Industry Description
This U.S. industry comprises establishments primarily engaged in providing third party administration services of insurance and pension funds, such as claims processing and other administrative services to insurance carriers, employee benefit plans, and self-insurance funds.
Cross-References. Establishments primarily engaged in--
Business Examples
Common types of business activities within NAICS 524292 - Third Party Administration of Insurance and Pension Funds are:
- Insurance claims processing services, third party
- Insurance fund, third party administrative services (except claims adjusting only)
- Insurance plan administrative services (except claims adjusting only), third party
- Pension fund, third party administrative services
- Employee benefit plans, third party administrative processing services
- Claims processing services, insurance, third party
IBISWorld Industry Research Report
Third-Party Administrators & Insurance Claims Adjusters in the US (52429)
Revenue 2025
$319.8bn
Growth 2025
1.42%
Key Trends
Outsourcing to industry operators will likely rise as market segments have lower claim volumes
Industry revenue has increased despite the COVID-19 (coronavirus) pandemic in 2020
Insurance policy volumes are expected to rise moving forward, particularly among corporations
Products and Services
Similar Industries
For some business types, there may be a similar industry to 524292 - Third Party Administration of Insurance and Pension Funds that is a better classification match. Establishments primarily engaged in:
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NAICS Cross Reference
Managing the portfolio assets (i.e., funds) of others--are classified in Industry 523920, Portfolio Management; and
IBISWorld industry research report
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NAICS Cross Reference
Providing actuarial consulting services--are classified in U.S. Industry 541612, Human Resources Consulting Services.
IBISWorld industry research report
NAICS Hierarchy 524292 - Third Party Administration of Insurance and Pension Funds
NAICS Code 524292 - Third Party Administration of Insurance and Pension Funds sits in the 2-digit Third Party Administration of Insurance and Pension Funds sector. NAICS codes can be 2- to 6-digits and the further along the hierarchy, the more detailed and specific the category will be. Learn more about the structure of NAICS codes
2 Digits: 52
Sector Title: Finance and Insurance
3 Digits 4 Digits 5 Digits 6 Digits
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5211 Monetary Authorities-Central Bank
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52111 Monetary Authorities-Central Bank
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5221 Depository Credit Intermediation
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52211 Commercial Banking
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52212 Savings Institutions
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52213 Credit Unions
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52219 Other Depository Credit Intermediation
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5222 Nondepository Credit Intermediation
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52221 Credit Card Issuing
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52222 Sales Financing
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52229 Other Nondepository Credit Intermediation
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5223 Activities Related to Credit Intermediation
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52231 Mortgage and Nonmortgage Loan Brokers
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52232 Financial Transactions Processing, Reserve, and Clearinghouse Activities
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52239 Other Activities Related to Credit Intermediation
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5231 Securities and Commodity Contracts Intermediation and Brokerage
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52311 Investment Banking and Securities Dealing
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52312 Securities Brokerage
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52313 Commodity Contracts Dealing
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52314 Commodity Contracts Brokerage
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5232 Securities and Commodity Exchanges
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52321 Securities and Commodity Exchanges
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5239 Other Financial Investment Activities
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52391 Miscellaneous Intermediation
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52392 Portfolio Management
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52393 Investment Advice
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52399 All Other Financial Investment Activities
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5241 Insurance Carriers
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52411 Direct Life, Health, and Medical Insurance Carriers
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52412 Direct Insurance (except Life, Health, and Medical) Carriers
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52413 Reinsurance Carriers
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5242 Agencies, Brokerages, and Other Insurance Related Activities
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52421 Insurance Agencies and Brokerages
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52429 Other Insurance Related Activities
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5251 Insurance and Employee Benefit Funds
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52511 Pension Funds
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52512 Health and Welfare Funds
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52519 Other Insurance Funds
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5259 Other Investment Pools and Funds
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52591 Open-End Investment Funds
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52592 Trusts, Estates, and Agency Accounts
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52599 Other Financial Vehicles
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Similar Industries Niche and Emerging
IBISWorld provides research on hundreds of niche and emerging industries, including the following for 524292 - Third Party Administration of Insurance and Pension Funds.
- Medical Claims Processing Services in the US OD4792
- Benefit Administration Services in the US OD5533
NAICS Resources
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