MEDICAL CLAIMS PROCESSING SERVICES MARKET ANALYSIS

Regional Analysis

According to Swiss Re, the global insurance penetration rate was a mere 6.2% in 2014, with India having insurance penetration rate on the lower side, at just 3.9% in the same year. Moreover, the study found that the insurance penetration rate fell to 3.2% in 2015 in India. The U.S., Japan, U.K., Australia, Italy, and France are some of the leading countries in the global medical claims processing services market, owing to higher insurance penetration rate, increasing number of claims, and growing demand from healthcare providers. Furthermore, favorable healthcare policy and government initiatives such as Affordable Care Act have also boosted demand for medical claim processing services in the U.S. Europe is quickly emerging as another important medical claims processing services market. However, introduction of Solvency II in Europe may have an adverse impact on the insurance operators in Europe.

Although the medical claims processing services market in Asia Pacific and Rest of the World are still at a very nascent stage, high population base and increasing awareness for insurance in the middle income group is expected to boost demand for medical claim processing services in the near future.