Risk Management And Insurance Planning Market
Risk Management and Insurance Planning Market Forecasts to 2032 – Global Analysis By Component (Risk Management Services, Insurance Planning Services, Software & Platforms, Reinsurance & Captive Solutions and Other Components), Risk Type, Service Provider Type, Deployment, Organization Size and By Geography
According to Stratistics MRC, the Global Risk Management and Insurance Planning Market is accounted for $17.6 billion in 2025 and is expected to reach $45.8 billion by 2032 growing at a CAGR of 14.6% during the forecast period. Risk management and insurance planning involves identifying potential financial threats, evaluating their impact, and implementing strategies to mitigate losses. It ensures individuals and organizations are protected against unforeseen events through tailored insurance solutions. This process includes assessing risks, selecting appropriate coverage, and aligning policies with financial goals. Effective planning promotes financial stability, safeguards assets, and supports long-term resilience by minimizing exposure to liabilities and optimizing protection across personal, business, and investment domains.
According to the International Journal of Creative Research Thoughts (IJCRT), over 70% of insurance companies in India have integrated Enterprise Risk Management (ERM) frameworks to enhance operational resilience and regulatory compliance.
Market Dynamics:
Driver:
Increasing data breaches and ransomware attacks
The escalating frequency and sophistication of cyber threats are compelling organizations to prioritize robust risk management frameworks. With ransomware incidents targeting critical infrastructure and financial institutions, insurers are expanding coverage options for cyber liability. This surge in digital vulnerabilities has accelerated demand for predictive analytics, threat modeling, and real-time risk assessment tools. Enterprises are increasingly investing in integrated platforms that combine cybersecurity insurance with proactive monitoring capabilities.
Restraint:
Lack of skilled professionals in actuarial science, risk analytics, and compliance
Many firms struggle to recruit professionals adept in both quantitative modeling and regulatory interpretation. This shortage hampers the scalability of risk planning solutions and delays implementation of enterprise-wide frameworks. Additionally, the lack of interdisciplinary training programs limits the development of holistic risk professionals capable of navigating evolving market dynamics. The complexity of modeling emerging risks such as climate-related liabilities or algorithmic trading exposures requires specialized expertise that remains scarce.
Opportunity:
Integration of insurance into digital platforms
Embedded insurance models where coverage is seamlessly integrated into e-commerce, fintech, and mobility platforms are reshaping consumer engagement. Insurtech innovations such as AI-driven underwriting, blockchain-based claims processing, and API-enabled distribution channels are streamlining operations and enhancing transparency. This digital shift allows insurers to offer personalized, usage-based policies while reducing administrative overhead. As customer expectations evolve, platforms that deliver instant coverage and real-time risk insights are gaining traction across sectors
Threat:
Geopolitical and economic volatility
Volatile geopolitical landscapes and macroeconomic disruptions pose significant challenges to risk planning and insurance underwriting. Trade tensions, regulatory fragmentation, and currency fluctuations can undermine cross-border insurance operations and reinsurance treaties. Political unrest and sanctions may also impact asset valuations and increase exposure to contingent liabilities. Moreover, inflationary pressures and interest rate volatility affect capital adequacy and reserve requirements, straining insurers’ financial resilience.
Covid-19 Impact
The pandemic underscored the critical role of risk management in business continuity and operational resilience. Initial disruptions in global supply chains and workforce availability exposed vulnerabilities in traditional insurance models. However, the crisis also catalyzed innovation, with insurers rapidly adopting digital claims processing, virtual audits, and remote risk assessments. Demand surged for pandemic-related coverage, including business interruption and health liability policies. The shift toward remote work and telehealth services prompted reevaluation of cyber and professional indemnity risks.
The risk management services segment is expected to be the largest during the forecast period
The risk management services segment is estimated to have a lucrative growth, due to its pivotal role in enterprise governance and regulatory compliance. Organizations are increasingly outsourcing risk functions to specialized providers offering real-time analytics, scenario modeling, and regulatory reporting. These services help firms navigate complex risk landscapes, including cyber threats, ESG liabilities, and operational disruptions. The rise of managed risk platforms and consulting services tailored to industry-specific needs is further driving segment growth.
The liability & professional indemnity segment is expected to have the highest CAGR during the forecast period
The liability & professional indemnity segment is anticipated to witness the fastest CAGR growth during the forecast period, fueled by rising litigation risks and regulatory mandates. Professionals across sectors healthcare, legal, financial, and IT face increasing exposure to claims related to negligence, data breaches, and service errors. The proliferation of remote work and digital service delivery has amplified demand for indemnity coverage that addresses emerging risks. Insurers are developing tailored policies with flexible limits and cyber extensions to meet evolving client needs.
