In 2021, the global claims processing software market was estimated at $36.3 billion. Its value is expected to grow steadily through 2030, with a growth rate of 8.4% .
It is therefore a rapidly growing market, where digital tools fax list are used to perform numerous functions: from managing and evaluating insurance claims to collecting data, authorizing and tracking payments, creating, managing, distributing and monitoring communications. The growth is due to the transition from manual processing systems to automation based on artificial intelligence, which allows to minimize operational inefficiencies and legacy problems, cut maintenance and training costs and improve the customer experience.
Never underestimate customer experience
The integration of cutting-edge technologies such as artificial intelligence (AI), data analysis, the Internet of Things (IoT), digital platforms, mobile apps, advanced image and video analysis tools, and digital communication tools is redefining the way insurance claims are handled. All these innovations not only make the process more efficient, accurate, cost-effective and flexible, but they also offer insurers a new, entirely customer-centric perspective from which to evaluate, process and settle claims without ever underestimating the importance of the customer experience.