The Global Short Term Insurance Market is estimated to be valued at USD 204.16 billion in 2025 and is expected to reach USD 317.01 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.5% from 2025 to 2032. The market has witnessed steady growth due to the increasing demand for flexible and cost-effective insurance policies across various industries, including healthcare, automotive, travel, and property. With rising consumer awareness and digitalization in the insurance sector, short-term policies have gained traction as they offer tailored coverage with lower commitment periods. Additionally, the expansion of online insurance platforms and the introduction of AI-driven underwriting processes are further supporting market growth. However, challenges, such as regulatory complexities and fraudulent claims, pose significant concerns for market players.
Market Dynamics:
The global short term insurance market is driven by growing consumer preference for on-demand, customizable insurance solutions. The rising adoption of usage-based insurance (UBI), especially in the automotive and travel segments, has significantly contributed to market expansion. Additionally, increasing penetration of digital insurance platforms and InsurTech innovations have simplified policy issuance, claim processing, and risk assessment. However, the market faces challenges due to stringent regulatory frameworks, pricing pressures, and fraudulent claims, which impact profitability. Compliance with varying regulations across regions remains a key concern for insurers. Meanwhile, opportunities lie in the expansion of microinsurance, catering to underserved populations, and leveraging Blockchain technology to enhance transparency and security in policy management. As digital transformation continues to reshape the industry, market players are expected to focus on strategic partnerships, AI-driven risk assessment, and product innovation to maintain a competitive edge.
Key Features of the Study:
- This report provides in-depth analysis of the global short term insurance market, and provides market size (US$ Billion) and compound annual growth rate (CAGR%) for the forecast period (2025–2032), considering 2024 as the base year
- It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
- This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
- It profiles key players in the global short term insurance market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
- Key companies covered as a part of this study include Allianz, Cigna TTK, Zurich, BUPA, UnitedHealth Group, Anthem, CVS Health, Humana, Centene, WellCare Health Plans, State Farm, Liberty Mutual, Chubb, SBI Holdings, and Santam
- Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
- The global short term insurance market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Market Segmentation
Table of Contents
*Browse 32 market data tables and 28 figures on ‘Short Term Insurance Market' - Global forecast to 2032
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