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Rising Demand for Personalized Claims Assistance Fueling Market Growth Due To AI-Driven Customer Support: A Key Driver Powering Artificial Intelligence (AI) In Insurance Claims Processing Market Growth In 2025
Artificial Intelligence (AI) In Insurance Claims Processing Market Size
What Is the Current Artificial Intelligence (AI) In Insurance Claims Processing Market Size and Its Estimated Growth Rate?
The market size for artificial intelligence (AI) in insurance claims processing has experienced a rapid expansion in the last few years. The market is expected to swell from $0.39 billion in 2024 to $0.46 billion in 2025, with a compound annual growth rate (CAGR) of 16.8%. The historical growth has been catalyzed by an increased need for fraud detection, a surge in insurance claim volumes, advancements in machine learning algorithms, regulatory pressure towards digital transformation, and a growing inclination towards automation in the insurance sector.
In the foroming years, the market size of artificial intelligence (AI) in insurance claims processing is projected to witness substantial growth, expanding to a value of $0.85 billion in 2029 with a 16.6% compound annual growth rate (CAGR). This growth during the forecast period is linked to the increased unification of AI with blockchain, the escalating demand for instant claim processing, the rising usage of AI-enabled chatbots, the broadening application of predictive analytics for evaluating risks, and the growing preference for cloud-based AI solutions. Key market trends for the forecast period encompass claim automation empowered by AI, improved fraud detection utilizing deep learning, the application of natural language processing (NLP) for claim documentation, the growth of AI-driven self-service portals, and the increasing significance of AI in formulating personalized insurance policies.
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How Are Emerging Segments Shaping the Artificial Intelligence (AI) In Insurance Claims Processing Market Landscape?
The artificial intelligence (AI) in insurance claims processing market covered in this report is segmented -
1) By Offering: Software, Services
2) By Deployment Model: On-Premise, Cloud
3) By Technology: Machine Learning, Natural Language Processing, Computer Vision, Other Technologies
4) By Enterprise Size: Large Enterprises, Small And Medium-Sized Enterprises (SMEs)
5) By End-User: Life And Health Insurance, Property And Casualty Insurance
Subsegments:
1) By Software: AI-Based Underwriting Software, Fraud Detection Software, Claims Processing Software, Customer Engagement Platforms
2) By Services: Managed Services, Professional Services, Consulting Services, Support And Maintenance
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Which Growth Factors Are Influencing Artificial Intelligence (AI) In Insurance Claims Processing Market Expansion?
The growth of artificial intelligence (AI) within the insurance claims processing market is expected to be driven by the escalating need for personalised claims assistance. This encompasses AI-powered solutions that offer customised support, such as monitoring claims in real-time and automated advice to fit the requirements of policyholders. As policyholders expect speedier, more tailored assistance, interest in personalised claims support is increasing. Insurance providers are putting more emphasis on boosting customer experience through customised communication and services. AI advances personalised claims assistance by enabling expedited processing, precise assessments, proactive updates, and customised customer support via data-driven automation. For example, Higson, a Polish insurance tech firm, indicated in October 2024 that customisation in insurance contributes to a revenue lift of 10-15%, and up to a 20% increase in customer retention. Additionally, 95% of customers are willing to share data, and 88% are in search of customised services. Thus, the mounting demand for personalised claims assistance is stimulating the application of artificial intelligence (AI) in the insurance claims processing market.
Who Are the Dominant Players Across Different Artificial Intelligence (AI) In Insurance Claims Processing Market Segments?
Major companies operating in the artificial intelligence (AI) in insurance claims processing market are ICICI Lombard General Insurance Company Ltd, CCC Intelligent Solutions Inc., Quantiphi, Sapiens International, Blue Prism Limited, ScienceSoft USA Corporation, Harbinger Group, Newgen Software Technologies Limited, Vlink Inc., LeewayHertz, Astera Software, Damco Group, Ravin AI Ltd., ZestyAI, Tractable Ltd., Sprout.ai, CLARA Analytics Inc., V7 Ltd., Alula Technologies Ltd., Simplifai Systems Limited, Perceptiviti Data Solutions Private Limited.
What Are the Latest Developing Trends in the Artificial Intelligence (AI) In Insurance Claims Processing Market?
Top-tier businesses involved in the AI insurance claim processing sector are intensifying their dedication towards creating innovative solutions, such as agentic artificial intelligence automation, to elevate efficiency and enhance precision in claim evaluations. Agentic AI automation pertains to AI mechanisms that operate independently, possessing a certain level of discretion in decision-making, and are capable of executing tasks or initiating actions without perpetual human supervision. For example, in February 2025, a firm based in Norway named Simplifai, which specializes in AI solutions, unveiled their agentic artificial intelligence (AI) platform, a state-of-the-art automation system constructed to simplify the claims processing, underwriting, and customer service procedures. This AI-driven solution allows insurance companies to augment their operational efficiency, improve accuracy, and provide smooth customer interactions, while simultaneously shrinking claim resolution durations and lessening administrative burdens.
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Which Geographic Regions Are Expected to Dominate the Artificial Intelligence (AI) In Insurance Claims Processing Market in the Coming Years?
North America was the largest region in the artificial intelligence (AI) in insurance claims processing market in 2024. The regions covered in the artificial intelligence (AI) in insurance claims processing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Artificial Intelligence (AI) In Insurance Claims Processing Market?
2. What is the CAGR expected in the Artificial Intelligence (AI) In Insurance Claims Processing Market?
3. What Are the Key Innovations Transforming the Artificial Intelligence (AI) In Insurance Claims Processing Industry?
4. Which Region Is Leading the Artificial Intelligence (AI) In Insurance Claims Processing Market?
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