Market Size Research - Claims Adjusters/Firms

Goals

To understand the market for insurance claims adjusters to inform a business pitch. The current objective is to identify the number of employees, the number of insurance adjusters, the number of claims processed yearly, and the applicable revenue for the top four leaders (Pilot Catastrophe Services, Eberl Claims Service, E. A. Renfroe, and Worley).

Early Findings

  • The data points gathered in this initial hour of research are available here.
  • Pilot Catastrophe Service has been in the industry for 31 years. The company’s adjusters have access to professional development, a compliance department, training, and technical support, as well as benefits. They can get in place and on the job within 24 to 36 hours.
  • Eberl Claims Service’s insurance adjusters currently work in 34 states. Eberl offers Xactimate classes throughout the year to its adjusters at its training facility in Dallas, TX.
  • E. A. Renfroe & Company has been in operation since 1994. The company is based out of Birmingham, AL and reports providing a full range of claim handling and support services.
  • Worley Claims Services was founded in 1998 and in 2018 it acquired Audit Services, Inc. which was the company’s sixth acquisition since 2015. By 2019, the company made seven acquisitions.

Proposed next steps:

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The research team was able to obtain a few reliable third-party estimates and ranges for each of the top four firms’ employee numbers and revenue/sales. We can continue the research by looking to gather details about (a) the number of insurance adjusters and (b) the number of claims processed each year. Because each of the companies are privately held, deep-level financial details might be limited. However, we can make every attempt to locate primary and secondary sources of these remaining details and provide a detailed outline of where/how we researched the information should, after applying more time, those details continue to prove to be lacking.
The research team can also assist by locating industry-standard fee schedules for insurance claims processes. We recommend focusing on catastrophe claims unless otherwise noted.