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Claims Filing, Administration & Processing Industry Overview

360° Industry Information

Industry Description

Companies that provide services and technology related to filing, processing, and administering insurance claims and policies.

Full Claims Filing, Administration & Processing Industry Description

Industry Trends

Fewer Life Insurance Agents

The number of life insurance agents is quickly diminishing in the US, partly due to stagnant new premium revenue. The Bureau of Labor Statistics predicts that by 2010 the number of life insurance agents will have dropped 30 percent from the 2000 level.

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Industry Competitors

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Industry Codes

Hoover's has developed its own industry classifications to better serve its customers. These classifications are mapped to the North American Industry Classification System (NAICS) and the older U.S. Standard Industrial Classification (SIC) system. The Claims Filing, Administration & Processing maps to a number of NAICS codes including:

NAICS

NAICS Title

524292

Third Party Administration of Insurance and Pension Funds

524298

All Other Insurance Related Activities

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Industry Associations & Organizations

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Related Industries

Transaction, Credit & Collections

Industry Financials

Using the 2002 Census Bureau Economic Census, Hoover's has generated an industry financial summary for the Claims Filing, Administration & Processing industry.

Indicator

Total

NAICS Codes

Establishments

12,194

Sales, receipts or shipments ($1,000)

$25,836,590

Annual Payroll ($1,000)

$8,857,508

Paid Employees

200,314

Full Claims Filing, Administration & Processing Industry Financials