How big is the claims management market | Growth & Trends 2031

Q: What is the current size of the claims management market?

The claims management market was valued at USD 42.8 billion in 2024 and is projected to reach USD 67.3 billion by 2031.

Q: What is the growth rate of the claims management market?

The claims management market is expected to grow at a CAGR of 6.7% from 2025 to 2031.

Q: Which applications contribute the most in the claims management market?

Health insurance, auto insurance, property and casualty insurance, workers’ compensation, and travel insurance.

Q: What is driving demand in the claims management market?

Digital transformation, rising insurance usage, need for faster settlements, and adoption of AI and cloud platforms.

Q: What challenges does the claims management market face?

Data privacy concerns, integration complexity, regulatory changes, and fraud risk management.

Q: How does 6W market outlook report help businesses in making decisions?

6W monitors the market across 60+ countries Globally, publishing an annual market outlook report that analyses trends, key drivers, Size, Volume, Revenue, opportunities, and market segments. This report offers comprehensive insights, helping businesses understand market dynamics and make informed decisions.

Q: Do you also provide customisation in the market study?

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Code: MTA5160

Publication Date: Jul 2025

How big is the Claims Management Market?

According to 6Wresearch internal database and industry insights, the claims management market was valued at approximately USD 42.8 billion in 2024 and is projected to reach USD 67.3 billion by 2031, growing at a CAGR of 6.7%.

This growth is driven by increasing health and auto insurance claims, rising digitization in insurance services, and demand for faster, transparent settlement processes.

Key Growth Drivers of the Claims Management Market

Surge in health, auto, and property insurance claims globally
Rising demand for automated and paperless claim processing solutions
Growth in insurance fraud detection systems and AI-based claim analytics
Expanding use of SaaS platforms and mobile apps in insurance workflows
Regulatory compliance and need for real-time policyholder communication

Claims Management Market Trends

The claims management market is witnessing a rapid shift toward cloud-based platforms, enabling insurers to streamline operations and improve user experience. AI and machine learning tools are being used for fraud detection, document verification, and predictive analytics. Self-service portals and chatbot-based assistance are becoming common. Insurtech startups are partnering with legacy insurers to accelerate digital transformation. North America leads in tech adoption, while Asia-Pacific shows strong growth potential with rising insurance penetration.

Emerging Developments in the Claims Management Market

Recently, they have added blockchain to achieve secure validation of claims and automation of the entire claim processes. The investment in API-based architecture to improve the connectivity amid insurers, TPAs, and third-party systems is rising. AI- and video-based virtual damage inspections and big-data- and behavior-based personal pre-existing claims servicing are also in pilot. Using big data and behavioral analytics is revising the customer experience throughout the insurance value chain.