PUBLISHER: TechNavio | PRODUCT CODE: 1801582
PUBLISHER: TechNavio | PRODUCT CODE: 1801582
The AI in insurance claims processing market is forecasted to grow by USD 1,390.5 mn during 2024-2029, accelerating at a CAGR of 28.4% during the forecast period. The report on the AI in insurance claims processing market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by escalating demand for automation to enhance operational efficiency and reduce costs, proliferation of advanced AI technologies, particularly generative AI, and surging customer expectations for a digital first, personalized claims experience.
Market Scope | |
---|---|
Base Year | 2025 |
End Year | 2029 |
Series Year | 2025-2029 |
Growth Momentum | Accelerate |
YOY 2025 | 26.7% |
CAGR | 28.4% |
Incremental Value | $1,390.5 mn |
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market size data, segment with regional analysis and vendor landscape in addition to an analysis of the key companies. Reports have historic and forecast data.
Technavio's AI in insurance claims processing market is segmented as below:
By Component
By Deployment
By Technology
By Geographical Landscape
This study identifies the proliferation of generative AI for enhanced decision making and customer experience as one of the prime reasons driving the AI in insurance claims processing market growth during the next few years. Also, hyper-automation and intelligent document processing at scale and advanced computer vision for automated damage assessment and triage will lead to sizable demand in the market.
The report on the AI in insurance claims processing market covers the following areas:
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading AI in insurance claims processing market vendors that include Amazon Web Services Inc., Bdeo Technologies S.L., Duck Creek Technologies LLC, FRISS, Google Cloud, Guidewire Software Inc., International Business Machines Corp., LexisNexis Legal and Professional, Microsoft Corp., Open Text Corp., Pegasystems Inc., Ravin AI Ltd., SAS Institute Inc., Shift Technology, Solera Holdings LLC, Tractable Ltd., UiPath Inc., and Verisk Analytics Inc.. Also, the AI in insurance claims processing market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive primary and secondary research. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.
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