Worldwide, there has been a massive surge in demand for robust and effective claims processing and management in the last couple of years. The global claims processing software market was worth $33.9 billion in 2020 and is expected to be worth $73.0 billion by 2030, growing at an 8.3-percent CAGR between 2021 and 2030.
This market growth can be attributed to the COVID-19 pandemic, which had a major detrimental impact on the overall economy and public health. This led to a significant increase in consumer claims settlement cases for managing business losses and claiming their health insurance policies. As a result, claims handling organizations are seeking solutions to better manage the huge volume of claims and fast-track claim settlements.
This edition of Insurance CIO Outlook shines light on the key developments in the claims processing and management space and how claims settlement organizations are leveraging the latest tech solutions and services to streamline their operations. It features thought leadership articles from Blanca Diaz, Vice President Claims at Risk Strategies Company and Andrew Leeds, Vice President of Claims at Plymouth Rock Assurance. Coming from diverse claims handling backgrounds, they speak about their experiences with managing the financing and reimbursement of insurance claims for gene therapy treatments, and giving a fresh outlook to the homeowners' insurance claims settlement process with technology for conducting virtual inspections, augmented reality measurements, and RPA-powered faster loss calculation that promises to transform real estate claims resolution.
Along with that, the edition features CCC Intelligent Solutions, a provider of cloud-based SaaS solutions and a connected data platform that leverages the latest in AI, IoT, telematics, and digital workflow technologies to create actionable insights that have the power to transform the automotive insurance industry.
In this edition featuring top claims processing and management solution providers and service companies, we hope you find the appropriate company to enhance and optimize your claims handling requirements.
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