Best Claims Management Software of 2026

Insurance providers need an efficient way to handle the entire claims management process from end-to-end—from the first notice of loss to setting up a claim, processing and settling.

When the insurer is first notified, the claims processing life cycle is kicked off. During this workflow, insurance professionals need to track the claims in a way that reduces costs, avoids fraud and improves customer service and communication.

This guide is designed to help insurance providers and agencies searching for a claims management system. In it, we look at common features, types of buyers, costs and trends that may impact your business.

Here's what we'll cover:

What Is Claims Management Software?

Common Claims Management Software Features

Benefits of Claims Management Software

Key Considerations When Purchasing Claims Management Software

How Much Does Insurance Software Cost?

What Is Claims Management Software?

Claims management software offers tools to streamline the process of moving a claim through the initial contact all the way to a resolution that is satisfying to the customer and your company.

A view of claims being tracked in Insly

Throughout this task, users can leverage external sources to verify information, manage important documents, track customer details and utilize reporting tools to spot trends in operations.

Common Claims Management Software Features

Claims management systems potentially include several features designed to guide users through the full workflow. These can include:

Benefits of Claims Management Software

The customizable workflows and tracking capabilities available in claims management systems result in some significant benefits for agencies:

• Reduced costs due to a streamlined workflow and a quicker resolution for most claims.

• Better customer service based on the ability to provide more accurate insights into the status of a claim and self-service functionality.

• Fewer fraudulent claims using tools that connect you to multiple sources of data to verify claim information.

Key Considerations When Purchasing Claims Management Software

For any software purchase, there are some important factors to consider that can impact the success of the investment. Some are universal, and some are specific to your particular type of business:

On-premise or cloud-based deployment? Insurance and claims management software are offered via two different types of deployments—on-premise or cloud-based. On-premise is the traditional method of installing a system on the buyer's computers, while cloud-based software (also called Software-as-a-Service, or SaaS) is accessible through a web browser.

On-premise is usually a more customizable option, but requires more IT resources. And cloud-based systems don't typically include a large upfront cost to get started. Evaluate these options for each vendor to determine the best fit.

What integrations do you need? Some types of software, such as CRM, accounting or advanced business intelligence systems, are used by a wide variety of industries. You may want these systems to connect with the claims management functionality. It's important to discuss integration options with any vendor you decide to work with.

What type of insurance do you offer? Based on whether you provide property and casualty (P&C), life and annuities (L&A) or health insurance, some claims management software vendors can offer workflows for different types of claims. Ask whether vendors can customize aspects of the system so your daily tasks are as streamlined as possible.

How Much Does Claims Management Software Cost?

Unlike some other software types, claims and insurance software vendors don't often list this information online, for a reason. Usually, it's because they want you to call for more details, so they can sell you on other software features.

Most insurance systems are offered on a subscription pricing plan, and you're likely to find a stand-alone claims management system for a few hundred to $1,500 per month.

Some subscription costs may also include specific parameters, such as a price per user. Keep your budget in mind when evaluating pricing plans to find one that makes the most sense for your needs.