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Market Research Report
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1090098

Global Claims Processing Software Market Size study, By Component, By Enterprise Size, By End User, and Regional Forecasts 2022-2028

Published: | Bizwit Research & Consulting LLP | Delivery time: 2-3 business days

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Global Claims Processing Software Market Size study, By Component, By Enterprise Size, By End User, and Regional Forecasts 2022-2028
Published: June 13, 2022
Bizwit Research & Consulting LLP
Delivery time: 2-3 business days
  • Description
  • Table of Contents
  • List of Tables

Global Claims Processing Software Market is valued approximately USD XXmillion in 2021 and is anticipated to grow with a healthy growth rate of more than XX %over the forecast period 2022-2028.The Claims Processing Softwareoffer efficient and user friendly interface, facilitating the complete lifecycle of claims. It features different function for fast, efficient and error free services such as data capture, authorization and approval of claim, Payment tracking, parts tracking, legal matter processing and monitoring among others. The growing worldwide insurance market and rising preference toward claims processing software as well as recent partnership activities are accelerating the global market demand. For instance,according to Statista - in 2021, global Insurance market was estimated at USD 5500 billion, and this amount is projected to grow to USD 6400 billion by 2025. The market is witnessing several collaboration and funding activities. For instance, in March 2022, Whatfix, entered in a partnership with Duck Creek Technologies. Under this partnership both the players would work toward integrating Whatfix's Digital Adoption Platform (DAP) with Duck Creek Claims to offer contextual information within the platform, enabling users to navigate claims processes. Moreover, in April 2022, EvolutionIQraised USD 21 million in a Series A round led by Brewer Lane Ventures. Other participants in the funding were FirstRound Capital, FirstMark Capital, Foundation Capital, Altai Ventures, Asymmetric Ventures and insurance carriers Reliance Standard Life, New York Life Ventures, Guardian Life and Sedgwick.Also, growing penetration of global insurance players in emerging markets and rising number of digital insurance providers are anticipated to act as a catalyzing factor for the market demand during the forecast period.However, high deployment and upgradation costimpede the growth of the market over the forecast period of 2022-2028.

The key regions considered for the global Claims Processing Software Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing adoption of digital tools in insurance sector and presence of leading market players. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as growing emergence of digital insurance providers and rising insurance penetration in the region, would create lucrative growth prospects for the Claims Processing Software Market across the Asia Pacific region.

Major market players included in this report are:

Duck Creek Technologies

FINEOS

Hyland Software, Inc.

Hawksoft, Inc.

HIPPAsuite

Newgen Software Technologies Limited

Pegasystems Inc.

Quick Silver

VENTIV TECHNOLOGY

a1 enterprise, inc.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component

Software

Services

By Enterprise Size

Large Enterprises

Small and Medium-sized Enterprises

By End User

Insurance Companies

Insurance Intermediaries

Agents and Brokers

Others

By Region:

North America

U.S.

Canada

Europe

UK

Germany

France

Spain

Italy

ROE

Asia Pacific

China

India

Japan

Australia

South Korea

RoAPAC

Latin America

Brazil

Mexico

Rest of the World

Furthermore, years considered for the study are as follows:

Historical year - 2018, 2019, 2020

Base year - 2021

Forecast period - 2022 to 2028

Target Audience of the Global Claims Processing Software Market in Market Study:

Key Consulting Companies & Advisors

Large, medium-sized, and small enterprises

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

Investment bankers

Investors

Table of Contents

Chapter 1. Executive Summary

  • 1.1. Market Snapshot
  • 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2028 (USD Million)
    • 1.2.1. Global Claims Processing Software Market, by Region, 2020-2028 (USD Million)
    • 1.2.2. Global Claims Processing Software Market, by Component, 2020-2028 (USD Million)
    • 1.2.3. Global Claims Processing Software Market, by Enterprise Size, 2020-2028 (USD Million)
    • 1.2.4. Global Claims Processing Software Market, by End User, 2020-2028 (USD Million)
  • 1.3. Key Trends
  • 1.4. Estimation Methodology
  • 1.5. Research Assumption

