The Latin America, Middle East and Africa Claims Processing Software Market would witness market growth of 10.9% CAGR during the forecast period (2022-2028).
Accuracy, timeliness, and cost-efficiency are the three major goals that are supposed to be achieved by a claim processing software. If any of these objectives are not accomplished, it can cause problems for all parties involved. In the past, insurers have struggled to meet these objectives. To manage claims, the industry as a whole has been trapped in the 1970s, using old systems, rules, and practices. With the increasing competition across the market, various manufacturers are increasing their efforts to create a more efficient claims processing system that incorporates cutting-edge technologies, streamlined procedures, and sophisticated automation.
This region is also witnessing a considerable prevalence of chronic diseases. According to the National Library of Medicine, infectious and chronic diseases afflict Africa in equal measure. While contagious diseases still account for nearly 69% of the region, chronic disease mortality rates are greater in Sub-Saharan Africa than in any other region, among both women and men. The region is anticipated to see significant growth in death rates from cancer, cardiovascular disease, respiratory disease, and diabetes over the next ten years.
Infectious and parasitic diseases continue to be prioritized in national spending on healthcare training as well as service delivery in Africa. There is widespread agreement that chronic disease research, treatment, and policy in Africa face major hurdles. Due to the increasing number of deadly diseases and disorders in the region, the regional insurance sector is estimated to significantly expand.
The Brazil market dominated the LAMEA Claims Processing Software Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $885.5 Million by 2028. The Argentina market is estimated to grow at a CAGR of 11.5% during (2022 - 2028). Additionally, The UAE market would witness a CAGR of 10.6% during (2022 - 2028).
Based on Component, the market is segmented into Software (Without Services) and Services. Based on Enterprise Size, the market is segmented into Large Enterprises and Small & Medium-sized Enterprises. Based on End User, the market is segmented into Insurance Companies, Insurance Intermediaries, Agents & Brokers, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Claims Processing Software Market is Predict to reach $59 Billion by 2028, at a CAGR of 8.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Duck Creek Technologies, Inc., FINEOS Corporation Holdings plc, Hyland Software, Inc., Hawksoft, Inc., HIPAAsuite, Newgen Software Technologies Limited, Pegasystems, Inc., Quick Silver Systems, Inc., Ventiv Technology, and A1 Enterprise, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Component
- Software (Without Services)
- Services
By Enterprise Size
- Large Enterprises
- Small & Medium-sized Enterprises
By End User
- Insurance Companies
- Insurance Intermediaries
- Agents & Brokers
- Others
By Country
- Brazil
- Argentina
- UAE
- Saudi Arabia
- South Africa
- Nigeria
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Duck Creek Technologies, Inc.
- FINEOS Corporation Holdings plc
- Hyland Software, Inc.
- Hawksoft, Inc.
- HIPAAsuite
- Newgen Software Technologies Limited
- Pegasystems, Inc.
- Quick Silver Systems, Inc.
- Ventiv Technology
- A1 Enterprise, Inc.
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 LAMEA Claims Processing Software Market, by Component
1.4.2 LAMEA Claims Processing Software Market, by Enterprise Size
1.4.3 LAMEA Claims Processing Software Market, by End User
