What Is Driving Global Artificial Intelligence (AI) In Insurance Claims Processing Market Growth in 2025: The Role of Rising Demand for Personalized Claims Assistance Fueling Market Growth Due To AI-Driven Customer Support

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Artificial Intelligence (AI) In Insurance Claims Processing Market Size Growth Forecast: What to Expect by 2025?
In recent times, the market size for artificial intelligence (AI) in processing insurance claims has seen a significant increase. The market which was worth $0.39 billion in 2024 is expected to surge to $0.46 billion in 2025, reflecting a compound annual growth rate (CAGR) of 15.9%. Factors that have contributed to this growth in the historic period include the escalating need for fraud detection, an increase in insurance claim volumes, developments in machine learning algorithms, the regulatory emphasis on digital transformation, and the rising adoption of automation in insurance.

How Will the Artificial Intelligence (AI) In Insurance Claims Processing Market Size Evolve and Grow by 2029?
In the upcoming years, the market size for artificial intelligence (AI) in insurance claims processing is anticipated to experience swift expansion. By 2029, it is projected to reach $0.84 billion, with a compound annual growth rate (CAGR) of 16.3%. The growth over this forecast period can be credited to factors such as the increasing assimilation of AI with blockchain, the escalating demand for instantaneous claim processing, and the widening utilization of AI-enabled chatbots. Other contributing elements include the proliferation of predictive analytics for gauging risks, and the rising adoption of AI solutions based on the cloud. The forecast period will also witness several significant trends, from AI-induced claims automation and improved fraud detection through deep learning to the application of natural language processing (NLP) in documenting claims. Further advancements include the enlargement of self-service portals driven by AI and the expanded role of AI in the customization of policy recommendations.

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What Drivers Are Propelling the Growth of Artificial Intelligence (AI) In Insurance Claims Processing Market Forward?
The burgeoning need for custom-made claims support is anticipated to bolster the artificial intelligence (AI) expansion in the insurance claims processing sector. Personalized claims assistance involves AI-powered solutions offering customized aid, instantaneous claim tracking, and automated proposals designed to meet the policyholder's requirements. As policyholders hope for swifter and more personalized aid, the demand for such assistance is mounting. To improve customer experience, insurance firms are progressively focusing on tailored communication and service. AI heightens personalized claims support by quickening the processing time, making precise assessments, giving proactive updates, and providing personalized customer service through data-powered automation. As an instance, Higson, a Poland-based insurance tech firm, stated in October 2024 that personalization in insurance results in a revenue surge of 10-15% and up to 20% increased customer retention, with 95% of patrons ready to share data and 88% seeking tailored services. Hence, the escalating requirement for personalized claims support is driving the adoption of AI in the insurance claims processing market.

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Which Emerging Trends Are Transforming the Artificial Intelligence (AI) In Insurance Claims Processing Market in 2025?
Leading firms in the AI insurance claims processing market are honing their focus on innovating novel solutions, like agentic artificial intelligence automation, to elevate efficiency and improve precision in claims evaluation. The term "agentic artificial intelligence automation" is used to describe AI systems that function autonomously with some level of decision-making ability, executing tasks or triggering actions without continuous human supervision. For example, Simplifai, an AI solutions firm based in Norway, launched an innovative automation platform termed agentic artificial intelligence (AI) in February 2025. It is designed to simplify the process of claims, underwriting, and customer service. This AI-driven solution enables insurers to improve operational efficiency, strengthen accuracy, and provide smooth customer experiences, all while cutting down claim settlement periods and reducing administrative workloads.

What Are the Key Segments in the Artificial Intelligence (AI) In Insurance Claims Processing Market?
The artificial intelligence (ai) in insurance claims processingmarket 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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Who Are the Key Players Shaping the Artificial Intelligence (AI) In Insurance Claims Processing Market's Competitive Landscape?
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 Geographic Markets Are Powering Growth in the Artificial Intelligence (AI) In Insurance Claims Processing Market?
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.

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