Middle East P&C Insurance Core Platform Market by Platform (Policy Management, Billing Management, and Claims Management), by Insurance Type (Personal, Commercial, and Specialty), by Deployment (Cloud and On-Premise), and by Enterprise Size (Large Enterprises and Small and Medium-Sized Enterprises (SMEs)) – Opportunity Analysis and Industry Forecast, 2025–2030
Industry: ICT & Media | Lastest Edition: April 6, 2026 | No of Pages: N/A | No. of Tables: N/A | No. of Figures: N/A | Format: PDF | Report Code : IC4416
Middle East P&C Insurance Core Platform Market Overview
The Middle East P&C Insurance Core Platform Market size was valued at USD 53.71 million in 2024, and is predicted to reach USD 89.17 million by 2030, at a CAGR of 8% from 2025 to 2030.
The growing expansion of insurance sector in the market forward and rising importance towards the digitalization of insurance sector propels the Middle East P&C insurance core platform market growth. However, the high cost involved with the implementation of core platform solution limits the growth of the market. On the contrary, introduction of artificial intelligence and data analytics in core platform is anticipated to create future opportunity for the growth of the market. Moreover, the major players operating in the market are DXC Technology, Tungsten Automation among others who adopt various business strategies in order to enhance their market expansion and broaden their product offerings. With the advancement in technologies, the market is set for further revolution in the coming years and artificial intelligence enhances the risk assessment and analyze large amount of data and allows insurance providers to design the policy as per the requirements.
The Expansion of the Insurance Sector is Driving the Growth of the Middle East P&C Insurance Core Platform Market
The rapidly growing insurance sector in the Middle East significantly drives the growth of the property & casualty (P&C) insurance core platform market. As per the Insurance Authority's 2023 report, Saudi Arabia saw a 14.6% increase in gross written premiums, driven by motor, health, and property insurance sectors. This growth demands advanced P&C insurance core platforms to improve customer service, streamline operations, and manage a growing number of policies effectively.
Rising Emphasis Towards the Digitalization of Insurance Sector Fuels the Growth of the Middle East P&C Insurance Core Platform Market
Digitalization plays a vital role in the Middle East’s P&C insurance core platform market. For example, Qatar Insurance Company (QIC) launched qic.online in January 2023, offering a digital portal for buying and renewing various types of insurance policies in minutes. This customer-friendly approach eliminates paperwork and branch visits, making it easier for users to access insurance services. Such digital transformations emphasize the need for P&C insurance core platforms that enable seamless, efficient operations and improve overall market efficiency.
High Cost Associated with the Implementation of Core Platform Solutions Hinders the Middle East P&C Insurance Core Platform Market
Implementing and customizing P&C insurance core platforms comes with high upfront costs, including licensing fees, customization, data migration, employee training, and ongoing maintenance. For smaller insurance companies with limited budgets, these costs present a significant barrier. Additionally, insurers may resist adopting modern systems due to a preference for existing processes, concerns about compatibility with current systems, and perceived risks associated with new technology.
Integration of P&C Insurance Core Platforms with Data Analytics and AI Creates Opportunity
The integration of data analytics and AI presents a significant opportunity for the P&C insurance sector. These technologies enable insurers to leverage large data sets for more accurate risk assessments, faster claims processing, and enhanced customer engagement. AI and advanced analytics allow insurers to tailor offerings, optimize pricing strategies, and detect fraud. For instance, Insurity launched an AI-powered analytics solution in January 2024, improving predictive analytics, enhancing loss ratios, and aiding in strategic decision-making. This tool provides real-time insights, enabling insurers to better understand their portfolios and manage their operations proactively.
Competitive Landscape
The promising players operating in the Middle East P&C insurance core platform industry include Mendix Technology BV, DXC Technology, Tungsten Automation, Socotra, Damco Solutions, Xceedance, Oracle Corporation, Sapiens International Corporation, Capgemini, TCS, Cognizant, Wipro Limited, Salesforce, Inc, Infosys Limited, Sutherland, and others.
Middle East P&C Insurance Core Platform Market Key Segments
By Platform
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Policy Management
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Billing Management
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Claims Management
By Insurance Type
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Personal
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Commercial
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Specialty
By Deployment
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Cloud
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On-Premise
By Enterprise Size
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Large Enterprises
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Small and Medium-Sized Enterprises (SMEs)
Key Market Players
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Mendix Technology BV
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DXC Technology
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Tungsten Automation
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Socotra
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Damco Solutions
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Xceedance
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Oracle Corporation
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Sapiens International Corporation
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Capgemini
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TCS
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Cognizant
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Wipro Limited
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Salesforce, Inc
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Infosys Limited
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Sutherland
Report Scope and Segmentation:
|
Parameters |
Details |
|
Market Size in 2024 |
USD 53.71 million |
|
Revenue Forecast in 2030 |
USD 89.17 million |
|
Growth Rate |
CAGR of 8% from 2025 to 2030 |
|
Analysis Period |
2024–2030 |
|
Base Year Considered |
2024 |
|
Forecast Period |
2025–2030 |
|
Market Size Estimation |
Million (USD) |
|
Growth Factors |
|
|
Companies Profiled |
15 |
|
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
About the Author
Saista Faiyaz is a Research Associate specializing in analytical research, structured data review, and knowledge-driven insight development. She supports projects through methodical evaluation, cross-disciplinary understanding, and clear documentation that aid informed outcomes. With experience bridging research and technical domains, she contributes to organized learning processes, critical analysis, and collaborative problem solving. Her approach emphasizes accuracy, adaptability, and clarity, enabling consistent research support and meaningful contributions across diverse projects effectively.
About the Reviewer
Supradip Baul is an accomplished business consultant and strategist with over a decade of rich experience in market intelligence, strategy, technology, and business transformation. His work has included rigorous qualitative and quantitative analysis across multiple industries, helping clients shape investment decisions and long-term roadmaps. Earlier in his career, he was associated with Gartner, where he contributed to industry-leading reports and market share analyses. He has worked with leading global companies and holds an MBA with a dual specialization in Marketing and Finance.
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