Smart Innovators: Claims Management Software (CMS)
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Executive Summary
This report provides a detailed analysis of the claims management software (CMS) market, spotlighting 10 solutions from providers with comprehensive capabilities tailored to various firm sizes, industries and maturity levels. It offers buyers a high-level evaluation of the providers and their offerings, helping executives compare their strengths across four critical capabilities: claims intake and registration; claims processing; claims data analytics and reporting; and fraud detection. Notable differentiators amongst solution providers are incident-based approaches to claims processing, no-touch claims processing, and various deployments of AI. Insights from our research highlight key challenges to claims management service delivery and explore the trends that are shaping the innovation of CMS solutions, offering a tool to organizations looking to navigate this rapidly evolving technology space.Modernization is sweeping across the claims management industry
Firms are adopting CMS to enhance their product offerings and brand positioning
Introducing the CMS market
CMS solution providers have varied heritages
CMS solution providers deliver four core capabilities
Digital transformation drives innovation in CMS
Figure 2. Background information on vendors included in the CMS report
Figure 3. CMS assessment criteria
Figure 4. CMS solution providers: capabilities assessment
About the Authors
Elizabeth Babalola
Senior Analyst
Elizabeth is a Senior Analyst at Verdantix, where she delivers in-depth research to support corporate executives in strengthening operational resilience, optimizing insurance ...
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Katelyn Johnson
Senior Manager
Katelyn is a Senior Manager at Verdantix, specializing in enterprise risk management and external risk and resilience. She helps executives navigate today’s evolving ris...
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