The global insurance industry experienced a 24% decline in the number of cybersecurity-related patent applications in Q1 2024 compared with the previous quarter. The total number of cybersecurity-related grants dropped by 25% in Q1 2024, according to GlobalData’s Patent Analytics. GlobalData’s databook Insurance: Patents Trends Q1 2024 offers comprehensive insights into patenting trends, major players’ strategies, and geographical focus in the sector over the last three years. Buy the databook here.

Notably, the number of cybersecurity-related patent applications in the insurance industry was 114 in Q1 2024, versus 150 in the prior quarter.

The top five companies accounted for 23% of patenting activity

Analysis of patenting activity by companies shows that State Farm Mutual Automobile Insurance filed the most cybersecurity patents within the insurance industry in Q1 2024. The company filed 13 cybersecurity-related patents in the quarter, compared with 9 in the previous quarter. It was followed by Ping An Insurance (Group) Company of China with 5 cybersecurity patent filings, Allstate (3 filings), and China Ping An Property and Casualty (3 filings) in Q1 2024.

Patenting activity was driven by the US with a 72% share of total patent filings

The largest share of cybersecurity related patent filings in the insurance industry in Q1 2024 was in the US with 72%, followed by China (27%) and Japan (4%). The share represented by the US was 33% higher than the 39% share it accounted for in Q4 2023.

For further understanding of GlobalData's Insurance: Patents Trends Q1 2024, buy the databook here.

This content was updated on 18 April 2024

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.