Insurance Claims Processing Software
The Insurance Claims Processing Software industry has transformed insurance claims handling, previously a labor-intensive process, over the past decade. Industry operators market their products, which are used to process insurance claims and manage policies, primarily to the Property, Casualty and Direct Insurance industry (IBISWorld report 52412) and the Life Insurance and Annuities industry (52411a). Property and casualty insurers and life insurers seek to differentiate themselves in their competitive environments by using industry products, which are designed to streamline operations, reduce process complexity and costs, manage compliance with new regulations and increase customer satisfaction. The next five years will bring fresh changes to the industry, including new business models and predictive analytics. Software publishers are expected to continue rapidly shifting toward cloud computing, a technology that will expand software capabilities on platforms previously limited by hardware. Furthermore, companies will strive to make data more accessible and are expected to invest heavily in new security measures.
This industry develops and sells software that is used to process insurance claims and manage policies.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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