Analytics market to triple
The global insurance analytics market is forecast to reach $48B by 2033 as carriers invest in fraud detection, claims automation, and predictive modeling — vendors like LexisNexis, Microsoft and Hexaware are highlighted as leaders. (globenewswire.com)
Grand View Research estimated the insurance-analytics market at USD 15.75 billion in 2025 and forecast a 15.0% compound annual growth rate for 2026–2033. (grandviewresearch.com) Hexaware announced two cloud-native insurance platforms—ParaClaims and Intelligent Product Factory—built on Google Cloud on November 11, 2025 to automate parametric claims and streamline product development for brokers, MGAs and (re)insurers. (prnewswire.com) LexisNexis Risk Solutions added Claims Datafill enhancements on April 11, 2024 to surface police-report and violation availability for U.S. auto claims, and the company says its data and analytics support more than 500,000 decisions daily. (prnewswire.com) Microsoft is packaging Azure AI, Microsoft 365 Copilot and industry tooling under Microsoft Cloud for Insurance to target underwriting, claims and risk-modeling modernization, and partner solutions exist to pipe Guidewire data into Azure Synapse for analytics. (microsoft.com) Industry guides map the claims lifecycle as FNOL → triage/assignment → coverage verification & reserving → investigation & assessment → adjudication/settlement → recovery/subrogation, and multiple vendors highlight that the first 24 hours of FNOL critically influence claim cost and customer attrition. (vcasoftware.com) Market estimates for 2031–2033 vary widely across research houses—ResearchAndMarkets projects about USD 30.9 billion by 2033, MarketDataForecast about USD 33.08 billion by 2033, while Mordor Intelligence models the market growing to roughly USD 132.04 billion by 2031—illustrating methodological divergence carriers and vendors must weigh. (researchandmarkets.com)
