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Claims Adjusting in the US - Industry Market Research Report

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    Report

  • 48 Pages
  • September 2023
  • Region: United States
  • IBISWorld
  • ID: 5513472

Well-adjusted: The anticipated rise in the frequency and severity of natural disasters will boost industry demand

Claims Adjusting industry companies handle property claims involving damage to structures and liability claims involving personal injuries or third-person property damage. Insurance carriers and third-party claim-adjusting establishments have increasingly relied on these services to reduce 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 claims adjusters are an ancillary service to insurance providers, industry trends align with the broader finance and insurance sector. Overall, industry-wide revenue has been growing at an average annualized 1.5% over the past five years and is expected to total $11.2 billion in 2023, when payment will dip by an estimated 0.9%. However, industry profit has dwindled during the period.

This industry investigates insurance claims to determine the extent of the insuring company's liability. Claims adjusters may handle property claims involving damage to structures and liability claims involving personal injuries or third-person property damage.

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's key players and their market shares.


Table of Contents

ABOUT THIS INDUSTRY
  • Industry Definition
  • Main Activities
  • Similar Industries
  • Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
  • Executive Summary
  • Key External Drivers
  • Current Performance
  • Industry Outlook
  • Industry Life Cycle
PRODUCTS & MARKETS
  • Supply Chain
  • Products & Services
  • Demand Determinants
  • Major Markets
  • International Trade
  • Business Locations
COMPETITIVE LANDSCAPE
  • Market Share Concentration
  • Key Success Factors
  • Cost Structure Benchmarks
  • Basis of Competition
  • Barriers to Entry
  • Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
  • Capital Intensity
  • Technology & Systems
  • Revenue Volatility
  • Regulation & Policy
  • Industry Assistance
KEY STATISTICS
  • Industry Data
  • Annual Change
  • Key Ratios
JARGON & GLOSSARY

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Willis Towers Watson Plc
  • Aon Plc
  • State Farm Mutual Automobile Insurance Co
  • Carolina Adjusters LLC
  • Crawford & Company

Methodology

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