Risk & Damage Evaluation in the UK - Industry Market Research Report

Damage control: A high demand for industry services is causing revenue to soar in 2022-23

The industry is an outsourced claim adjusting and processing service for insurers. It provides services to policyholders through independent third-party validation or the contesting of evaluations made by assessors employed by the insurers underwriting the policy. Demand for risk and damage evaluation closely follows trends in the level of outsourcing insurers choose to undertake, insurance coverage and the frequency of insured risks. These have all performed strongly in recent years in line with the general insurance industry. So, revenue is projected to swell at a compound annual rate of 2.9% over the five years through 2022-23 to £2.1 billion. The industry provides insurance administration services, assessing insurance claims made by policyholders and settling claims. 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.