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Third-Party Administrators & Insurance Claims Adjusters in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Third-Party Administrators & Insurance Claims Adjusters Market Research Report | NAICS 52429 | Mar 2017

Adjustable rate: Higher downstream demand and increased outsourcing will support revenue growth

IBISWorld’s Third-Party Administrators & Insurance Claims Adjusters market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
$211bn
Annual Growth 12-17
3.8%
Annual Growth 17-22
Annual Growth
Profit
Profit
Employment
412,323
Businesses
134,626
Industry Threats & Opportunities
  • Growth in outsourcing and demand for advisory services will drive revenue
  • The number of companies and individuals participating in the industry has rebounded
  • Demand for claims adjusting is typically generated by an increase in the number of policyholders
  • ... purchase to read more

Industry Analysis & Industry Trends

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 outsourced these services to cut operating costs and improve profitability. Over the five years to 2017, industry revenue is expected to grow. Revenue has grown robustly since 2012, as falling unemployment and rising disposable income bolstered demand for insurance and retirement plans. Industry revenue is projected to continue growing over the five years to 2022... ... purchase to read more

Industry Report - Industry Investment Chapter

The Third-Party Administrators and Insurance Claims Adjusters industry undertakes labor-intensive administrative and processing functions on behalf of insurers and insurance funds. It also provides clients with advisory services, for which the primary input is human capital. Most individuals employed in the industry have undergone significant training, in addition to possessing other qualifications.

Insurance consultants provide a broad spectrum of services requiring expertise in multiple disciplines, such as risk identification, estimation and mitigation; knowledge of insurance lines and client specifics (e.g. operations, industries and fields of business); actuarial analysis; and understanding regulatory and legal environments. Eff.. ... purchase to read more

Additional Insights for the Third-Party Administrators & Insurance Claims Adjusters Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Third-Party Administrators & Insurance Claims Adjusters Industry are

  • Access to highly skilled workforce
  • Undertaking technical research and development
  • Ability to vary services to suit different needs
  • IBISWorld analysts also discuss how external factors such as Number of employees and Per capita disposable income in the Third-Party Administrators & Insurance Claims Adjusters industry impact industry performance... purchase to read more

     


    Industry ProductsRelated Reports

    What is the Third-Party Administrators & Insurance Claims Adjusters Industry?

    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.

    Industry Products
    Third-party administration of health and welfare fundsThird-party administration of workers' compensation fundsThird-party administration of self-insurance fundsClaims adjustment servicesConsulting services for insuranceOther services
     
    Industry Activities
    Investigating, appraising and settling claimsThird-party claims processingThird-party insurance and pension fund administrationInsurance actuarial servicesInsurance advisory servicesInsurance exchangesInsurance loss prevention servicesInsurance rate-making servicesInsurance reporting servicesMedical cost evaluation services


    Table of Contents
    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Number of employees
  • Per capita disposable income
  • Natural disaster index
  • S&P 500
  • Current Performance
  • Robust demand
  • Growing competition
  • Chart: Revenue Growth
  • Industry Outlook
  • Greater demand
  • Industry landscape
  • Table: Third-Party Administrators & Insurance Claims Adjusters Industry Revenue Outlook
  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Third-Party Administrators & Insurance Claims Adjusters Industry Lifecycle vs The Economy
  • Products & Markets
    Supply Chains
  • Key Buying Industries
  • Life Insurance & Annuities
  • Health & Medical Insurance
  • Property, Casualty and Direct Insurance
  • Reinsurance Carriers
  • Retirement & Pension Plans
  • Health & Welfare Funds
  • Workers' Compensation & Other Insurance Funds
  • Key Selling Industries
  • Health & Medical Insurance
  • Health & Welfare Funds
  • Life Insurance & Annuities
  • Property, Casualty and Direct Insurance
  • Retirement & Pension Plans
  • Workers' Compensation & Other Insurance Funds
  • Products & Services
  • Third-party administration of health and welfare funds
  • Claims adjustment services
  • Other services
  • Consulting services for insurance
  • Third-party administration of workers' compensation funds
  • Third-party administration of self-insurance funds
  • Chart: Third-Party Administrators & Insurance Claims Adjusters Industry Products and Services Segmentation
  • Demand Determinants
  • The insurance cycle
  • Captive management
  • Third-party administration
  • Claims adjusting
  • Major Markets
  • Insurance funds
  • Life insurers
  • Pension funds
  • Health insurers
  • Property and casualty insurers
  • Other
  • Chart: Major Market Segmentation for the Third-Party Administrators & Insurance Claims Adjusters Industry
  • International Trade
    Business Locations
  • Chart: Business Locations by State
  • Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Third-Party Administrators & Insurance Claims Adjusters
  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Third-Party Administrators & Insurance Claims Adjusters Industry
  • Industry Globalization
    Major Companies
    There are no major players in this industry
    Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Third-Party Administrators & Insurance Claims Adjusters Industry
  • Chart: Tools of the Trade: Growth Strategies for Success
  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth
  • Regulation & Policy
    Industry Assistance
    Key Statistics
  • Table: Industry Data for the Third-Party Administrators & Insurance Claims Adjusters Industry
  • Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Prime rate (2008-2022)
  • Table: Annual Percentage Change for Key Industry Data
  • Table: Key Ratios for Industry Key Data
  • Table: Industry Financial Ratios
  • Jargon & Glossary
    Claims Adjusting
  • The process of investigating, appraising and settling insurance claims to determine the extent of a company's liability.
  • Hard Market
  • A period of increasing insurance prices as the demand for insurance overshoots supply. The supply of insurance depends on insurers' capital position.
  • Insurance Service Provider
  • A company that offers insurance services including claim adjustment, third-party insurance fund administration, claims processing administration, and actuarial, consultancy and advisory services.
  • Soft Market
  • A period of falling insurance prices as the supply of insurance is greater than demand, which often leads to increased price competition.
  • Uninsured Rate
  • The number of people above the age of 18 who do not have health insurance divided by the total number of people above 18 years of age.

  • Why Buy this Report?
    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Third-Party Administrators & Insurance Claims Adjusters:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Third-Party Administrators & Insurance Claims Adjusters market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Third-Party Administrators & Insurance Claims Adjusters, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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