Market Size research - Claims Adjusters/Firms
To find the market size of independent claim adjusters, public claim adjusters, and independent adjusting firms in the US. The market size is to be expressed as an amount in dollars and as number of businesses. For each industry/market, the following parameters are to be found: number of adjusters, number of claims processd each year, dollar value of claims processed each year, the growth rate of the market/industry (specific to independent and public adjusters), 3 - 5 of the largest firms in the US and whether any of these companies are publicly traded (spcific to independent adjusting firms).
Largest Independent Adjusting Firms in the US
- According to 2021 Training, accredited trainers for insurance adjusters, four of the biggest independent adjusting firms in the US are Pilot Catastrophe Services, Inc., Eberl Claims Service, E. A. Renfroe, and Worley.
- State Farm and AllState Insurance are some of the main clients of Pilot Catastrophe Services, Inc.
US Claims Adjusting Market
- According to a BusinessWire report, the US claims adjusting industry had a sales (market size) of $8.6 billion, and from 2016 through 2019, the industry grew at an annual rate of 6.9%.
- As of 2018, there were about 3,560 companies in the industry, and the average sales per company was $2.1 million.
- The 2019 market size of the Third-Party Administrators & Insurance Claims Adjusters Industry in the US was $256 billion, with 137,944 businesses in the industry.
- From 2014 through 2019, the industry grew annually at a rate of 4.7%.
- According to a 2016 study by the Association of Claims Professionals (ACP), most large insurers had in-house adjusters and these accounted for about 70% of the population of adjusters captured by the study, while third-party adjusters accounted for 23% and regional adjusting firms, 7%.
- According to the 2016 study, on average, third party administrators adjusted claim volumes of 3,551,617 claims per year, and $45 billion dollars being adjusted per year per firm.
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