Region with highest share:
North America is projected to hold the highest market share during the forecast period owing to driven by its mature regulatory environment and advanced technological infrastructure. The region boasts a robust ecosystem of insurers, reinsurers, and risk consultants offering specialized solutions across industries. High adoption of enterprise risk management (ERM) frameworks and strong investment in insurtech platforms contribute to market leadership. Additionally, stringent compliance requirements and frequent litigation cases fuel demand for liability and cyber insurance products.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period, propelled by expanding digital economies, rising insurance penetration, and regulatory reforms. Countries like India, China, and Southeast Asian nations are witnessing rapid adoption of digital insurance platforms and risk analytics tools. Government initiatives promoting financial inclusion and disaster resilience are encouraging uptake of microinsurance and parametric policies. The region’s dynamic startup ecosystem is fostering innovation in embedded insurance and AI-powered underwriting.
Key players in the market
Some of the key players profiled in the Risk Management and Insurance Planning Market include Aon plc, Marsh McLennan, Willis Towers Watson, Arthur J. Gallagher & Co., Allianz SE, AXA Group, Zurich Insurance Group, Chubb Limited, MetLife Inc., Prudential Financial Inc., Munich Re, Swiss Re, Berkshire Hathaway Inc., Tokio Marine Holdings, Sompo Holdings, Manulife Financial Corporation, Cigna Corporation, and The Hartford Financial Services Group.
Key Developments:
In October 2025, Oliver Wyman (a Marsh McLennan business) launched a joint study with IATA on aircraft supply chain challenges. The report warns airlines could lose over $11B due to production delays. It proposes solutions to stabilize aerospace operations.
In October 2025, Merit Medicine integrated Willis Towers Watson’s HealthMAPS® into its predictive analytics platform. The partnership enhances underwriting precision for over 200 carriers. It combines actuarial rigor with clinical modeling.
In October 2025, AXA launched its “Dare to Thrive” STEM initiative for 10,000 girls in India. It partners with FUEL to provide scholarships and computer labs. The campaign celebrates AXA’s 40th anniversary.
Components Covered:
• Risk Management Services
• Insurance Planning Services
• Software & Platforms
• Reinsurance & Captive Solutions
• Other Components
Risk Types Covered:
• Property & Casualty Risk
• Liability & Professional Indemnity
• Cyber & Technology Risk
• Financial Credit Risk
• Supply Chain & Business Interruption
• Employee Benefits & HR Risk
• Other Risk Types
Service Provider Types Covered:
• Insurance Brokers & Intermediaries
• Insurers & Reinsurers
• Risk Consulting & Audit Firms
• Third-party Administrators (TPAs) & Claims Managers
• Insurtech & Analytics Vendors
• Other Service Provider Types
Deployments Covered:
• On-premise
• Cloud
• Hybrid Models
Organization Sizes Covered:
• Large Enterprises
• Small & Medium Scale Enterprises
End Users Covered:
• BFSI (Banks, Financial Services & Insurance)
• Manufacturing & Industrials
• Healthcare & Pharma
• Energy & Utilities
• Retail & E-commerce
• Government & Education
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2024, 2025, 2026, 2028, and 2032
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Risk Management and Insurance Planning Market, By Component