Chapter 2. Global Claims Processing Software Market Definition and Scope

  • 2.1. Objective of the Study
  • 2.2. Market Definition & Scope
    • 2.2.1. Scope of the Study
    • 2.2.2. Industry Evolution
  • 2.3. Years Considered for the Study
  • 2.4. Currency Conversion Rates

Chapter 3. Global Claims Processing Software Market Dynamics

  • 3.1. Claims Processing Software Market Impact Analysis (2020-2028)
    • 3.1.1. Market Drivers
      • 3.1.1.1. Growing worldwide insurance market
      • 3.1.1.2. Rising preference toward claims processing software.
      • 3.1.1.3. Recent partnership activities.
    • 3.1.2. Market Challenges
      • 3.1.2.1. High deployment and upgradation cost.
    • 3.1.3. Market Opportunities
      • 3.1.3.1. Growing penetration of global insurance players in emerging markets.
      • 3.1.3.2. Rising number of digital insurance providers.

Chapter 4. Global Claims Processing Software Market Industry Analysis

  • 4.1. Porter's 5 Force Model
    • 4.1.1. Bargaining Power of Suppliers
    • 4.1.2. Bargaining Power of Buyers
    • 4.1.3. Threat of New Entrants
    • 4.1.4. Threat of Substitutes
    • 4.1.5. Competitive Rivalry
    • 4.1.6. Futuristic Approach to Porter's 5 Force Model (2018-2028)
  • 4.2. PEST Analysis
    • 4.2.1. Political
    • 4.2.2. Economical
    • 4.2.3. Social
    • 4.2.4. Technological
  • 4.3. Investment Adoption Model
  • 4.4. Analyst Recommendation & Conclusion
  • 4.5. Top investment opportunity
  • 4.6. Top winning strategies

Chapter 5. Risk Assessment: COVID-19 Impact

    • 5.1.1. Assessment of the overall impact of COVID-19 on the industry
    • 5.1.2. Pre COVID-19 and post COVID-19 Market scenario

Chapter 6. Global Claims Processing Software Market, by Component

  • 6.1. Market Snapshot
  • 6.2. Global Claims Processing Software Market by Component, Performance - Potential Analysis
  • 6.3. Global Claims Processing Software Market Estimates & Forecasts by Component2018-2028 (USD Million)
  • 6.4. Claims Processing Software Market, Sub Segment Analysis
    • 6.4.1. Software
    • 6.4.2. Services

Chapter 7. Global Claims Processing Software Market, by Enterprise Size

  • 7.1. Market Snapshot
  • 7.2. Global Claims Processing Software Market by Enterprise Size, Performance - Potential Analysis
  • 7.3. Global Claims Processing Software Market Estimates & Forecasts by Enterprise Size2018-2028 (USD Million)
  • 7.4. Claims Processing Software Market, Sub Segment Analysis
    • 7.4.1. Large Enterprises
    • 7.4.2. Small and Medium-sized Enterprises

Chapter 8. Global Claims Processing Software Market, by End User

  • 8.1. Market Snapshot
  • 8.2. Global Claims Processing Software Market by End User, Performance - Potential Analysis
  • 8.3. Global Claims Processing Software Market Estimates & Forecasts by End User2018-2028 (USD Million)
  • 8.4. Claims Processing Software Market, Sub Segment Analysis
    • 8.4.1. Insurance Companies
    • 8.4.2. Insurance Intermediaries
    • 8.4.3. Agents and Brokers
    • 8.4.4. Others

