Dublin, Sept. 27, 2021 (GLOBE NEWSWIRE) -- The "Insurance Third Party Administrator Market by Service Type, End User and Enterprise Size: Global Opportunity Analysis and Industry Forecast, 2021-2030" report has been added to ResearchAndMarkets.com's offering.
A third party administrator is a company that provides operational services such as claims processing and employee benefits management under contract to another company. Insurance companies and self-insured companies often outsource their claims processing to third party administrator. Furthermore, third party administrators are commonly used by health insurance providers & employee management firms to outsource their administrative functions such as claims administration, premium billing, customer enrollment, and other day-to-day operations.
Adoption of third party administrator services by the health insurance companies and need for effective management of claims by insurance companies are some of the factors propelling the market growth. However, concern regarding security and privacy from third parties is a major factor limiting the insurance third party administrator market. On the contrary, use of technology by TPAs to handle claims and other processes ensures highly efficient insurance services & provides outstanding service and reduces operational cost. Technologies, such as Internet of things (IoT), artificial intelligence, and machine learning, have led to the growth of the industry. For instance, Exela Technologies, Inc., a global business process automation (BPA) leader, expanded the PCH Global platform deployment to accelerate the digital transformation efforts for a major U.S. health insurance company's TPA division. This expansion of deployment has digitally connected members, providers, and insurance companies for better claim process, payment transparency, and digital appeals. Thus, the demand for insurance third party administration is expected to grow tremendously in the coming years.
The insurance third party administrator market is segmented on the basis of service type, end user, enterprise size, and region. By service type, it is divided into claims management, policy management, commission management, and others. By end user, it is bifurcated into life & health insurance and property & casualty (P&C) insurance. By enterprise size, it is divided into large enterprises and small & medium-sized enterprises. By region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the insurance third party administrator market such as Charles Taylor, CORVEL, CRAWFORD & COMPANY, ESIS, ExlService Holdings, Inc., GALLAGHER BASSETT SERVICES, INC., Helmsman Management Services LLC, Meritain Health, SEDGWICK, and United HealthCare Services, Inc. These players have adopted various strategies to increase their market penetration and strengthen their position in the insurance third party administrator market.
Key Benefits
- The study provides in-depth analysis of the insurance third party administrator market along with the current & future trends to illustrate the imminent investment pockets.
- Information about key drivers, restrains, & opportunities and their impact analysis on the insurance third party administrator market size are provided in the report.
- Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the insurance third party administrator market from 2021 to 2030 is provided to determine the market potential.
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key forces shaping global insurance third party administrator market
3.3. Industry evolution/industry roadmap
3.4. Impact of government regulations on the global insurance third-party administrator (TPA) market
3.5. Market dynamics
3.5.1. Drivers
3.5.1.1. Surge in adoption of third party administrators in the health insurance industry
3.5.1.2. Rise in need for operational efficiency & transparency in insurance business process
3.5.2. Restraint
3.5.2.1. Security issues and privacy concerns
3.5.3. Opportunity
3.5.3.1. Technological advancement in third party administrator services
3.6. COVID-19 impact analysis on insurance third party administrator market
3.6.1. Impact on insurance third party administrator market size
3.6.2. Change in consumer trends, preferences, and budget impact, owing to COVID-19
3.6.3. Framework for market challenges faced by insurance third party administrator providers