5.1 Introduction
5.2 Risk Management Services
5.3 Insurance Planning Services
5.4 Software & Platforms
5.4.1 ERM Platforms
5.4.2 Claim Management
5.4.3 Analytics
5.5 Reinsurance & Captive Solutions
5.6 Other Components
6 Global Risk Management and Insurance Planning Market, By Risk Type
6.1 Introduction
6.2 Property & Casualty Risk
6.3 Liability & Professional Indemnity
6.4 Cyber & Technology Risk
6.5 Financial Credit Risk
6.6 Supply Chain & Business Interruption
6.7 Employee Benefits & HR Risk
6.8 Other Risk Types
7 Global Risk Management and Insurance Planning Market, By Service Provider Type
7.1 Introduction
7.2 Insurance Brokers & Intermediaries
7.3 Insurers & Reinsurers
7.4 Risk Consulting & Audit Firms
7.5 Third-party Administrators (TPAs) & Claims Managers
7.6 Insurtech & Analytics Vendors
7.7 Other Service Provider Types
8 Global Risk Management and Insurance Planning Market, By Deployment
8.1 Introduction
8.2 On-premise
8.3 Cloud
8.4 Hybrid Models
9 Global Risk Management and Insurance Planning Market, By Organization Size
9.1 Introduction
9.2 Large Enterprises
9.3 Small & Medium Scale Enterprises
10 Global Risk Management and Insurance Planning Market, By End User
10.1 Introduction
10.2 BFSI (Banks, Financial Services & Insurance)
10.3 Manufacturing & Industrials
10.4 Healthcare & Pharma
10.5 Energy & Utilities
10.6 Retail & E-commerce
10.7 Government & Education
10.8 Other End Users
11 Global Risk Management and Insurance Planning Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Aon plc
13.2 Marsh McLennan
13.3 Willis Towers Watson
13.4 Arthur J. Gallagher & Co.
13.5 Allianz SE
13.6 AXA Group
13.7 Zurich Insurance Group
13.8 Chubb Limited
13.9 MetLife Inc.
13.10 Prudential Financial Inc.
13.11 Munich Re
13.12 Swiss Re
13.13 Berkshire Hathaway Inc.
13.14 Tokio Marine Holdings
13.15 Sompo Holdings
13.16 Manulife Financial Corporation
13.17 Cigna Corporation
13.18 The Hartford Financial Services Group
List of Tables
1 Global Risk Management and Insurance Planning Market Outlook, By Region (2024-2032) ($MN)
2 Global Risk Management and Insurance Planning Market Outlook, By Component (2024-2032) ($MN)
3 Global Risk Management and Insurance Planning Market Outlook, By Risk Management Services (2024-2032) ($MN)
4 Global Risk Management and Insurance Planning Market Outlook, By Insurance Planning Services (2024-2032) ($MN)
5 Global Risk Management and Insurance Planning Market Outlook, By Software & Platforms (2024-2032) ($MN)
6 Global Risk Management and Insurance Planning Market Outlook, By ERM Platforms (2024-2032) ($MN)
7 Global Risk Management and Insurance Planning Market Outlook, By Claim Management (2024-2032) ($MN)
8 Global Risk Management and Insurance Planning Market Outlook, By Analytics (2024-2032) ($MN)
9 Global Risk Management and Insurance Planning Market Outlook, By Reinsurance & Captive Solutions (2024-2032) ($MN)
10 Global Risk Management and Insurance Planning Market Outlook, By Other Components (2024-2032) ($MN)
11 Global Risk Management and Insurance Planning Market Outlook, By Risk Type (2024-2032) ($MN)
12 Global Risk Management and Insurance Planning Market Outlook, By Property & Casualty Risk (2024-2032) ($MN)
13 Global Risk Management and Insurance Planning Market Outlook, By Liability & Professional Indemnity (2024-2032) ($MN)
14 Global Risk Management and Insurance Planning Market Outlook, By Cyber & Technology Risk (2024-2032) ($MN)
15 Global Risk Management and Insurance Planning Market Outlook, By Financial Credit Risk (2024-2032) ($MN)
16 Global Risk Management and Insurance Planning Market Outlook, By Supply Chain & Business Interruption (2024-2032) ($MN)
17 Global Risk Management and Insurance Planning Market Outlook, By Employee Benefits & HR Risk (2024-2032) ($MN)
18 Global Risk Management and Insurance Planning Market Outlook, By Other Risk Types (2024-2032) ($MN)
19 Global Risk Management and Insurance Planning Market Outlook, By Service Provider Type (2024-2032) ($MN)
20 Global Risk Management and Insurance Planning Market Outlook, By Insurance Brokers & Intermediaries (2024-2032) ($MN)
21 Global Risk Management and Insurance Planning Market Outlook, By Insurers & Reinsurers (2024-2032) ($MN)
22 Global Risk Management and Insurance Planning Market Outlook, By Risk Consulting & Audit Firms (2024-2032) ($MN)
23 Global Risk Management and Insurance Planning Market Outlook, By Third-party Administrators (TPAs) & Claims Managers (2024-2032) ($MN)
24 Global Risk Management and Insurance Planning Market Outlook, By Insurtech & Analytics Vendors (2024-2032) ($MN)
25 Global Risk Management and Insurance Planning Market Outlook, By Other Service Provider Types (2024-2032) ($MN)
26 Global Risk Management and Insurance Planning Market Outlook, By Deployment (2024-2032) ($MN)
27 Global Risk Management and Insurance Planning Market Outlook, By On-premise (2024-2032) ($MN)
28 Global Risk Management and Insurance Planning Market Outlook, By Cloud (2024-2032) ($MN)
29 Global Risk Management and Insurance Planning Market Outlook, By Hybrid Models (2024-2032) ($MN)
30 Global Risk Management and Insurance Planning Market Outlook, By Organization Size (2024-2032) ($MN)
31 Global Risk Management and Insurance Planning Market Outlook, By Large Enterprises (2024-2032) ($MN)
32 Global Risk Management and Insurance Planning Market Outlook, By Small & Medium Scale Enterprises (2024-2032) ($MN)
33 Global Risk Management and Insurance Planning Market Outlook, By End User (2024-2032) ($MN)
34 Global Risk Management and Insurance Planning Market Outlook, By BFSI (Banks, Financial Services & Insurance) (2024-2032) ($MN)
35 Global Risk Management and Insurance Planning Market Outlook, By Manufacturing & Industrials (2024-2032) ($MN)
36 Global Risk Management and Insurance Planning Market Outlook, By Healthcare & Pharma (2024-2032) ($MN)
37 Global Risk Management and Insurance Planning Market Outlook, By Energy & Utilities (2024-2032) ($MN)
38 Global Risk Management and Insurance Planning Market Outlook, By Retail & E-commerce (2024-2032) ($MN)
39 Global Risk Management and Insurance Planning Market Outlook, By Government & Education (2024-2032) ($MN)
40 Global Risk Management and Insurance Planning Market Outlook, By Other End Users (2024-2032) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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