Middle East & Africa Insurance Third-Party Administrator Market Forecast to 2031 - Regional Analysis - by Insurance Type (Healthcare, Retirement Plans, Commercial General Liability Insurers, and Other Insurance Types) and End User (Large Enterprises and SMEs)

The Middle East & Africa insurance third-party administrator market was valued at US$ 10.31 billion in 2023 and is expected to reach US$ 18.14 billion by 2031; it is estimated to record a CAGR of 7.3% from 2023 to 2031.

Digital Third-Party Administrators Bolster Middle East & Africa Insurance Third-Party Administrator Market

Digital third-party administrators are transforming the insurance third-party administrator business by harnessing the capabilities of AI and machine learning, which can allow the scanning of massive volumes of data to detect fraudulent claims and predict future hazards. The advanced data management capabilities lower costs for insurers and allow them to make more educated underwriting and risk management decisions. Digital third-party administrators provide self-service portals for policyholders to file claims, track their progress, and access policy papers. This promotes transparency and convenience, resulting in a more positive consumer experience. In October 2023, LIDP partnered with Sutherland, a global digital-first business process as a service (BPaaS) provider, to introduce innovative, comprehensive solutions. Digital tools and AI drive middle-office and back-office digitization customer experience (CX) and provide more precise insights into insurance carrier businesses. Their unique approach empowers carriers to fast-track life insurance and annuity product launches, enhance distribution, and improve customer experience. In September 2021, Xceedance (an insurance consultancy firm) introduced a new digital claims third-party administrator with enhanced and intelligent automation. The new solution offers full-service claims operation services to global insurers with the goal of closing claims faster and providing more visibility into claim handling and status. The new third-party administrator takes advantage of Xceedance's broad range of insurance, technical, and operational capabilities. Thus, the digital third-party administrator is setting a new trend in the insurance third-party administrator market.

Middle East & Africa Insurance Third-Party Administrator Market Overview

The insurance companies in the country partner with top-class TPAs to deliver high-quality, consistent services and process related to voluminous health insurance claims. In September 2022, Dubai National Insurance (DNI), one of the leading insurance companies in the UAE, tied up with Al Madallah Healthcare Management, one of the fastest-growing TPA in the country, offering innovative medical claims management services. Through the agreement, Al Madallah administers DNI health insurance plans as a TPA, and the partnership reinforces both entities' commitment to providing superior customer service. Thus, focusing on serving the extensive customer base more effectively, the insurance companies approach TPAs, which fosters the UAE insurance third-party administrator market growth.

Middle East & Africa Insurance Third-Party Administrator Market Segmentation

The Middle East & Africa insurance third-party administrator market is segmented based on insurance type, end users, and country. Based on insurance type, the Middle East & Africa insurance third-party administrator market is segmented into healthcare, retirement plans, commercial general liability insurers, and other insurance types. The healthcare segment held the largest market share in 2023.

In terms of end users, the Middle East & Africa insurance third-party administrator market is bifurcated into large enterprises and SMEs. The large enterprises segment held a larger market share in 2023.

Based on country, the Middle East & Africa insurance third-party administrator market is segmented into Saudi Arabia, the UAE, South Africa, and the Rest of Middle East & Africa. The UAE dominated the Middle East & Africa insurance third-party administrator market share in 2023.

Crawford and Company; Charles Taylor Limited; ExlService Holdings, Inc; Arthur J Gallagher & Co; and Chubb Ltd are some of the leading players operating in the Middle East & Africa insurance third-party administrator market.

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