1.4.4 LAMEA Claims Processing Software Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition and scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 Recent Industry Wide Strategic Developments
3.1.1 Partnerships, Collaborations and Agreements
3.1.2 Product Launches and Product Expansions
3.1.3 Acquisition and Mergers
3.2 Top Winning Strategies
3.2.1 Key Leading Strategies: Percentage Distribution (2018-2022)
3.2.2 Key Strategic Move: (Partnerships, Collaborations and Agreements : 2018, Nov – 2022, May) Leading Players
Chapter 4. LAMEA Claims Processing Software Market by Component
4.1 LAMEA Software (Without Services) Market by Country
4.2 LAMEA Services Market by Country
Chapter 5. LAMEA Claims Processing Software Market by Enterprise Size
5.1 LAMEA Large Enterprises Market by Country
5.2 LAMEA Small & Medium-sized Enterprises Market by Country
Chapter 6. LAMEA Claims Processing Software Market by End User
6.1 LAMEA Insurance Companies Market by Country
6.2 LAMEA Insurance Intermediaries Market by Country
6.3 LAMEA Agents & Brokers Market by Country
6.4 LAMEA Others Market by Country
Chapter 7. LAMEA Claims Processing Software Market by Country
7.1 Brazil Claims Processing Software Market
7.1.1 Brazil Claims Processing Software Market by Component
7.1.2 Brazil Claims Processing Software Market by Enterprise Size
7.1.3 Brazil Claims Processing Software Market by End User
7.2 Argentina Claims Processing Software Market
7.2.1 Argentina Claims Processing Software Market by Component
7.2.2 Argentina Claims Processing Software Market by Enterprise Size
7.2.3 Argentina Claims Processing Software Market by End User
7.3 UAE Claims Processing Software Market
7.3.1 UAE Claims Processing Software Market by Component
7.3.2 UAE Claims Processing Software Market by Enterprise Size
7.3.3 UAE Claims Processing Software Market by End User
7.4 Saudi Arabia Claims Processing Software Market
7.4.1 Saudi Arabia Claims Processing Software Market by Component
7.4.2 Saudi Arabia Claims Processing Software Market by Enterprise Size
7.4.3 Saudi Arabia Claims Processing Software Market by End User
7.5 South Africa Claims Processing Software Market
7.5.1 South Africa Claims Processing Software Market by Component
7.5.2 South Africa Claims Processing Software Market by Enterprise Size
7.5.3 South Africa Claims Processing Software Market by End User
7.6 Nigeria Claims Processing Software Market
7.6.1 Nigeria Claims Processing Software Market by Component
7.6.2 Nigeria Claims Processing Software Market by Enterprise Size
7.6.3 Nigeria Claims Processing Software Market by End User
7.7 Rest of LAMEA Claims Processing Software Market
7.7.1 Rest of LAMEA Claims Processing Software Market by Component
7.7.2 Rest of LAMEA Claims Processing Software Market by Enterprise Size
7.7.3 Rest of LAMEA Claims Processing Software Market by End User
Chapter 8. Company Profiles
8.1 Pegasystems, Inc.
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Regional Analysis
8.1.4 Research & Development Expense
8.1.1 Recent strategies and developments:
8.1.1.1 Partnerships, Collaborations, and Agreements:
8.1.1.2 Product Launches and Product Expansions:
8.1.1.3 Acquisition and Mergers:
8.1.2 SWOT Analysis
8.2 Duck Creek Technologies, Inc.
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Regional Analysis
8.2.4 Research & Development Expenses
8.2.5 Recent strategies and developments:
8.2.5.1 Partnerships, Collaborations, and Agreements:
8.2.5.2 Product Launches and Product Expansions:
8.3 FINEOS Corporation Holdings plc (Jacquel Investments Limited)
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Research & Development Expenses
