Workflow systems market set to boom
Market reports say the workflow‑management system market is about to surge as carriers scramble for scalable, real‑time claim pipelines and regulatory reporting support reported. Vendors pitching FNOL-to‑settlement automation and audit trails expect a big uptick in RFP activity as insurers modernize cores.
Market forecasts differ sharply: Grand View Research put the workflow‑management market at $9.54 billion in 2022 with a projected 33.3% CAGR through 2030 (grandviewresearch.com), while Verified Market Reports projected the sector at $9.5 billion in 2024 rising to $23.7 billion by 2033 at a 10.7% CAGR. (verifiedmarketreports.com) Consultancies flag heavy core‑modernization budgets that feed demand for workflow platforms: BCG estimated North American insurers will spend about $10.5 billion on core IT modernization from 2024–2026. (bcg.com) Bain has documented procurement’s closer collaboration with claims teams to steer automation purchases and vendor selection. (bain.com) Major platform vendors are explicitly selling FNOL‑to‑settlement automation: Guidewire’s claims suite advertises automated FNOL triage and configurable workflows for severe‑claim identification (guidewire.com), while specialist vendors Ushur and Regure promote invisible‑app FNOL capture, automated evidence ingestion and end‑to‑end audit trails. (ushur.ai) Public RFPs provide immediate proof of pipeline activity: New York City posted a Claims Processing Modernization RFP addendum in 2025 seeking workflow replacement and implementation support (comptroller.nyc.gov), and Florida’s Department of Financial Services issued an ITN to replace its Online Liquidation Claims Processing System with a modernized workflow in 2026. (rfpmart.com) Decision‑maker mix on these buys routinely spans Chief Claims Officers, CIOs, procurement leads and SIU managers; James River’s recent appointments naming Valdean Langenburg as CIO and Justin Zaharris as Group Chief Claims Officer illustrate those roles’ visibility in transformation programs. (ainvest.com) Thomson Reuters‑linked industry analysis notes that nearly all carriers now maintain formal SIUs and estimates fraud appears in roughly 10% of claims, increasing demand for integrated fraud‑triage workflows. (legal.thomsonreuters.com) Places to surface ABM and account outreach include ITC Vegas—InsureTech Connect drew over 9,000 attendees and 762 sponsors in 2025 (insurancebusinessmag.com) and RISKWORLD/RIMS events that attracted roughly 12,000 risk‑management professionals in 2025 (oliverwyman.com); targeted editorial outlets with claims audiences include Insurance Journal and Claims Journal, both publishers with dedicated claims coverage and industry newsletters. (insurancejournal.com)
