Dallas, May 25, 2021 (GLOBE NEWSWIRE): Companies hire external administrators (TPAs) to manage their claims management. Many medium-sized suppliers and companies have to use TPAs to insure a portion of their liability, workers ’compensation risks, and commercial property. They can also handle claims for companies that have self-funded their dental, cardiovascular, or other incentive programs. While the TPA health insurance industry has a number of growth factors, such as expanding the scope of services and outsourcing providers, it also faces a number of imminent challenges that limit growth opportunities. . Unlike use cases introduced by insurance BPOs or IT companies, most of the digitally directed use cases deployed by TPAs so far are low on the difficulty scale.
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Some of the TPAs are developing the technology, experience, and data skills needed to meet the changing needs of the insurance industry, but most TPAs are lagging behind. For most TPAs in the United States, year-over-year sales growth has slowed. Given the pandemic situation, this decline could also continue this year. The ongoing outbreak of COVID-19 (coronavirus) is expected to drastically reduce employer-sponsored insurance coverage.
Market breakdown by third party health insurance administrators by manufacturers (2021-2027):
York Risk Services Group Inc.
Vidal Health TPA
Sedgwick Ltd. Claims Management Services
Gallagher Bassett Services Inc.
Market segment Third party administrator Market segment by type
Critical illness insurance
Market segment Third party insurance administrator Market segment for users / application
Under 20 years
More than 60 years
High competition is the main negative influence affecting this sector in the United States, although low sales rotation is the main positive factor. If discretionary income increases between 2015 and 2019, households will be able to buy homes, vehicles and other properties that need insurance. Individuals and families with higher discretionary per capita incomes can pay higher health, home, life, and accident insurance rates, allowing them to expand coverage.
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Third-party managers are well known in the healthcare industry and have the skills and resources to manage more or part of the claims process. Mandatory legislation on health care was implemented in the Gulf Cooperation Council. By 2017, Abu Dhabi and Dubai had fully implemented universal health benefits. TPA funding is becoming increasingly popular among small insurers in the CCG (Gulf Cooperation Council).
Smaller insurance providers have a convenient way of doing business and TPAs fill in the gaps by providing the resources needed to digitize according to DHA guidelines. APTs are used by almost every health insurer in the region. Seven companies dominate most of the market in Dubai’s 23 TPAs, accounting for approximately 90% of the total.
Table of Contents
1.1 Objective of the study
1.2 Definition of the market
1.3 Market scope
1.3.1 Market segment by type, application and marketing channel
1.3.2 Main regions covered (North America, Europe, Asia Pacific, Middle East and Africa)
1.4 years considered for the study (2015-2027)
1.5 Currency considered (US dollar)
1.6 Interested parties
2 Main conclusions of the study
3 Market dynamics
3.1 Factors driving this market
3.2 Factors that challenge the market
3.3 Global market opportunities for third party health insurance managers (regions, growing / emerging market analysis)
3.4 Technological and market developments in the third-party health insurance administration market
3.5 Industry news by region
3.6 Regulatory scenario by region / country
3.7 Analysis of strategic recommendations of market investment scenarios
4 Value chain of the third-party health insurance administrator market
4.1 Value chain status
4.2 Analysis of raw materials upstream
4.3 Analysis of main medium-flow companies (by manufacturing base, by product type)
4.4 Distributors / traders
4.5 Analysis of top down customers (by region)
5 Market segmentation of third-party global health insurance administrators by type
5.1 Medical insurance
5.2 Critical illness insurance
6 Market segmentation of third party global health insurance administrators by application
6.1 Under 20 years
6.2 20-40 years
6.3 40-60 years
6.4 Over 60 years
7 Market segmentation of third-party global health insurance managers by marketing channel
7.1 Traditional marketing channel (offline)
7.2 Online channel …… .. Continued
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