US Insurance Third Party Administrator Market is estimated to be USD 60.16 Bn in 2023 and is expected to reach USD 81.35 Bn by 2028, growing at a CAGR of 6.22%.Technology will play a major role in the growth and expansion of the 3PL industry
Market Dynamics
Market dynamics are forces that impact the prices and behaviors of the stakeholders. These forces create pricing signals which result from the changes in the supply and demand curves for a given product or service. Forces of Market Dynamics may be related to macro-economic and micro-economic factors. There are dynamic market forces other than price, demand, and supply. Human emotions can also drive decisions, influence the market, and create price signals.As the market dynamics impact the supply and demand curves, decision-makers aim to determine the best way to use various financial tools to stem various strategies for speeding the growth and reducing the risks.
Market Segmentations
The US Insurance Third Party Administrator Market is segmented based on Service Type, Insurance Type, End-User. By Service Type, the market is classified into Claims Management, Policy Management, Commission Management, and Others.- By Insurance Type, the market is classified into Healthcare Providers, Retirement Plans, Commercial General Liability, and Other.
- By End-User, the market is classified into Life & Annuities Insurance, and P&C Insurance.
- By Geography, the market is classified into Americas, Europe, Middle-East & Africa and Asia-Pacific.
Company Profiles
The report provides a detailed analysis of the competitors in the market. It covers the financial performance analysis for the publicly listed companies in the market. The report also offers detailed information on the companies' recent development and competitive scenario. Some of the companies covered in this report are American International Group, Inc, Cannon Capital Group, Northern Trust Corp. etc.Competitive Quadrant
The report includes a Competitive Quadrant, a proprietary tool to analyze and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.Ansoff Analysis
The report presents a detailed Ansoff matrix analysis for the US Insurance Third Party Administrator Market. Ansoff Matrix, also known as Product/Market Expansion Grid, is a strategic tool used to design strategies for the growth of the company. The matrix can be used to evaluate approaches in four strategies viz. Market Development, Market Penetration, Product Development and Diversification. The matrix is also used for risk analysis to understand the risk involved with each approach.This Research analyses the US Insurance Third Party Administrator Market using the Ansoff Matrix to provide the best approaches a company can take to improve its market position.
Based on the SWOT analysis conducted on the industry and industry players, the US Research has devised suitable strategies for market growth.
Why buy this report?
- The report offers a comprehensive evaluation of the US Insurance Third Party Administrator Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
- The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
- The report includes an in-depth market analysis using Porter's 5 forces model, PESTLE Analysis, and the Ansoff Matrix. In addition, the impact of COVID-19 and impact of economic slowdown & impending recession on the market are also featured in the report.
- The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
- The report also contains the competitive analysis using Positioning Quadrants, the analyst's competitive positioning tool.
Report Highlights:
- A complete analysis of the market, including parent industry
- Important market dynamics and trends
- Market segmentation
- Historical, current, and projected size of the market based on value and volume
- Market shares and strategies of key players
- Recommendations to companies for strengthening their foothold in the market
Table of Contents
1 Report Description1.1 Study Objectives
1.2 Market Definition
1.3 Currency
1.4 Years Considered
1.5 Language
1.6 Key Stakeholders
2 Research Methodology
2.1 Research Process
2.2 Data Collection and Validation
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Models
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Assumptions of the Study
2.5 Limitations of the Study
3 Executive Summary
3.1 Introduction
3.2 Market Size, Segmentations and Outlook
4 Market Dynamics
4.1 Drivers
4.1.1 Surge in Adoption of Third-Party Administrators
4.1.2 Rise in Need For Operational Efficiency & Transparency in Insurance Business Process
4.2 Restraints
4.2.1 Complex Governing Rules
4.3 Opportunities
4.3.1 Advancements in Technologies
4.3.2 Demand for Customized Trade Services
4.4 Challenges
4.4.1 Fraud and Cyber Attacks Concerns
5 Market Analysis
5.1 Regulatory Scenario
5.2 Porter's Five Forces Analysis
5.3 PESTLE Analysis
5.4 SWOT Analysis
5.5 Impact of COVID-19
5.6 Impact of Economic Slowdown & Impending Recession
5.7 Ansoff Matrix Analysis
6 US’ Insurance Third Party Administrator Market, By Service Type
6.1 Introduction
6.2 Claims Management
6.3 Policy Management
6.4 Commission Management
6.5 Others
7 US’ Insurance Third Party Administrator Market, By Insurance Type
7.1 Introduction
7.2 Healthcare Providers
7.3 Retirement Plans
7.4 Commercial General Liability
7.5 Other
8 US’ Insurance Third Party Administrator Market, By End-User
8.1 Introduction
8.2 Life & Annuities Insurance
8.3 P&C Insurance
9 Competitive Landscape
9.1 Competitive Quadrant
9.2 Market Share Analysis
9.3 Strategic Initiatives
9.3.1 M&A and Investments
9.3.2 Partnerships and Collaborations
9.3.3 Product Developments and Improvements
10 Company Profiles
10.1 American International Group, Inc.
10.2 Cannon Cochran Management Services, Inc.
10.3 Capital Group
10.4 Charles Taylor General Agency, Inc.
10.5 Crawford & Company
10.6 East West Assist Insurance TPA Pvt. Ltd.
10.7 Ericson Insurance TPA Pvt. Ltd.
10.8 Exlservice Holdings, Inc.
10.9 Gallagher Bassett Services, Inc.
10.10 Healthscope Benefits, Inc.
10.11 HSBC Securities Services
10.12 Meritain Health
10.13 Northern Trust Corp.
10.14 Sedgwick Claims Management Services, Inc.
10.15 UMR, Inc.
10.16 United Healthcare Services, Inc.
11 Appendix
11.1 Questionnaire
Companies Mentioned
- American International Group, Inc.
- Cannon Cochran Management Services, Inc.
- Capital Group
- Charles Taylor General Agency, Inc.
- Crawford & Company
- East West Assist Insurance TPA Pvt. Ltd.
- Ericson Insurance TPA Pvt. Ltd.
- Exlservice Holdings, Inc.
- Gallagher Bassett Services, Inc.
- Healthscope Benefits, Inc.
- HSBC Securities Services
- Meritain Health
- Northern Trust Corp.
- Sedgwick Claims Management Services, Inc.
- UMR, Inc.
- United Healthcare Services, Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 131 |
| Published | January 2023 |
| Forecast Period | 2023 - 2028 |
| Estimated Market Value ( USD | $ 60.16 Billion |
| Forecasted Market Value ( USD | $ 81.35 Billion |
| Compound Annual Growth Rate | 6.2% |
| Regions Covered | United States |
| No. of Companies Mentioned | 16 |
