Insurance claims market grows to $519.21b by 2032

This equates to a CAGR of 12.9%.

The global insurance claims market was valued at $187.9b in 2023 and is projected to grow from $196.69b in 2024 to $519.21b by 2032, reflecting a compound annual growth rate of about 12.9%, according to Market Research Future.

Growth is being driven by rising insurance penetration, higher claim settlements, and the use of digital technologies to streamline claims processing.

Technologies such as AI, machine learning, blockchain, and automation are improving efficiency, reducing fraud, and speeding up settlements. 

Increasing natural disaster losses and health-related claims, particularly after the pandemic, are also contributing to higher volumes.

Regulatory efforts to improve transparency and settlement timelines are further supporting market expansion.