8.3.4 Recent strategies and developments:
8.3.4.1 Partnerships, Collaborations, and Agreements:
8.3.4.2 Product Launches and Product Expansions:
8.3.4.3 Acquisition and Mergers:
8.4 Newgen Software Technologies Limited
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expense
8.4.5 Recent strategies and developments:
8.4.5.1 Partnerships, Collaborations, and Agreements:
8.4.5.2 Product Launches and Product Expansions:
8.4.5.3 Acquisition and Mergers:
8.5 Hawksoft, Inc.
8.5.1 Company Overview
8.5.2 Recent strategies and developments:
8.5.2.1 Partnerships, Collaborations, and Agreements:
8.6 HIPAAsuite
8.6.1 Company Overview
8.7 Quick Silver Systems, Inc.
8.7.1 Company Overview
8.7.2 Recent strategies and developments:
8.7.2.1 Partnerships, Collaborations, and Agreements:
8.8 Ventiv Technology, Inc.
8.8.1 Company Overview
8.8.2 Recent strategies and developments:
8.8.2.1 Partnerships, Collaborations, and Agreements:
8.8.2.2 Acquisition and Mergers:
8.9 A1 Enterprise, Inc.
8.9.1 Company Overview
8.10. Hyland Software, Inc.
8.10.1 Company Overview
8.10.2 Recent strategies and developments:
8.10.2.1 Partnerships, Collaborations, and Agreements:
TABLE 1 LAMEA Claims Processing Software Market, 2018 - 2021, USD Million
TABLE 2 LAMEA Claims Processing Software Market, 2022 - 2028, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Claims Processing Software Market
TABLE 4 Product Launches And Product Expansions– Claims Processing Software Market
TABLE 5 Acquisition and Mergers– Claims Processing Software Market
TABLE 6 LAMEA Claims Processing Software Market by Component, 2018 - 2021, USD Million
TABLE 7 LAMEA Claims Processing Software Market by Component, 2022 - 2028, USD Million
TABLE 8 LAMEA Software (Without Services) Market by Country, 2018 - 2021, USD Million
TABLE 9 LAMEA Software (Without Services) Market by Country, 2022 - 2028, USD Million
TABLE 10 LAMEA Services Market by Country, 2018 - 2021, USD Million
TABLE 11 LAMEA Services Market by Country, 2022 - 2028, USD Million
TABLE 12 LAMEA Claims Processing Software Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 13 LAMEA Claims Processing Software Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 14 LAMEA Large Enterprises Market by Country, 2018 - 2021, USD Million
TABLE 15 LAMEA Large Enterprises Market by Country, 2022 - 2028, USD Million
TABLE 16 LAMEA Small & Medium-sized Enterprises Market by Country, 2018 - 2021, USD Million
TABLE 17 LAMEA Small & Medium-sized Enterprises Market by Country, 2022 - 2028, USD Million
TABLE 18 LAMEA Claims Processing Software Market by End User, 2018 - 2021, USD Million
TABLE 19 LAMEA Claims Processing Software Market by End User, 2022 - 2028, USD Million
TABLE 20 LAMEA Insurance Companies Market by Country, 2018 - 2021, USD Million
TABLE 21 LAMEA Insurance Companies Market by Country, 2022 - 2028, USD Million
TABLE 22 LAMEA Insurance Intermediaries Market by Country, 2018 - 2021, USD Million
TABLE 23 LAMEA Insurance Intermediaries Market by Country, 2022 - 2028, USD Million
TABLE 24 LAMEA Agents & Brokers Market by Country, 2018 - 2021, USD Million
TABLE 25 LAMEA Agents & Brokers Market by Country, 2022 - 2028, USD Million
TABLE 26 LAMEA Others Market by Country, 2018 - 2021, USD Million
TABLE 27 LAMEA Others Market by Country, 2022 - 2028, USD Million
TABLE 28 LAMEA Claims Processing Software Market by Country, 2018 - 2021, USD Million
TABLE 29 LAMEA Claims Processing Software Market by Country, 2022 - 2028, USD Million
TABLE 30 Brazil Claims Processing Software Market, 2018 - 2021, USD Million
TABLE 31 Brazil Claims Processing Software Market, 2022 - 2028, USD Million
TABLE 32 Brazil Claims Processing Software Market by Component, 2018 - 2021, USD Million
TABLE 33 Brazil Claims Processing Software Market by Component, 2022 - 2028, USD Million
TABLE 34 Brazil Claims Processing Software Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 35 Brazil Claims Processing Software Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 36 Brazil Claims Processing Software Market by End User, 2018 - 2021, USD Million
TABLE 37 Brazil Claims Processing Software Market by End User, 2022 - 2028, USD Million
TABLE 38 Argentina Claims Processing Software Market, 2018 - 2021, USD Million
TABLE 39 Argentina Claims Processing Software Market, 2022 - 2028, USD Million
TABLE 40 Argentina Claims Processing Software Market by Component, 2018 - 2021, USD Million
TABLE 41 Argentina Claims Processing Software Market by Component, 2022 - 2028, USD Million
TABLE 42 Argentina Claims Processing Software Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 43 Argentina Claims Processing Software Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 44 Argentina Claims Processing Software Market by End User, 2018 - 2021, USD Million
