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RPA in the Insurance Market To Reach USD 410.85 Billion By Year 2032

The RPA in the Insurance market was worth USD 102.34 Million in 2023. As such, the forecast is that the market is expected to reach USD 410.85 Million by 2032 with a CAGR of 16.7% over the period from 2024 to 2032.

Swati Kalagate
Service Industry
Pristine Intelligence LLP

According to a new report published by Pristine Intelligence Research, titled, “Global RPA in the Insurance Market by Component, Deployment Mode, Enterprise Size and Application: Opportunity Analysis and Industry Forecast, 2024–2030,” 

The RPA in the Insurance market was worth USD 102.34 Million in 2023. As such, the forecast is that the market is expected to reach USD 410.85 Million by 2032 with a CAGR of 16.7% over the period from 2024 to 2032.

Robotic Process Automation (RPA) is revolutionizing the insurance market by streamlining operations, enhancing customer experiences, and improving efficiency. In this dynamic sector, RPA offers significant advantages by automating repetitive tasks, reducing errors, and freeing up human resources for more strategic activities.

In insurance, RPA is extensively used for back-office operations such as claims processing, policy administration, and underwriting. RPA bots can swiftly extract data from various sources, validate information, and update systems accurately, thus accelerating the entire process. This efficiency boosts productivity ensures compliance with regulations and reduces the risk of errors.

Moreover, RPA facilitates seamless integration between disparate systems, enabling insurers to enhance their legacy infrastructure without undergoing costly and time-consuming overhauls. This interoperability allows for smoother data exchange and better collaboration across departments, leading to faster decision-making and improved customer service.

Customer service is a critical aspect of the insurance industry, and RPA plays a pivotal role in enhancing it. Bots can handle routine inquiries, process policy renewals, and even assist with claims submissions, providing customers with quick and personalized assistance around the clock. By automating these tasks, insurers can offer a more responsive and efficient service while reducing operational costs.

RPA integrates seamlessly into existing systems, automating repetitive tasks with speed and accuracy. In the context of fraud detection, RPA can swiftly analyze vast amounts of data, cross-referencing information to identify suspicious patterns or anomalies. This capability significantly enhances the efficiency of fraud detection processes, allowing insurers to pinpoint fraudulent activities in real time or even before they occur.

Integration across disparate systems is another area where RPA can add substantial value. Insurance firms often deal with multiple legacy systems that are not compatible, leading to inefficiencies and data silos. RPA bots can bridge these systems by automating data transfer, synchronization, and validation processes. This enables seamless communication between different departments, enhances data visibility, and ensures consistency across the organization.

Global RPA in the Insurance Market, Segmentation

The Global RPA in the Insurance market is segmented based on Component, Application, Deployment Mode, Organization Size, and End User.


Insurance companies face a myriad of tasks ranging from claims processing and policy management to underwriting and customer service. The Service segment of RPA caters precisely to these needs by offering tailored solutions designed to automate repetitive tasks, minimize errors, and accelerate response times. By leveraging RPA in the Service segment, insurers can achieve significant cost savings by reducing manual intervention, enhancing accuracy, and ensuring compliance with regulatory standards. Moreover, the scalability of RPA enables insurers to adapt to evolving market dynamics and effectively manage fluctuations in demand.

Deployment Mode:

Robotic Process Automation (RPA) within the insurance sector, the On-Premise deployment mode stands as a dominant force. This dominance is underpinned by several key factors that align closely with the specific needs and preferences of insurance companies. The nature of sensitive data handling and regulatory compliance in the insurance industry often necessitates stringent security measures. On-Premise deployment provides a greater sense of control and security as it allows organizations to directly manage and safeguard their data within their own infrastructure.


The North America's insurance industry is characterized by its large market size, diverse product offerings, and stringent regulatory requirements, all of which make it ripe for automation solutions. RPA technologies offer insurers the means to automate repetitive tasks, such as claims processing, underwriting, policy administration, and customer service inquiries, thereby reducing costs, minimizing errors, and accelerating time-to-market. Moreover, the increasing complexity of insurance products and the growing demand for personalized services necessitate advanced automation capabilities, which North American insurers are keen to adopt.

Some of The Leading/Active Market Players Are-

  • UiPath (USA)
  • Automation Anywhere (USA)
  • Blue Prism (UK)
  • Pegasystems (USA)
  • Kryon (Israel)
  • NICE (Israel)
  • WorkFusion (USA)
  • EdgeVerve Systems (India)
  • Thoughtonomy (UK)
  • Jacada (USA)
  • AntWorks (Singapore), Other Active players

Key Industry Developments: -

  • In November 2023 - Aspire Systems, a globally renowned technology services company, has partnered with BNF Bank on a transformation journey to implement Temenos digital banking solutions. The partnership help BNF Bank modernise its banking operations to stay competitive and relevant in the ever-evolving banking industry while providing exceptional banking experience to its customers.
  • In October 2023 - Aspire Systems, a leading global technology services firm specializing in digital transformation, is thrilled to announced its silver sponsorship of Guidewire Connections 2023, a premier event in the P&C insurance industry. The event is set to take place from November 12 to 15 at Gaylord Opryland Resort & Convention Center, in Nashville, Tennessee, and Aspire Systems is proud to be a key participant in this exciting gathering of insurance professionals.

Key Findings of the Study 

  • The implementation of Robotic Process Automation (RPA) in the insurance sector leads to significant cost savings by reducing manual intervention, minimizing errors, and streamlining processes. This efficiency enhancement allows insurers to handle tasks such as claims processing, policy management, underwriting, and customer service more swiftly and accurately.
  • RPA deployment, especially in the On-Premise mode, provides insurance companies with greater control over sensitive data handling and ensures compliance with regulatory standards. By managing and safeguarding data within their own infrastructure, insurers can mitigate risks associated with data breaches and regulatory non-compliance.
Pristine Intelligence LLP

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