About Claims Management Software
Claims management software allows businesses to create and deploy automated end-to-end claims processes that are highly intelligent, agile, and ready to deliver ROI. Claims software should make it simple for businesses to create intelligent, dynamic business rules that fully capture company objectives and best practices, and then use those rules to drive automated processes that consistently apply the best thinking across organizations.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Companies in the market are concentrating on antivirus software and tools. North America region is the fastest-growing region in the healthcare sector due to the strong presence of insurance and healthcare companies Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Claims Management Software market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Celent (United States), Cegedim (France), TrustRadius (United States), DXC Technology Company (United States), Software AG (Germany), Hexaware Technologies, Inc. (India), HCL Technologies (India), Pegasystems Limited (United States), International Business Machines (IBM) Corporation (United States), Cognizant Technology Solutions Corporation (United States), FINEOS (Ireland), Logikcull (California) and Mitchell International (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Claims Management Software market by Type (App-based and Web-based) and Region.
On the basis of geography, the market of Claims Management Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End-Use Industries , the sub-segment i.e. Financial Services will boost the Claims Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Deployment, the sub-segment i.e. Cloud-based will boost the Claims Management Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increase insurance coverage among its citizens, etc.
Market Growth Drivers:
Increasing use of automated processes that consistently apply the best thinking across organizations, Increasing demand in the healthcare sector and Increased use of digital and cloud services, and initiatives to improve insurance claims services
Challenges:
Rise in cyber-attacks
Restraints:
Threats and cybercrimes
Opportunities:
Growing demand for smartphones and other mobile devices
August 19, 2021: DXC Technology and Mosaic Insurance launched an innovative new insurance technology platform that accelerates the sale, underwriting, and servicing of specialty insurance.
Key Target Audience
Research & Development, Healthcare Providers, Manufacturing Companies, Wholesaler, Retailer and Insurance Companies
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.