for Insurance Pricing market is projected to grow from US$ 860 million in 2024 to US$ 1333 million by 2031, at a CAGR of 6.6% (2025-2031), driven by critical product segments and diverse end‑use applications.
Published Date: 2025-08-05
Pages: 155
USD 4900.00
(Single User License)
The global Actuarial Software for Insurance Pricing market size was US$ 860 million in 2024 and is forecast to a readjusted size of US$ 1333 million by 2031 with a CAGR of 6.6% during the forecast period 2025-2031.
Published Date: 2025-09-06
Pages: 107
USD 4250.00
(Single User License)
The global market for Actuarial Software for Insurance Pricing was estimated to be worth US$ 911 million in 2025 and is projected to reach US$ 1411 million, growing at a CAGR of 6.6% from 2026 to 2032.
Published Date: 2026-01-08
Pages: 122
USD 3950.00
(Single User License)
The global Actuarial Software for Insurance Pricing market size was US$ 911 million in 2025 and is forecast to reach a readjusted size of US$ 1411 million by 2032 with a CAGR of 6.6% during the forecast period 2026-2032.
Published Date: 2026-03-25
Pages: 103
USD 4250.00
(Single User License)
The global Actuarial Software for Insurance Pricing market is projected to grow from US$ 911 million in 2025 to US$ 1411 million by 2032, at a CAGR of 6.6% (2026-2032), driven by critical product segments and diverse end‑use applications.
Published Date: 2026-03-25
Pages: 147
USD 4900.00
(Single User License)
The global market for Actuarial Software for Insurance Pricing was estimated to be worth US$ 587 million in 2023 and is forecast to a readjusted size of US$ 1258 million by 2030 with a CAGR of 6.6% during the forecast period 2024-2030.
Published: 2024-11-26
Pages: 122
Valued at US$ 860 million in 2024, the global Actuarial Software for Insurance Pricing market is forecast to reach US$ 1258 million by 2030, at a CAGR of 6.6% during the forecast period.
Published: 2024-11-26
Pages: 148
The global Actuarial Software for Insurance Pricing revenue was US$ 587 million in 2023 and is forecast to a readjusted size of US$ 1258 million by 2030 with a CAGR of 6.6% during the review period (2024-2030).
Published: 2024-11-26
Pages: 121
The global market for Actuarial Software for Insurance Pricing was valued at US$ 860 million in the year 2024 and is projected to reach a revised size of US$ 1333 million by 2031, growing at a CAGR of 6.6% during the forecast period.
Published: 2025-08-05
Pages: 100
The global market for Actuarial Software for Insurance Pricing was estimated to be worth US$ 860 million in 2024 and is forecast to a readjusted size of US$ 1333 million by 2031 with a CAGR of 6.6% during the forecast period 2025-2031.
Published: 2025-08-05
Pages: 130
The global Actuarial Software for Insurance Pricing market is projected to grow from US$ 860 million in 2024 to US$ 1333 million by 2031, at a CAGR of 6.6% (2025-2031), driven by critical product segments and diverse end‑use applications.
Published: 2025-08-05
Pages: 155
The global Actuarial Software for Insurance Pricing market size was US$ 860 million in 2024 and is forecast to a readjusted size of US$ 1333 million by 2031 with a CAGR of 6.6% during the forecast period 2025-2031.
Published: 2025-09-06
Pages: 107
The global market for Actuarial Software for Insurance Pricing was estimated to be worth US$ 911 million in 2025 and is projected to reach US$ 1411 million, growing at a CAGR of 6.6% from 2026 to 2032.
Published: 2026-01-08
Pages: 122
The global Actuarial Software for Insurance Pricing market size was US$ 911 million in 2025 and is forecast to reach a readjusted size of US$ 1411 million by 2032 with a CAGR of 6.6% during the forecast period 2026-2032.
Published: 2026-03-25
Pages: 103
The global Actuarial Software for Insurance Pricing market is projected to grow from US$ 911 million in 2025 to US$ 1411 million by 2032, at a CAGR of 6.6% (2026-2032), driven by critical product segments and diverse end‑use applications.
Published: 2026-03-25
Pages: 147
REPORT COVERAGE
Market Segmentation
QYResearch's Strengths
TABLE OF CONTENTS
TABLE OF FIGURES
RLEATED REPORTS
Interest In This Report?
Get A Free Sample
Pre-Order Enquiry
OR
Need a Tailored Report?
Customize this report to your needs.
Customize This Report
Fact Checked
Cite this Research