TABLE 45 Argentina Claims Processing Software Market by End User, 2022 - 2028, USD Million
TABLE 46 UAE Claims Processing Software Market, 2018 - 2021, USD Million
TABLE 47 UAE Claims Processing Software Market, 2022 - 2028, USD Million
TABLE 48 UAE Claims Processing Software Market by Component, 2018 - 2021, USD Million
TABLE 49 UAE Claims Processing Software Market by Component, 2022 - 2028, USD Million
TABLE 50 UAE Claims Processing Software Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 51 UAE Claims Processing Software Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 52 UAE Claims Processing Software Market by End User, 2018 - 2021, USD Million
TABLE 53 UAE Claims Processing Software Market by End User, 2022 - 2028, USD Million
TABLE 54 Saudi Arabia Claims Processing Software Market, 2018 - 2021, USD Million
TABLE 55 Saudi Arabia Claims Processing Software Market, 2022 - 2028, USD Million
TABLE 56 Saudi Arabia Claims Processing Software Market by Component, 2018 - 2021, USD Million
TABLE 57 Saudi Arabia Claims Processing Software Market by Component, 2022 - 2028, USD Million
TABLE 58 Saudi Arabia Claims Processing Software Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 59 Saudi Arabia Claims Processing Software Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 60 Saudi Arabia Claims Processing Software Market by End User, 2018 - 2021, USD Million
TABLE 61 Saudi Arabia Claims Processing Software Market by End User, 2022 - 2028, USD Million
TABLE 62 South Africa Claims Processing Software Market, 2018 - 2021, USD Million
TABLE 63 South Africa Claims Processing Software Market, 2022 - 2028, USD Million
TABLE 64 South Africa Claims Processing Software Market by Component, 2018 - 2021, USD Million
TABLE 65 South Africa Claims Processing Software Market by Component, 2022 - 2028, USD Million
TABLE 66 South Africa Claims Processing Software Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 67 South Africa Claims Processing Software Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 68 South Africa Claims Processing Software Market by End User, 2018 - 2021, USD Million
TABLE 69 South Africa Claims Processing Software Market by End User, 2022 - 2028, USD Million
TABLE 70 Nigeria Claims Processing Software Market, 2018 - 2021, USD Million
TABLE 71 Nigeria Claims Processing Software Market, 2022 - 2028, USD Million
TABLE 72 Nigeria Claims Processing Software Market by Component, 2018 - 2021, USD Million
TABLE 73 Nigeria Claims Processing Software Market by Component, 2022 - 2028, USD Million
TABLE 74 Nigeria Claims Processing Software Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 75 Nigeria Claims Processing Software Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 76 Nigeria Claims Processing Software Market by End User, 2018 - 2021, USD Million
TABLE 77 Nigeria Claims Processing Software Market by End User, 2022 - 2028, USD Million
TABLE 78 Rest of LAMEA Claims Processing Software Market, 2018 - 2021, USD Million
TABLE 79 Rest of LAMEA Claims Processing Software Market, 2022 - 2028, USD Million
TABLE 80 Rest of LAMEA Claims Processing Software Market by Component, 2018 - 2021, USD Million
TABLE 81 Rest of LAMEA Claims Processing Software Market by Component, 2022 - 2028, USD Million
TABLE 82 Rest of LAMEA Claims Processing Software Market by Enterprise Size, 2018 - 2021, USD Million
TABLE 83 Rest of LAMEA Claims Processing Software Market by Enterprise Size, 2022 - 2028, USD Million
TABLE 84 Rest of LAMEA Claims Processing Software Market by End User, 2018 - 2021, USD Million
TABLE 85 Rest of LAMEA Claims Processing Software Market by End User, 2022 - 2028, USD Million
TABLE 86 Key Information – Pegasystems, Inc.
TABLE 87 Key Information – Duck Creek Technologies, Inc.
TABLE 88 Key Information – FINEOS Corporation Holdings plc
TABLE 89 key information – Newgen Software Technologies Limited
TABLE 90 Key Information – HawkSoft, Inc.
TABLE 91 Key Information – HIPAAsuite
TABLE 92 Key Information – Quick Silver Systems, Inc.
TABLE 93 Key Information – Ventiv Technology, Inc.
TABLE 94 Key Information – A1 Enterprise, Inc.
TABLE 95 Key Information – Hyland Software, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 Key Leading Strategies: Percentage Distribution (2018-2022)
FIG 3 Key Strategic Move: (Partnerships, Collaborations and Agreements : 2018, Nov – 2022, May) Leading Players
FIG 4 Recent strategies and developments: Pegasystems, Inc.
FIG 5 SWOT Analysis: Pegasystems, Inc.
FIG 6 Recent strategies and developments: Duck Creek Technologies, Inc.
FIG 7 Recent strategies and developments: FINEOS Corporation Holdings plc
FIG 8 Recent strategies and developments: Newgen Software Technologies Limited