Third-Party Administrators & Insurance Claims Adjusters in the US - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

Claiming victory: Growth in demand for health-related services has boosted industry performance

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 have increasingly relied on these services to cut operating costs and improve efficiency. Success in the industry is contingent on various factors including professional experience, positive track record, cost effectiveness and compliance. Since third-party administrators operate as an ancillary service to insurance providers, industry trends fall in line with the broader finance and insurance sector. Overall, industry revenue is expected to increase an annualized 3.9% to $274.2 billion over the five years to 2022. While increases in operational costs have dampened industry profit, strong revenue over the same time has tempered these declines.

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.

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.