Global Insurance Third Party Administrators Market 2024-2028
The insurance third party administrators market is forecasted to grow by USD 119 billion during 2023-2028, accelerating at a CAGR of 6.79% during the forecast period. The report on the insurance third party administrators market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by rising demand for specialized services in insurance industry, growing complexity of insurance regulations, and regulatory compliance requirements in the insurance industry.
Technavio's insurance third party administrators market is segmented as below:
By Service Type
- Health plan administrators
- Workers compensation TPA
- Third party claims administration
By Type
- Large enterprises
- Small and medium enterprise
By Geographical Landscape
- North America
- APAC
- Europe
- Middle East and Africa
- South America
This study identifies the technological advancements in insurance tpas as one of the prime reasons driving the insurance third party administrators market growth during the next few years. Also, integration of multichannel communication in insurance tpas and rising mergers and acquisitions among vendors of insurance tpas will lead to sizable demand in the market.
The report on the insurance third party administrators market covers the following areas:
- Insurance third party administrators market sizing
- Insurance third party administrators market forecast
- Insurance third party administrators market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading insurance third party administrators market vendors that include Accenture Plc, Alankit Ltd, Arthur J. Gallagher and Co., Charles Taylor Ltd., Chubb Ltd., Cognizant Technology Solutions Corp., Corvel Corp, Crawford and Co, CVS Health Corp., ExlService Holdings Inc., Family Health Plan Insurance TPA Ltd, GOOD HEALTH INSURANCE TPA LTD, Liberty Mutual Insurance Co., Majesco, Marsh and McLennan Companies Inc., Medi Assist Healthcare Services Pvt Ltd, Paramount Health Services and Insurance TPA Pvt. Ltd., Safeway Insurance TPA Pvt Ltd., Sedgwick, United Health Group Inc., and WNS Holdings Ltd.. Also, the insurance third party administrators market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.