Chapter 9. Global Claims Processing Software Market, Regional Analysis

  • 9.1. Claims Processing Software Market, Regional Market Snapshot
  • 9.2. North America Claims Processing Software Market
    • 9.2.1. U.S. Claims Processing Software Market
      • 9.2.1.1. Component estimates & forecasts, 2018-2028
      • 9.2.1.2. Enterprise Size estimates & forecasts, 2018-2028
      • 9.2.1.3. End User estimates & forecasts, 2018-2028
    • 9.2.2. Canada Claims Processing Software Market
  • 9.3. Europe Claims Processing Software Market Snapshot
    • 9.3.1. U.K. Claims Processing Software Market
    • 9.3.2. Germany Claims Processing Software Market
    • 9.3.3. France Claims Processing Software Market
    • 9.3.4. Spain Claims Processing Software Market
    • 9.3.5. Italy Claims Processing Software Market
    • 9.3.6. Rest of Europe Claims Processing Software Market
  • 9.4. Asia-Pacific Claims Processing Software Market Snapshot
    • 9.4.1. China Claims Processing Software Market
    • 9.4.2. India Claims Processing Software Market
    • 9.4.3. Japan Claims Processing Software Market
    • 9.4.4. Australia Claims Processing Software Market
    • 9.4.5. South Korea Claims Processing Software Market
    • 9.4.6. Rest of Asia Pacific Claims Processing Software Market
  • 9.5. Latin America Claims Processing Software Market Snapshot
    • 9.5.1. Brazil Claims Processing Software Market
    • 9.5.2. Mexico Claims Processing Software Market
  • 9.6. Rest of The World Claims Processing Software Market

Chapter 10. Competitive Intelligence

  • 10.1. Top Market Strategies
  • 10.2. Company Profiles
    • 10.2.1. Duck Creek Technologies
      • 10.2.1.1. Key Information
      • 10.2.1.2. Overview
      • 10.2.1.3. Financial (Subject to Data Availability)
      • 10.2.1.4. Product Summary
      • 10.2.1.5. Recent Developments
    • 10.2.2. FINEOS
    • 10.2.3. Hyland Software, Inc.
    • 10.2.4. Hawksoft, Inc.
    • 10.2.5. HIPPAsuite
    • 10.2.6. Newgen Software Technologies Limited
    • 10.2.7. Pegasystems Inc.
    • 10.2.8. Quick Silver
    • 10.2.9. VENTIV TECHNOLOGY
    • 10.2.10. a1 enterprise, inc.

Chapter 11. Research Process

  • 11.1. Research Process
    • 11.1.1. Data Mining
    • 11.1.2. Analysis
    • 11.1.3. Market Estimation
    • 11.1.4. Validation
    • 11.1.5. Publishing
  • 11.2. Research Attributes
  • 11.3. Research Assumption

