Press release
Global Claims Processing Software Market Driven by AI Automation Cloud Integration and Rising Demand for Faster Insurance Settlements with Market Size Projected to Reach USD 66.38 Billion by 2030

The global Claims Processing Software market was valued at more than USD 41.05 Billion in 2024, growing with 8.52% CAGR by 2025-30
Technological advancements are reshaping the global claims processing software market, with artificial intelligence (AI), machine learning (ML), and robotic process automation (RPA) at the forefront of innovation. AI-powered tools now automate claim triaging, fraud detection, and decision-making processes, significantly reducing manual errors and processing time. Natural language processing (NLP) is increasingly used for analyzing unstructured data from claims forms, voice calls, and social media inputs. Cloud-native deployment has become the default model, enabling real-time scalability lower IT overhead, and improved data security. A shift toward low-code/no-code development is allowing insurers to customize workflows without heavy developer involvement. From a value chain perspective, the ecosystem comprises software vendors, system integrators, third-party administrators (TPAs), reinsurers, and regulatory bodies. Vendors like Guidewire, Oracle, Pegasystems, and startups such as ClaimVantage and Bdeo are expanding APIs and microservices architecture to support interoperability with core insurance platforms, payment gateways, and data providers. Integration with telematics, wearable health tech, and geospatial data is adding contextual intelligence to claim assessments. Moreover, partnerships between InsurTech firms and traditional insurers are shortening innovation cycles. As regulatory compliance becomes stricter, governance and audit trail functionalities are being embedded into core systems. The value chain is transitioning from linear to platform-based models that support ecosystem orchestration, data monetization, and customer-centric innovation.
For more insights: https://www.bonafideresearch.com/product/250249261/global-claims-processing-software-market.
The global claims processing software market exhibits distinct regional dynamics shaped by insurance penetration, digital infrastructure, regulatory environments, and legacy system modernization efforts. North America dominates the market in both value and technological advancement, led by the U.S. where high insurance density, complex multi-line policies, and demand for automation in health and auto claims fuel software adoption. Regulatory compliance pressures, such as HIPAA and NAIC data governance, further accelerate investment in secure, AI-enhanced claims platforms. Europe represents a mature and compliance-heavy market, with GDPR driving adoption of data privacy-centric claims systems. Countries like the UK, Germany, and France are leading adopters of end-to-end cloud-based and AI-integrated solutions, though implementation cycles tend to be slower due to public-private payer systems and legacy system complexity. Asia-Pacific is emerging as the fastest-growing region, driven by rapid digitization in insurance markets across India, China, and Southeast Asia. Growing middle-class insurance coverage, low baseline automation, and digital-first insurers are creating fertile ground for cloud-native and mobile-friendly claims platforms. Meanwhile, Latin America is exhibiting steady growth, especially in Brazil and Mexico, where insurtech growth and the modernization of public health claim systems are key trends. However, adoption remains somewhat constrained by limited budgets and fragmented regulatory standards. In Middle East and Africa, growth is nascent but promising driven by health insurance mandates, mobile-based microinsurance models, and interest from Gulf-based insurance players in automation and fraud detection tools. Regional growth through 2030 will be shaped by cloud readiness, insurance sector reforms, and strategic localization by global software vendors.
For more insights: https://www.bonafideresearch.com/product/250249262/north-america-claims-processing-software-market
The global claims processing software market is bifurcated into software and services, with software accounting for the dominant revenue share. Claims processing software encompasses core systems designed to automate the end-to-end lifecycle from first notice of loss (FNOL) and documentation to adjudication, fraud detection, and settlement. Modern platforms are increasingly cloud-native, API-enabled, and equipped with AI/ML capabilities, allowing insurers to process high claim volumes with reduced human intervention. Software solutions are also evolving toward modular, plug-and-play architectures that can be integrated with underwriting, policy management, CRM, and payment systems. On the other hand, the services segment including implementation, system integration, training, consulting, and support plays a crucial role in ensuring successful software deployment and optimization. As insurers modernize legacy infrastructure, demand for migration services and third-party managed services has surged. Professional services are particularly essential in highly regulated sectors such as health and workers' compensation insurance, where accurate configuration is vital. Moreover, ongoing technical support and compliance updates are critical in keeping platforms secure and audit-ready. While software generates recurring revenue through licensing and subscriptions, services ensure long-term customer retention and successful digital transformation. Together, both components form an interdependent structure driving operational efficiency and competitive advantage for insurers.
For more insights: https://www.bonafideresearch.com/product/250249263/europe-claims-processing-software-market
In terms of enterprise size, large enterprises have traditionally driven the demand for claims processing software due to their complex claim volumes, legacy modernization needs, and compliance requirements. These organizations typically invest in full-suite platforms with AI-powered adjudication, fraud analytics, and multi-line support spanning health, life, property, and casualty insurance. Their focus lies in scalable, customizable systems that can integrate seamlessly with policy, billing, and CRM systems. In contrast, small and medium-sized enterprises (SMEs) are increasingly adopting cloud-based, SaaS-driven claims solutions due to their affordability, ease of deployment, and minimal infrastructure requirements. SMEs, particularly in emerging markets and niche lines like pet or microinsurance, are opting for modular platforms that can handle core claim functionalities with built-in automation and third-party API support. By end user, insurance companies represent the largest share, driven by the need to digitize operations, improve customer satisfaction, and reduce claims leakage. These firms are investing in claims software to enhance adjudication accuracy, enable real-time tracking, and comply with global regulatory standards. Meanwhile, insurance intermediaries such as brokers, third-party administrators (TPAs), and MGAs are also adopting claims platforms to streamline workflows, manage customer interactions, and offer value-added services. Their role in claims intake, assessment coordination, and client advocacy is pushing demand for collaborative and cloud-accessible claims tools tailored to intermediary functions.
For more insights: https://www.bonafideresearch.com/product/6502492625/russia-claim-processing-market
Considered in this report
• Historic year: 2018
• Base year: 2023
• Estimated year: 2024
• Forecast year: 2029
Aspects covered in this report
• Global Claims Processing Software Market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation
Regions & Countries covered in the report:
• Asia-Pacific: (South Korea, China, India, Japan)
• North America: (United States, Canada)
• Europe: (Germany, France, United Kingdom, Italy)
• South America: (Brazil, Argentina)
• Middle East & Africa: (UAE, South Africa, Saudi Arabia)
For more insights: https://www.bonafideresearch.com/product/6502492625/russia-claim-processing-market
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
Contact Us:
Steven Thomas - Sales & Marketing Manager
E-mail: sales@bonafideresearch.com
Asia-Pacific: +91 7878231309
Europe: +44 20 8089 0049
North America: +1 201 793 8545
https://www.bonafideresearch.com/
Bonafide Research is the fastest-growing global market research and consulting company, providing syndicated research reports, customized research reports, and consulting services to a range of verticals. Bonafide Research stands out as a contemporary market research company, renowned for its unparalleled resilience and integrated approach. With an extensive database of more than 32000 reports from 60 countries and expertise across 11 diverse industry domains and even assist the companies in spectrum of services, including designing their market assessment, market entry strategies, and consumer behavior analysis etc. Since last 10 years, we have served close to 1000+ clients and it includes fortune 500 companies across the globe. Bonafide has continuously made efforts to evolve and enhance the report quality with each passing day. Bonafide Research has a strong base of analysts and consultants from assorted areas of expertise who track the latest economic, demographic, trade, and market data globally and help clients make informed business decisions. They periodically update their market research studies to ensure that their clients get the most recent, relevant, actionable, and valuable information for strategy development and to extract tangible results.
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