Claims, Funds Administration & Other Insurance Services

U.S. Industry Report

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Industry Code: 52429, Jul 17 2008, 60 pages
About IBISWorld Industry Reports
Accidental growth
This industry has performed well due to increased downstream demand for third party administrative services and more recently, increased demand for actuarial, consulting and advisory services. Advisory, actuarial services and risk assessment will remain in high demand as managing capital, ceding risk and assessing risks remain of key importance to key target markets, particularly direct insurers and reinsurers. Offsetting this will be some weakness in claims adjustment and assessment.
In-depth industry market research presented in a logical and consistent format. Including 60 pages of insights covering industry conditions, key statistics, competitor analysis and market share, product and customer segmentation and a 5 year forecast.

Key Competitors in this Industry
Major Player
Market Share
Marsh and McLennan Companies, Inc
XX.XX
Aon Corporation
XX.XX
ChoicePoint Inc.
XX.XX
Willis Group Holdings Limited
XX.XX
Products & Services

Product/Services
Share
Health and Welfare funds third party administration
XX%
Claims adjustment and appraisal
XX%
Other insurance-related activities
XX%
Workers' compensation funds third party administration
XX%
Pension fund third party administration
XX%
Self-insurance fund third party administration
XX%
Insurance consultation
XX%

Key Industry Statistics
Key Industry Figures
2007
2008

Industry Revenue
*40,549.3
XXXX
$Mil
Revenue Growth
*1.6
XXXX
%
Industry Gross Product
*18,540.4
XXXX
$Mil
Number of Establishments
*140,715
XXXX
Units
Number of Enterprises
*137,354
XXXX
Units
Employment
*338,004
XXXX
Units
Exports
--
XXXX
Imports
--
XXXX
Total Wages
*14,526
XXXX
$Mil
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DEFINITIONThis industry involves establishments that primarily provide services related to insurance (except insurance agencies and brokerages). Industry participants provide a number of services on both a commission and fee basis. These services include, third-party insurance fund administration; claims processing; insurance advisory on coverage and loss prevention; insurance rate making; and reporting services.
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RELATED REPORTS
Similar Industries

Portfolio Management

Insurance Brokers & Agencies

Pension Funds
Up & Down Stream Sectors

Life & Other Direct Insurance Carriers

Auto & Other Direct Insurance Carriers

Life & Other Direct Insurance Carriers

Auto & Other Direct Insurance Carriers
Risk Rating of This Industry

Claims, Funds Administration & Other Insurance Services
Companies In This Industry

Marsh & McLennan Companies, Incorporated

Aon Corporation

Willis Group Holdings Limited

More
Factors Affecting This Industry

Dow Jones Industrial Average

Interest Rates - 10-Year Bond Rate

Real GDP Growth
International Reports

Life Insurance Carriers in China

Superannuation Funds Management in Australia
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SEGMENTSThe major products and services covered in this market research report are:
Health and Welfare funds third party administration
Claims adjustment and appraisal
Other insurance-related activities
Workers' compensation funds third party administration
Pension fund third party administration
Self-insurance fund third party administration
Insurance consultation
ACTIVITIESThe primary activities of companies in this industry are:
Investigation, appraisal, and settlement of claims.
Third-party claims processing.
Third-party insurance and pension fund administration.
Insurance advisory services.
Insurance coverage consulting services.
Insurance investigation services (other than claims related).
Insurance loss prevention services.
Insurance rate making services.
Insurance reporting services.
Insurance underwriters laboratories and standards services.
Medical cost evaluation services.
Pension fund, third party administration.
Employee benefit plans, third party administrative processing services.
Actuaries and actuarial services.
Insurance exchanges.
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TABLE OF CONTENTS
Industry Definition

