Competition, regulation, and demands to scale digitally are among the pressures rapidly altering the business of third-party benefits administrators; new Aite-Novarica Group report summarizes 30 interviews with executives in Q2 and Q3 2021
Boston, MA (Sept. 21, 2021) – As the COVID-19 pandemic waxes and wanes, third-party benefits administrators (TPAs) are tasked to provide compelling benefits in the midst of consolidation, competition, regulation, differentiation challenges, fee pressures, and demands to scale digitally. In a new impact report, Third-Party Administrators Market Outlook , research and advisory firm Aite-Novarica Group provides an overview of the U.S. third-party benefits administration market, based on 30 interviews with executives active in third-party benefits administration, technology recordkeepers, and health plan and benefits brokers, in Q2 and Q3 2021.
“Third-party benefits administrators have not thought of themselves as analytics shops,” said Inci Kaya, Strategic Advisor at Aite-Novarica Group and lead author of the new report. “but those with a clear vision for the future are already exploring ways to use analytics to augment their capabilities. TPAs should increase emphasis and investment in automation, consumer engagement efforts, analytics, efficiency, and integration.”
This report provides an overview of the U.S. third-party benefits administration market, based on 30 interviews with executives active in third-party benefits administration, technology record-keepers, and health plan and benefits brokers, in Q2 and Q3 2021.
This 31-page report contains five figures and five tables. Clients of Aite-Novarica Group’s Healthcare Payments service can download this report.
Click here to access the report.
This report mentions Aetna, Alegeus, Anthem, Arthur J. Gallagher, The Ashley Group, Benefits Express, Benefit Resource, Benefit Strategies, CIGNA, Compass Benefit Advisors, ConnectYourCare, DataPath, Elevation Benefits, Empower, Fiduciary Plan Advisors, Fifth Third Bank, Financial Finesse, Further, Guardian, Healthcare Bank, HealthEquity, Koff & Associates, Mutual of Omaha, One Digital, Optum Financial, Resource Investment Advisors, Sentinel Benefits and Financial, SunLife, ThrivePass, TPA Stream, Trustmark, United Healthcare, VOYA Financial, and WEX Health.
About Aite-Novarica Group
Aite-Novarica Group is an advisory firm providing mission-critical insights on technology, regulations, markets, and operations to hundreds of banks, insurers, payments providers, and investment firms—as well as the technology and service providers that support them. Comprising former senior technology, strategy, and operations executives as well as experienced researchers and consultants, our experts provide actionable advice to our client base, leveraging deep insights developed via our extensive network of clients and other industry contacts. For more information, visit aite-novarica.com.
Source: Aite-Novarica GroupTags: Aite-Novarica Group, benefits, Cigna, coronavirus, epidemic, outlook / predictions, Sun Life