Market Overview:
The global insurance third party administrators (TPA) market is expected to grow at a CAGR of 7.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for TPA services from healthcare providers, commercial general liability insurers, and other end-users. In addition, the growing awareness about the benefits of using TPA services is also contributing to the growth of this market. Based on type, the global insurance TPA market can be segmented into healthcare providers, commercial general liability insurers, and others. The healthcare providers segment is expected to account for a major share of the global insurance TPA market in 2018. This segment is projected to grow at a CAGR of 8% during the forecast period from 2018 to 2030 due to rising demand for TPAs from hospitals and other healthcare service providers worldwide. Based on application,the global insurance TPA market can be divided into patient care applications, old man care applications,,and others applications segments .
Product Definition:
Insurance Third Party Administrators (TPA) are organizations that provide administrative and other support services to insurance companies, self-insured employers, and health maintenance organizations. Their services may include claims processing, billing, customer service, actuarial analysis, and underwriting.
Healthcare Providers:
Healthcare providers is a service organization that provides medical and health-related services. They can be categorized into hospitals, clinics, home healthcare agencies, etc. Healthcare third party administrators (HTA) are organizations that provide insurance coverage for the provider’s bills or reimbursements.
The major factor driving the growth of this market is increasing demand for value-based care in developed economies.
Commercial General Liability:
Commercial general liability insurance is a form of umbrella policy that provides protection against various types of liabilities. It also covers some additional risks such as advertising and publication, errors & omissions, contract cancellation & breach, loss of third party property and others. Umbrella policies are designed to provide multiple coverages in a single premium payment with no reduction in coverage.
Application Insights:
The other application segment includes employee benefits, life and health insurance, asset management and others. The life and health insurance segment is expected to witness significant growth over the forecast period owing to the increasing number of old-age population across the world. The patient application segment is also estimated to witness considerable growth over the forecast period as GICs are increasingly adopting TPA services for various healthcare needs including medical evacuation, overseas emergency medical repatriation, urgent care clinics at airports etc.
Insurers are focusing on enhancing their customer service delivery channels in order to retain existing customers while attracting new ones.
Regional Analysis:
North America dominated the global market in 2017. The presence of a large number of insurance companies and favorable government initiatives are some factors driving the regional market growth. For instance, in 2014, Medicare introduced the Part B premium payment adjustment to ensure that providers receive proper compensation for providing services to Medicare patients.
Asia Pacific is expected to be one of the fastest-growing regions over the forecast period owing to increasing demand from developing countries such as India and China. In addition, rising healthcare expenditure by governments is anticipated to fuel industry expansion over this region during the forecast period also known as 2018 To 2030 forecast period.
The Asia Pacific was estimated at USD X million in 2017.
Growth Factors:
- Increasing demand for insurance products and services
- Rising awareness about the benefits of TPA services
- Rapid growth in the number of small and medium-sized businesses
- Growing demand for outsourcing services
- Proliferation of new technologies
Scope Of The Report
Report Attributes
Report Details
Report Title
Insurance Third Party Administrators Market Research Report
By Type
Healthcare Providers, Commercial General Liability, Others
By Application
Patient, Old man, Other
By Companies
Sedgwick Claims Management Services Inc, UMR Inc, Crawford & Company, Gallagher Bassett Services Inc, York Risk Services Group Inc, Maritain Health
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
191
Number of Tables & Figures
134
Customization Available
Yes, the report can be customized as per your need.
Global Insurance Third Party Administrators Market Report Segments:
The global Insurance Third Party Administrators market is segmented on the basis of:
Types
Healthcare Providers, Commercial General Liability, Others
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Patient, Old man, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Sedgwick Claims Management Services Inc
- UMR Inc
- Crawford & Company
- Gallagher Bassett Services Inc
- York Risk Services Group Inc
- Maritain Health
Highlights of The Insurance Third Party Administrators Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Healthcare Providers
- Commercial General Liability
- Others
- By Application:
- Patient
- Old man
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Insurance Third Party Administrators Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Insurance Third Party Administrators (ITPA) are companies that provide administrative and technical support to insurance companies. They help insurers with everything from claims processing to data management.
Some of the major players in the insurance third party administrators market are Sedgwick Claims Management Services Inc, UMR Inc, Crawford & Company, Gallagher Bassett Services Inc, York Risk Services Group Inc, Maritain Health.
The insurance third party administrators market is expected to register a CAGR of 7.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Insurance Third Party Administrators Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Insurance Third Party Administrators Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Insurance Third Party Administrators Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Insurance Third Party Administrators Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Insurance Third Party Administrators Market Size & Forecast, 2020-2028 4.5.1 Insurance Third Party Administrators Market Size and Y-o-Y Growth 4.5.2 Insurance Third Party Administrators Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Healthcare Providers
5.2.2 Commercial General Liability
5.2.3 Others
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Patient
6.2.2 Old man
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Insurance Third Party Administrators Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Insurance Third Party Administrators Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Healthcare Providers
9.6.2 Commercial General Liability
9.6.3 Others
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Patient
9.10.2 Old man
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Healthcare Providers
10.6.2 Commercial General Liability
10.6.3 Others
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Patient
10.10.2 Old man
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Healthcare Providers
11.6.2 Commercial General Liability
11.6.3 Others
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Patient
11.10.2 Old man
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Healthcare Providers
12.6.2 Commercial General Liability
12.6.3 Others
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Patient
12.10.2 Old man
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Healthcare Providers
13.6.2 Commercial General Liability
13.6.3 Others
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Patient
13.10.2 Old man
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Insurance Third Party Administrators Market: Competitive Dashboard
14.2 Global Insurance Third Party Administrators Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Sedgwick Claims Management Services Inc
14.3.2 UMR Inc
14.3.3 Crawford & Company
14.3.4 Gallagher Bassett Services Inc
14.3.5 York Risk Services Group Inc
14.3.6 Maritain Health