The recession caused steep declines in demand for services from nearly all segments of the industry's customer base. As a result of low underlying business activity, high unemployment and volatile financial markets, claim submissions from primary insurers decreased. Significant drops in insurance and employee-benefit funds' assets resulted in a reduction in industry fees and a sizable portion of revenue. However, in the five years to 2019, expansion and regulation in downstream insurance and employee-benefit fund markets will increase outsourcing to the Third-Party Administrators and Insurance Claims Adjusters industry, driving revenue growth.
Operators in this industry investigate, appraise and settle insurance claims; provide third-party administration services of insurance and pension funds; and offer insurance advisory and ratemaking services. This industry does not include companies that primarily provide portfolio management services, sell insurance policies or offer actuarial consulting services.
The report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecast, growth rates and an analysis of the industry key players and their market shares.