Third-Party Administrators & Insurance Claims Adjusters in the US
The Third-Party Administrators and Insurance Claims Adjusters industry plays a critical role in the insurance and retirement markets by enabling businesses to outsource claims processing, administrative services and risk management. Insurance carriers and pension funds, health and welfare funds, workers' compensation funds and self-insurance funds have increasingly relied on these services to cut operating costs and improve efficiency. Additionally, insurance carriers and employee-benefit funds incurred major losses due to the financial crisis of the mid-2000s, which severely affected the investments of these funds and demand for insurance plans. Since then, risk management and other insurance advisory services have benefited from increased demand for industry services, as companies seek to prevent future losses and consumers' demand for insurance plans increases. In 2018 alone, industry revenue is forecast to increase due to a boost in equity markets and per capita disposable income. Moreover, increases in the number of employees and retirees will support higher insurance and retirement fund activity. These funds are expected to sustain high demand for industry services, bolstering revenue in the outlook period. I
Operators in this industry investigate, appraise and settle insurance claims; provide third-party administration services of insurance and pension funds; and offer insurance advisory and ratemaking services. This industry does not include companies that primarily provide portfolio management services, sell insurance policies or offer actuarial consulting services.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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