The insurance industry continues to be a hotbed of patent innovation. Activity is driven by growing demand for digitalization and personalization. With the growing importance of technologies such as telematics, machine learning, big data, deep learning, and data science, insurers are overcoming demographic challenges, low penetration rates, cybercrimes, and fraudulent claims. In the last three years alone, there have been over 17,000 patents filed and granted in the insurance industry, according to GlobalData’s report on Artificial intelligence in Insurance: treatment expense predictionBuy the report here.

However, not all innovations are equal and nor do they follow a constant upward trend. Instead, their evolution takes the form of an S-shaped curve that reflects their typical lifecycle from early emergence to accelerating adoption, before finally stabilizing and reaching maturity.

Identifying where a particular innovation is on this journey, especially those that are in the emerging and accelerating stages, is essential for understanding their current level of adoption and the likely future trajectory and impact they will have.

20+ innovations will shape the insurance industry

According to GlobalData’s Technology Foresights, which plots the S-curve for the insurance industry using innovation intensity models built on over 70,000 patents, there are 20+ innovation areas that will shape the future of the industry.

Within the emerging innovation stage, underwriting AI, predictive risk analysis and insurance documentation AI are disruptive technologies that are in the early stages of application and should be tracked closely. Insurance fraud detection AI, smart policy management, and smart vehicle damage assessment are some of the accelerating innovation areas, where adoption has been steadily increasing. Among maturing innovation areas is automated weather forecasting, which is now well established in the industry.

Innovation S-curve for artificial intelligence in the insurance industry

Treatment expense prediction is a key innovation area in artificial intelligence

AI-enabled analysis has equipped insurers to accurately estimate the treatment and hospitalization expenses of policyholders and potential customers. AI models make personalized cost predictions by examining multiple elements, including patient history, illness, treatment choices, and medical expenses. Insurers and patients can use this information to determine the insurance coverage needed.

GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 80+ companies, spanning technology vendors, established insurance companies, and up-and-coming start-ups engaged in the development and application of treatment expense prediction.

Key players in treatment expense prediction – a disruptive innovation in the insurance industry

‘Application diversity’ measures the number of applications identified for each patent. It broadly splits companies into either ‘niche’ or ‘diversified’ innovators.

‘Geographic reach’ refers to the number of countries each patent is registered in. It reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.

Patent volumes related to treatment expense prediction

Company Total patents (2010 - 2022) Premium intelligence on the world's largest companies
Cota Inc 36 Unlock Company Profile
Johnson & Johnson 34 Unlock Company Profile
Theator Inc. 34 Unlock Company Profile
UnitedHealth Group Inc 14 Unlock Company Profile
Koninklijke Philips NV 13 Unlock Company Profile
Ping An Insurance (Group) Company of China Ltd 13 Unlock Company Profile
Beta Bionics Inc 12 Unlock Company Profile
Oracle Corp 12 Unlock Company Profile
F. Hoffmann-La Roche Ltd 12 Unlock Company Profile
Advanced Medical Solutions Group Plc 9 Unlock Company Profile
The Parkland Center for Clinical Innovation 7 Unlock Company Profile
Quality Healthcare Intermediary, LLC 6 Unlock Company Profile
Admetsys Corp 6 Unlock Company Profile
International Business Machines Corp 6 Unlock Company Profile
CVS Health Corp 6 Unlock Company Profile
Asahi Kasei Corp 6 Unlock Company Profile
Amino Inc 6 Unlock Company Profile
Walmart Inc 5 Unlock Company Profile
Commonwealth Scientific and Industrial Research Organisation 5 Unlock Company Profile
Launch Tech Company Ltd 5 Unlock Company Profile
Salesforce Inc 5 Unlock Company Profile
Express Scripts Insurance Company 5 Unlock Company Profile
NovoDynamics Inc 4 Unlock Company Profile
Embracer Group AB 4 Unlock Company Profile
Microsoft Corp 4 Unlock Company Profile
ROM Technologies Inc 4 Unlock Company Profile
Persivia Inc 4 Unlock Company Profile
Panasonic Holdings Corp 3 Unlock Company Profile
Intellectual Ventures Management LLC 3 Unlock Company Profile
Walgreens Boots Alliance Inc 3 Unlock Company Profile
The Cigna Group 3 Unlock Company Profile
3M Co 3 Unlock Company Profile
Truveris Inc 3 Unlock Company Profile
Searete LLC 3 Unlock Company Profile
Zyter Inc 3 Unlock Company Profile
Clarify Health Solutions Inc 2 Unlock Company Profile
PulseData, Inc. 2 Unlock Company Profile
Millennium Health LLC 2 Unlock Company Profile
b.well Connected Health Inc 2 Unlock Company Profile
Clover Health Investments Corp 2 Unlock Company Profile
P3 Health Partners 2 Unlock Company Profile
Ping An International Smart City Technology Co Ltd 2 Unlock Company Profile
Kaid Health Inc 2 Unlock Company Profile
Pirche AG 2 Unlock Company Profile
SiriusPoint Ltd 2 Unlock Company Profile
Alphabet Inc 2 Unlock Company Profile
Bank of America Corp 2 Unlock Company Profile
Fujifilm Holdings Corp 2 Unlock Company Profile
Canon Inc 2 Unlock Company Profile
Micron Technology Inc 1 Unlock Company Profile

Source: GlobalData Patent Analytics

Ping An Insurance is one of the leading patent filers in medical insurance expense prediction methods, devices, equipment, and storage medium. The company’s invention relates to the technical area of medical treatment and entails obtaining and analyzing an insured patient's historical treatment records. By using the technique, significant errors brought on by estimating the cost of medical insurance based on growth rates can be reduced, and the precision of medical insurance cost prediction is increased. Some other key patent filers in AI for treatment expense prediction for the insurance industry include Cota, Johnson & Johnson, Theator, and Oracle

In terms of application diversity, Johnson & Johnson leads the pack, with Beta Bionics and Theator in second and third positions, respectively.

By means of geographic reach, Cota holds the top position, followed by Theator and Beta Bionics. 

To further understand the key themes and technologies disrupting the insurance industry, access GlobalData’s latest thematic research report on Artificial Intelligence (AI) In Insurance.

Premium Insights


The gold standard of business intelligence.

Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.


GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.