The global disability insurance market is expected to achieve substantial growth, according to a report by Allied Market Research. The market is projected to reach a revenue figure of $9.2 billion by 2031, with the industry already having generated $3.3 billion in 2021. Central to this growth is raised awareness of disability insurance benefits and increased data transparency. Automated claim technology, which speeds up the traditionally lengthy claims process, has contributed significantly to market growth. Importantly, improved customer experiences and minimized operational expenses also play a role in fostering growth. The industry is also seeing a surge in the adoption of new technology to boost productivity and client satisfaction, such as automated claims processing and enrollment technologies.

A segmented view of the industry shows that employer supplied disability insurance had the largest market share in 2021. This segment is projected to continue its dominance in terms of revenue throughout the forecast period. However, rapid growth can be anticipated in the business overhead expense disability insurance segment, which is predicted to register the highest CAGR from 2022 to 2031. The individual user segment, holding the most significant share in 2021, is forecast to maintain its market lead by 2031. Moreover, long-term disability insurance held the largest share in 2021 and is expected to continue leading the market in 2031.

There are regional variances in market dominance, with North America claiming the highest market share in 2021. The region will likely maintain this dominance throughout the forecast period. Meanwhile, Asia-Pacific will likely see significant growth due to increasing employee awareness of disability insurance.

However, securing disability insurance is just part of the battle. Users often face difficulties in obtaining information concerning their policy or claims. If you’re a policyholder under the California State Disability Insurance (SDI) program, you may wonder how to contact SDI. For assistance, consider visiting eddcaller.com, a platform designed to help policyholders reach their respective disability insurance representatives more effectively. Communicating with a live representative can clarify any questions you might have, facilitate your claims process, and ensure you’re benefiting fully from your coverage.