The 18 high-growth sectors could generate between $29t and $48t in revenues by 2040.
The insurance sector is facing a structural transformation as 18 high-growth industries emerge to reshape global risk exposures and create new demand for coverage, just as traditional premium growth begins to slow.
Research by McKinsey & Company indicates these expanding sectors could generate between $29t and $48t in revenues by 2040.
Revenues across these industries grew ten times faster than the broader economy between 2022 and 2025, adding nearly $18t in market capitalisation.
Artificial intelligence foundation technologies led this growth, accounting for $10.77t of the gains. These shifts occur as global insured losses from natural disasters exceeded $127b in 2025.
In life insurance, medical breakthroughs are altering long-standing actuarial assumptions. Clinical trial data shows GLP-1 obesity drugs reduce major cardiovascular events by 20%.
Munich Re estimates these treatments could improve annual mortality rates by 0.2% to 0.5% over 20 years, affecting policy pricing and pension payout periods. Advances in genetic testing are also shifting underwriting towards individualised risk profiles.
In motor and property lines, technology is raising claim severity. Repairing electric vehicles costs 20% to 30% more than conventional cars, with battery damage often causing total-loss write-offs.
Commercial insurers face expanding exposures across high-value assets. Hyperscale data centres now frequently exceed $10b in total insured value, whilst active satellites in orbit have grown from roughly 2,000 in 2019 to over 18,000 today.
To handle these evolving risks, insurers are adopting new capital tools, such as Beazley issuing $670m in cyber catastrophe bonds alongside $1b in excess-of-loss cover.