3
ACTIVITIES (PRODUCTS AND SERVICES)

SIMILAR INDUSTRIES

DEMAND & SUPPLY INDUSTRIES


Key Statistics

5
INFLATION ADJUSTED (CONSTANT) PRICES

REAL GROWTH

RATIO TABLE

GRAPHS


Segmentation

7
PRODUCTS AND SERVICE SEGMENTATION

MAJOR MARKET SEGMENTS

INDUSTRY CONCENTRATION

GEOGRAPHIC SPREAD


Market Characteristics

13
MARKET SIZE

LINKAGES

DEMAND DETERMINANTS

DOMESTIC AND INTERNATIONAL MARKETS

BASIS OF COMPETITION

LIFE CYCLE



Industry Conditions

21
BARRIERS TO ENTRY

TAXATION

INDUSTRY ASSISTANCE

REGULATION AND DEREGULATION

COST STRUCTURE

CAPITAL AND LABOR INTENSITY

TECHNOLOGY AND SYSTEMS

INDUSTRY VOLATILITY

GLOBALIZATION


Key Factors

28
KEY SENSITIVITIES

KEY SUCCESS FACTORS


Key Competitors

30
MAJOR PLAYERS

PLAYER PERFORMANCE

OTHER PLAYERS


Industry Performance

46
CURRENT PERFORMANCE

HISTORICAL PERFORMANCE


Outlook

56

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REPORT CONTENTS
Key Statistics
"How big is this industry?" The heart of our industry profile, this chapter provides key market data on industry trends over the past five years, reflecting overall size and health. The market statistics include industry revenue, industry gross product, industry employment, number of establishments, number of enterprises, export revenue, export share of total industry revenue, import share of domestic demand, total cost of industry wages, industry growth, and a growth trend or decline trend. The uniform nature of the IBISWorld industry report collection allows for both a basic understanding of industry size, as well as in-depth market analysis of all industries within the US economy.
Segmentation
"What is this industry comprised of?" The market segmentation chapter of the market report breaks down the makeup of this industry from different angles, including:
The Products and Service Segmentation section highlights the top products and services by industry share, demonstrating their influence over total industry revenue, as well as providing market share on all the niche businesses that operate within this industry.
The Major Market Segments section details the industry share of key customer (or downstream industries) and/or groups as well as giving an indication as to which of these are the most important to the industry.
The Industry Concentration section provides an indicator of market power by showing the industry share of the top four companies. The degree of monopolization or fragmentation of an industry.
Finally, The Geographic Concentration section is sorted by “region” (South East, Far West, South West, Great Lakes, Mid East, New England, Plains, and Rocky Mountains.), and illustrates where the majority of enterprises are located, while profiling major establishments and concentrations.
Market Characteristics
"What's the market like?" This chapter of the report explains the behavior and attributes of “The Market”, or customer base for this industry. It provides data trends, market statistics, and industry analysis for:
Market Size explains the size of the domestic market, as well as the size of the export market.
Linkages lists the industry's major supplier and major customer industries.
Demand Determinants are key factors which are likely to cause demand to rise or fall.
Domestic and International Markets defines the market size for the products and services of the industry. This section provides industry information on the size of the domestic market and the proportion accounted for by imports and exports and trends in the levels of imports and exports.
Basis of Competition outlines how competitors differentiate themselves within the industry as well as highlighting competition from external substitute products from alternative industries.
Life Cycle is an analysis of which stage of development the industry is at derived by analyzing by growth trends, innovation, ownership characteristics and rate of change within the industry.
Industry Conditions
"What's happening in this Industry?" This chapter of the report explains the general operating environment, and includes the following industry research:
The Barriers to Entry section outlines factors that can prevent a start-up from entering the industry, and also gives an indication of the extent to which this occurs.
The Taxation section details all kinds of taxation that are specific, or particularly important to this industry, including taxation concessions.
The Industry Assistance section refers to any government or other measures designed to improve the performance of this industry. The indicator trends of this assistance are noted.
The Regulation and Deregulation section has industry information regarding regulation and/or deregulation to this industry.
The Cost Structure section details a table together with analysis of the average major costs for a company operating in this industry as a percentage of total revenue. (eg; rent, materials, depreciation, purchases, wages, utilities, advertising, interest). Industry profits for the average company in the industry are also shown.
Capital and Labor Intensity section provides a guide to the amount of capital used in production/providing a service compared to the amount of labor in the total mix of inputs.
The Technology and Systems section acknowledges the latest technology and/or systems available to this industry within the country. Technology refers to machinery and equipment and systems refers to methods of production that enable better and more efficient production.
The Industry Volatility section refers to the frequency and magnitude of year on year fluctuations which occur in industry output or revenue.
The Globalization section gives an indication to the extent to which the industry size is global based. Based on factors such as the level of foreign ownership, the proportion of demand accounted for by foreign operators and the volume of production conducted in other countries.
Key Factors
"What's most important?" This chapter of the report identifies what drives change and ensures success for a business within a dynamic market.
The Key Sensitivities section identifies the external drivers of change. These are the key factors that are outside the control of an operator in the industry, but are likely to have significant impact on a business.
The Key Success Factors section details the factors within the control of an industry operator and which should be followed in order to be successful in the industry.
Key Competitors
"Who are the major players?" This chapter of the report profiles the major players who operate within this industry. Generally the top 5 companies are profiled (including public and private businesses). Market share is included whenever possible, as well as financial data. Competitive analysis of each player provides a solid understanding of strategic position, and market share.
Industry Performance
"How has this industry been performing?" This chapter of the report features up-to-date, high level industry analysis, based upon the statistics trends present in all previous chapters. It is divided into 2 parts; Historic Performance, and Current Performance.
The Current Performance section provides research analysis on performance trends over the most recent five years, with key indicators discussed. For example, financial trends, product trends, production volume, external events and internal trends that cause change.
The Historical Performance section of the market report details previously important events in the development of the industry.
This industry research provides the foundation upon which the forecast trend in the outlook chapter may be viewed, and better understood.
Outlook
"Where is this industry headed?" Home of our 5 year industry forecast, the final chapter of our industry report contains industry analysis over the next five years. Drawing on supporting evidence introduced throughout the industry report, our industry forecast encompasses market trends for those factors internal and external to the industry, and may forecast trends for the following: Industry trends, Market trends, Company trends, Product trends, Supply trends, Services trends, Statistics trends, Data trends, Performance trends, Growth trends, Size trends, Financial trends, Cost trends, and any other major industry indicators where appropriate.