LIST OF TABLES

  • TABLE 1. Global Claims Processing Software Market, report scope
  • TABLE 2. Global Claims Processing Software Market estimates & forecasts by Region 2018-2028 (USD Million)
  • TABLE 3. Global Claims Processing Software Market estimates & forecasts by Component2018-2028 (USD Million)
  • TABLE 4. Global Claims Processing Software Market estimates & forecasts by Enterprise Size2018-2028 (USD Million)
  • TABLE 5. Global Claims Processing Software Market estimates & forecasts by End User2018-2028 (USD Million)
  • TABLE 6. Global Claims Processing Software Market by segment, estimates & forecasts, 2018-2028 (USD Million)
  • TABLE 7. Global Claims Processing Software Market by region, estimates & forecasts, 2018-2028 (USD Million)
  • TABLE 8. Global Claims Processing Software Market by segment, estimates & forecasts, 2018-2028 (USD Million)
  • TABLE 9. Global Claims Processing Software Market by region, estimates & forecasts, 2018-2028 (USD Million)
  • TABLE 10. Global Claims Processing Software Market by segment, estimates & forecasts, 2018-2028 (USD Million)
  • TABLE 11. Global Claims Processing Software Market by region, estimates & forecasts, 2018-2028 (USD Million)
  • TABLE 12. Global Claims Processing Software Market by segment, estimates & forecasts, 2018-2028 (USD Million)
  • TABLE 13. Global Claims Processing Software Market by region, estimates & forecasts, 2018-2028 (USD Million)
  • TABLE 14. Global Claims Processing Software Market by segment, estimates & forecasts, 2018-2028 (USD Million)
  • TABLE 15. Global Claims Processing Software Market by region, estimates & forecasts, 2018-2028 (USD Million)
  • TABLE 16. U.S. Claims Processing Software Market estimates & forecasts, 2018-2028 (USD Million)
  • TABLE 17. U.S. Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 18. U.S. Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 19. Canada Claims Processing Software Market estimates & forecasts, 2018-2028 (USD Million)
  • TABLE 20. Canada Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 21. Canada Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 22. UK Claims Processing Software Market estimates & forecasts, 2018-2028 (USD Million)
  • TABLE 23. UK Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 24. UK Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 25. Germany Claims Processing Software Market estimates & forecasts, 2018-2028 (USD Million)
  • TABLE 26. Germany Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 27. Germany Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 28. RoE Claims Processing Software Market estimates & forecasts, 2018-2028 (USD Million)
  • TABLE 29. RoE Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 30. RoE Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 31. China Claims Processing Software Market estimates & forecasts, 2018-2028 (USD Million)
  • TABLE 32. China Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 33. China Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 34. India Claims Processing Software Market estimates & forecasts, 2018-2028 (USD Million)
  • TABLE 35. India Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 36. India Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 37. Japan Claims Processing Software Market estimates & forecasts, 2018-2028 (USD Million)
  • TABLE 38. Japan Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 39. Japan Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 40. RoAPAC Claims Processing Software Market estimates & forecasts, 2018-2028 (USD Million)
  • TABLE 41. RoAPAC Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 42. RoAPAC Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 43. Brazil Claims Processing Software Market estimates & forecasts, 2018-2028 (USD Million)
  • TABLE 44. Brazil Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 45. Brazil Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 46. Mexico Claims Processing Software Market estimates & forecasts, 2018-2028 (USD Million)
  • TABLE 47. Mexico Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 48. Mexico Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 49. RoLA Claims Processing Software Market estimates & forecasts, 2018-2028 (USD Million)
  • TABLE 50. RoLA Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 51. RoLA Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 52. Row Claims Processing Software Market estimates & forecasts, 2018-2028 (USD Million)
  • TABLE 53. Row Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 54. Row Claims Processing Software Market estimates & forecasts by segment 2018-2028 (USD Million)
  • TABLE 55. List of secondary sources, used in the study of global Claims Processing Software Market
  • TABLE 56. List of primary sources, used in the study of global Claims Processing Software Market
  • TABLE 57. Years considered for the study
  • TABLE 58. Exchange rates considered

LIST OF FIGURES

List of figures

  • FIG 1. Global Claims Processing Software Market, research methodology
  • FIG 2. Global Claims Processing Software Market, Market estimation techniques
  • FIG 3. Global Market size estimates & forecast methods
  • FIG 4. Global Claims Processing Software Market, key trends 2021
  • FIG 5. Global Claims Processing Software Market, growth prospects 2022-2028
  • FIG 6. Global Claims Processing Software Market, porters 5 force model
  • FIG 7. Global Claims Processing Software Market, pest analysis
  • FIG 8. Global Claims Processing Software Market, value chain analysis
  • FIG 9. Global Claims Processing Software Market by segment, 2018 & 2028 (USD Million)
  • FIG 10. Global Claims Processing Software Market by segment, 2018 & 2028 (USD Million)
  • FIG 11. Global Claims Processing Software Market by segment, 2018 & 2028 (USD Million)
  • FIG 12. Global Claims Processing Software Market by segment, 2018 & 2028 (USD Million)
  • FIG 13. Global Claims Processing Software Market by segment, 2018 & 2028 (USD Million)
  • FIG 14. Global Claims Processing Software Market, regional snapshot 2018 & 2028
  • FIG 15. North America Claims Processing Software Market2018 & 2028 (USD Million)
  • FIG 16. Europe Claims Processing Software Market2018 & 2028 (USD Million)
  • FIG 17. Asia pacific Market2018 & 2028 (USD Million)
  • FIG 18. Latin America Claims Processing Software Market2018 & 2028 (USD Million)
  • FIG 19. Global Claims Processing Software Market, company Market share analysis (2021)