Claims Adjusting in the US - Industry Market Research Report

Claims Adjusting in the US - Industry Market Research Report

Claims Adjusting in the US

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 key players and their market shares.