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MCLEAN, Va. - Appian (NASDAQ: APPN) has been recognized as a Leader in Everest Group’s AI-enabled Claims Management Systems for Property & Casualty (P&C) Insurance – Products PEAK Matrix® Assessment 2025. The company announced the launch of Connected Claims 2.0 today, a solution designed to streamline the insurance claims process with AI-driven automation and data integration.
Connected Claims 2.0, built on Appian’s low-code platform, aims to provide insurers with a unified claims workflow that enhances fraud detection, improves data management, and increases customer satisfaction. The platform’s new features include a single pane of glass for a comprehensive view, real-time data access, and AI-powered insights, which facilitate rapid decision-making and claim processing.
The global insurance claims services market is projected to grow substantially, reaching $638.3 billion by 2032. In response to this trend, Connected Claims 2.0 offers capabilities such as data classification, document summarization, and next-best-action recommendations. The Appian AI Document Center, a new addition to the platform, allows users to train models for extracting data from unstructured documents, which can improve accuracy and speed in claims handling.
Everest Group’s assessment highlighted Appian’s strength in integrating AI directly into processes, allowing for seamless access to advanced AI capabilities. Aurindum Mukherjee, Practice Director at Everest Group, commended Appian for its strong integration support and success in driving value for P&C insurers.
Jake Sloan, Global Vice President of Insurance at Appian, emphasized the urgency for the insurance industry to adopt solutions like Connected Claims 2.0 for tackling complexity and achieving early value realization. The solution is designed to be configurable and rapidly deployable, leveraging AI to accelerate processing cycles and personalize customer experiences.
This recognition from Everest Group underscores Appian’s commitment to innovation in the insurance industry, providing solutions that balance efficiency and customer satisfaction. The information for this article is based on a press release statement.
In other recent news, Appian Corporation reported its first-quarter 2025 financial results, highlighting a revenue of $166.4 million, which exceeded expectations and marked an 11% year-over-year growth. The company’s cloud subscription revenue saw a 15% increase, reaching $99.8 million. Despite a slight miss on earnings per share, with a loss of $0.02 against a forecasted gain of $0.01, Appian’s adjusted EBITDA showed a significant improvement, turning positive at $16.8 million. In the federal business segment, which contributed to 24% of the quarter’s revenue, bookings grew by 59% year-over-year, underscoring strong performance in this sector.
Appian also announced a $10 million stock repurchase program aimed at offsetting stock-based employee compensation. Analyst firm Citi responded positively to Appian’s financial performance, raising the stock price target to $41 from $40 while maintaining a Buy rating. This decision was influenced by Appian’s top-line revenue outperformance and significant EBITDA beat. The company is also making strides in AI monetization, with new pricing tiers contributing $9 million in revenue for the quarter.
Moreover, Appian’s management remains cautiously optimistic about the rest of the year, bolstered by robust results and no observed macroeconomic impacts on their sales pipeline. The company projects cloud subscription revenue for the full year 2025 to be between $419 million and $423 million, representing a 14-15% growth. Additionally, Appian’s efforts in AI integration have been noteworthy, with 70% of its cloud customers adopting AI, contributing to the positive revenue surprise.
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