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The AI in insurance claims processing market is forecasted to grow by USD 1.39 billion 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.Speak directly to the analyst to clarify any post sales queries you may have.
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.
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.
The AI in insurance claims processing market is segmented as below:
By Component
- Software
- Services
By Deployment
- Cloud
- On premises
By Technology
- Machine learning
- Natural language processing
- Computer vision
- Others
By Geographical Landscape
- North America
- Europe
- APAC
- South America
- Middle East and Africa
The report on the AI in insurance claims processing market covers the following areas:
- AI In Insurance Claims Processing Market sizing
- AI In Insurance Claims Processing Market forecast
- AI In Insurance Claims Processing Market industry analysis
The report 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.
Table of Contents
1 Executive Summary
2 Market Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Five Forces Analysis
7 Market Segmentation by Component
8 Market Segmentation by Deployment
9 Market Segmentation by Technology
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
List of Exhibits
Executive Summary
The following companies are recognized as the key players in the global ai in insurance claims processing market: 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..Commenting on the report, an analyst from the research team said: "The latest trend gaining momentum in the market is proliferation of generative ai for enhanced decision making and customer experience."
According to the report, one of the major drivers for this market is the escalating demand for automation to enhance operational efficiency and reduce costs.
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 and vendor landscape in addition to a SWOT analysis of the key vendors.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- 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.
- Verisk Analytics Inc.
