Smart Innovators: Claims Management Software (CMS)

Report
Insurance Solutions
Elizabeth Babalola
Elizabeth Babalola
Katelyn Johnson
Katelyn Johnson
25 Jun, 2025

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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.
Summary for decision-makers
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 1. Over the next two years, 49% of firms will increase their spend on 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

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

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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