Sedgwick Claims Management Services Inc. is the largest third-party administrator (TPA).
Who is the Largest Third Party Administrator?
The largest third-party administrator by revenue is Sedgwick Claims Management Services Inc.
Third-party administrators (TPAs) play a crucial role in managing specific aspects of employee benefits programs, insurance claims, and other administrative tasks for businesses. They often handle claims processing, benefits administration, and risk management services, allowing companies to focus on their core operations.
According to recent data, the top TPAs are ranked by their annual revenue. Sedgwick leads the industry with substantial revenue, indicating its extensive market presence and the volume of services it provides.
Here's a look at some of the largest third-party administrators based on their reported revenue:
| Rank | Company | Revenue (millions $) |
|---|---|---|
| 1 | Sedgwick Claims Management Services Inc. | 4,327 |
| 2 | UMR Inc. | 1,540 |
| 3 | Gallagher Bassett Services Inc. | 1,222 |
This information is based on data compiled from leading financial reports concerning third-party administrator companies. For more detailed insights into the largest players in the TPA market, you can refer to comprehensive industry analyses.
