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IBISWorld Industry Market Research: The U.S. Insurance Claims Processing Software Industry is Expected to Earn Revenue of $8.2 billion in 2016NEW YORK, Dec. 5, 2016 /PRNewswire/ -- Industry operators market their products, which are used to process insurance claims and manage policies, primarily to the Property, Casualty and Direct Insurance industry and the Life Insurance and Annuities industry. Property and casualty (P&C) insurers and life insurers seek to differentiate themselves in their competitive environments with these products, designed to streamline operations, reduce process complexity and costs, manage compliance with new regulations and increase customer satisfaction. Over five years to 2016, industry revenue is expected to increase at an annualized rate of 0.4%, to reach $8.2 billion.  For the full report, visit IBISWorld's Insurance Claims Processing Software in the U.S. industry report page. The next five years will bring fresh changes to the industry, including new business models and predictive analytics. Software publishers are expected to continue shifting toward cloud computing, a technology that will expand software capabilities on platfoms previously limited by hardware. Furthermore, companies will strive to make data more accessible and are expected to invest heavily in new security measures. According to IBISWorld Industry Analyst Jack Curran, "The shift will likely accelerate the adoption of new business models, such as software as a service." 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. As a result, industry revenue is expected to grow over the five years to 2021. Downstream industries impacted: Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld IBISWorld Industry Report Key Topics Industry Performance About IBISWorld Inc. Recognized as the nation's most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every U.S. industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. For more information, visit www.ibisworld.com or call 1-800-330-3772. Contact Information Logo - http://photos.prnewswire.com/prnh/20161108/437083LOGO
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/ibisworld-industry-market-research-the-us-insurance-claims-processing-software-industry-is-expected-to-earn-revenue-of-82-billion-in-2016-300372791.html SOURCE IBISWorld 
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