3.6.4. Economic impact on insurance third party administrator providers
3.6.5. Key player strategies to tackle negative impact on the industry
3.6.6. Opportunity analysis for insurance third party administrator
CHAPTER 4: INSURANCE THIRD PARTY ADMINISTRATOR MARKET, BY ENTERPRISE SIZE
4.1. Overview
4.2. Large enterprises
4.2.1. Market size and forecast, by region
4.2.2. Market size and forecast, by region
4.2.3. Market analysis, by country
4.3. Small & medium-sized enterprises (SMEs)
4.3.1. Market size and forecast, by region
4.3.2. Market size and forecast, by region
4.3.3. Market analysis, by country
CHAPTER 5: INSURANCE THIRD PARTY ADMINISTRATOR MARKET, BY END USER
5.1. Overview
5.2. Life & health insurance
5.2.1. Market size and forecast, by region
5.2.2. Market size and forecast, by region
5.2.3. Market analysis, by country
5.2.4. Global life & health insurance third-party administrators market, by type
5.2.4.1. Life insurance
5.2.4.1.1. Market size and forecast, by region
5.2.4.2. Market analysis, by country
5.2.4.3. Health insurance
5.2.4.3.1. Market size and forecast, by region
5.2.4.3.2. Market analysis, by country
5.2.4.3.3. Health insurance third-party administrators market, by type
5.2.4.3.4. Disease insurance
5.2.4.3.5. Market size and forecast, by region
5.2.4.3.6. Market analysis, by country
5.2.4.3.7. Medical insurance
5.2.4.3.8. Market size and forecast, by region
5.2.4.3.9. Market analysis, by country
5.2.4.3.9.1. Disease insurance third-party administrators market, by demographics
5.2.4.3.9.2. Senior citizens
5.2.4.3.10. Market size and forecast, by region
5.2.4.3.11. Market analysis, by country
5.2.4.3.11.1. Adults
5.2.4.3.12. Market size and forecast, by region
5.2.4.3.13. Market analysis, by country
5.2.4.3.13.1. Minors
5.2.4.3.14. Market size and forecast, by region
5.2.4.3.15. Market analysis, by country
5.3. P&C insurance
5.3.1. Market size and forecast, by region
5.3.2. Market size and forecast, by region
5.3.3. Market analysis, by country
CHAPTER 6: INSURANCE THIRD PARTY ADMINISTRATOR MARKET, BY SERVICE TYPE
6.1. Overview
6.2. Claims management
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast, by region
6.2.3. Market analysis, by country
6.3. Policy management
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast, by region
6.3.3. Market analysis, by country
6.4. Commission management
6.4.1. Key market trends, growth factors, and opportunities
6.4.2. Market size and forecast, by region
6.4.3. Market analysis, by country
6.5. Others
6.5.1. Key market trends, growth factors, and opportunities
6.5.2. Market size and forecast, by region
6.5.3. Market analysis, by country
CHAPTER 7: INSURANCE THIRD PARTY ADMINISTRATOR MARKET, BY REGION
CHAPTER 8: COMPETITIVE LANDSCAPE
8.1. Introduction
8.1.1. Market player positioning, 2020
8.1.2. Top winning strategies
CHAPTER 9: COMPANY PROFILES
9.1. CHARLES TAYLOR
9.1.1. Company overview
9.1.2. Company snapshot
9.1.3. Product portfolio
9.1.4. Key strategic moves and developments
9.2. CORVEL
9.2.1. Company overview
9.2.2. Company snapshot
9.2.3. Product portfolio
9.2.4. Business performance
9.2.5. Key strategic moves and developments
9.3. CRAWFORD & COMPANY
9.3.1. Company overview
9.3.2. Company snapshot
9.3.3. Product portfolio
9.3.4. Key strategic moves and developments
9.4. ESIS
9.4.1. Company overview
9.4.2. Company snapshot
9.4.3. Product portfolio
9.4.4. Key strategic moves and developments
9.5. EXLSERVICE HOLDINGS, INC.
9.5.1. Company overview
9.5.2. Company snapshot
9.5.3. Operating business segments
9.5.4. Product portfolio
9.5.5. Business performance
9.5.6. Key strategic moves and developments
9.6. GALLAGHER BASSETT SERVICES, INC.
9.6.1. Company overview
9.6.2. Company snapshot
9.6.3. Product portfolio
9.6.4. Key strategic moves and developments
9.7. HELMSMAN MANAGEMENT SERVICES LLC
9.7.1. Company overview
9.7.2. Company snapshot
9.7.3. Product portfolio
9.7.4. Key strategic moves and developments
9.8. MERITAIN HEALTH
9.8.1. Company overview
9.8.2. Company snapshot
9.8.3. Product portfolio
9.9. SEDGWICK
9.9.1. Company overview
9.9.2. Company snapshot
9.9.3. Product portfolio
9.9.4. Key strategic moves and developments
9.10. UNITED HEALTHCARE SERVICES, INC.
9.10.1. Company overview
9.10.2. Product portfolio
9.10.3. Company snapshot
9.10.4. Business performance
For more information about this report visit https://www.researchandmarkets.com/r/lj6prx
