Third-Party Administrators & Insurance Claims Adjusters Now Available
PR Web |
The US Third-Party Administrators and Insurance Claims Adjusters industry plays a critical role in the insurance and funds sectors by allowing businesses to outsource certain functions, such as claims processing and adjusting, policy and fund administration and risk management and actuarial services. According to IBISWorld industry analyst
In the five years to 2012, industry revenue is expected to increase at an average annual rate of 3.1% to
The US Third-Party Administrators and Insurance Claims Adjusters industry has a low level of concentration and a high level of fragmentation. The top three players are expected to account for less than one-fifth of industry revenue in 2012. According to the US Census and IBISWorld estimates, about 55.4% of industry employer enterprises contain fewer than five individuals. Conversely, about 1.7% of industry firms employ more than 250 people. The industry can be separated into three main sectors: claims adjusting, third-party administration of insurance and pension funds and all other insurance-related activities. The risk management and consultancy segment comprises the three largest industry players,
In 2012, industry revenue is expected to increase about 1.1% as individuals and businesses slowly expand insurance coverage in an improving economy. Over the five years to 2017, industry revenue is expected to continue increasing. Pension funds and direct insurers will continue to increase outsourcing activities, which will drive growth. As the economy recovers, insurance policy volumes will rise, particularly within the business sector; generally, an increase in the number of policies leads to a rise in the need for claims adjustment services. Operators will also benefit from an increased demand for risk management services and data analytics because businesses, insurers and individuals use these services to mitigate risks and hedge liabilities.
For more information, visit IBISWorld’s Third-Party Administrators & Insurance Claims Adjusters in the US industry report page.
Follow IBISWorld on Twitter: https://twitter.com/#!/IBISWorld
Friend IBISWorld on Facebook: http://www.facebook.com/pages/IBISWorld/121347533189
IBISWorld industry Report Key Topics
This industry is composed of three segments: claims adjusting; third-party administration of insurance; and pension funds and insurance consulting and advisory services. The first segment includes investigating, appraising and settling insurance claims; the second consists of claims processing and administrative services; and the third focuses on insurance advisory or risk management operations. Insurance brokerage and sales are not included in this report (see IBISWorld report 52421).
Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
Major Companies
Operating Conditions
Capital Intensity
Key Statistics
Industry Data
Annual Change
Key Ratios
About
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in
Read the full story at http://www.prweb.com/releases/2012/9/prweb9932439.htm
Copyright: | (c) 2012 PRWEB.COM Newswire |
Wordcount: | 746 |
Alternative Investments Essential In Volatile Markets
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News