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Insurance Claims Processing Software - Industry Market Research Report

  • November 2016
  • -
  • Ibisworld
  • -
  • 30 pages

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Software upgrade: New business models and predictive analytics will boost industry revenue



Abstract

Insurance Claims Processing Software

Over five years to 2016, industry revenue is expected to increase. Claims processing software publishers are affected by the investment capabilities of property and casualty (P&C) and life insurance companies. The performance of P&C insurers is reliant on several factors, including growth in the number of motor vehicle registrations and the homeownership rate. Life insurance margins are affected by per capita disposable income levels, as households with rising wealth protect their assets, as well as the overall state of employment, as an increase in the number of workers stimulates demand for employer-sponsored group insurance. The next five years will bring fresh changes to the industry, including new business models and predictive analytics. Furthermore, companies will strive to make data more accessible and are expected to invest heavily in new security measures. The race to find an analytical tool that predicts the likelihood of individual claims to cause financial loss to insurance companies will stimulate industry growth; industry revenue is expected to grow in five years to 2021.

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.



Related Reports

Software Publishing in the US

Life Insurance & Annuities in the US

Health & Medical Insurance in the US

Property, Casualty and Direct Insurance in the US

Insurance Brokers & Agencies in the US

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