UAE Health Insurance Third Party Administrator Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The UAE Health Insurance Third Party Administrator Market is segmented by geography (Dubai, Abu Dhabi, and Others).

Market Snapshot

uae health insurance third party administrator market size
Study Period: 2018-2027
Base Year: 2021
CAGR: <3 %
uae health insurance third party administrator companies

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Market Overview

Health insurance is one of the biggest industries in UAE. Health insurance is mandatory in UAE, if you live in Dubai or Abu Dhabi. The employers have to arrange health insurance coverage for their staff.

Health insurance premiums had gone up during the COVID-19 pandemic. This can be attributed to the fact that citizens had become more cautious about their health during the pandemic. This focus on health will remain in the coming years. The premiums are projected to further go higher during this year and next couple of years.

Third Party Administrators are the entities responsible for the processing of health insurance claims. They are the point of contact between the insurer and insured. They help develop a robust network of hospitals from where the policyholders can avail best quality treatment. TPAs try to list out top hospitals from where good and cashless service can be availed. They also help settle cashless and reimbursement claims.

With the compulsory medical insurance law, the market grew significantly. The public and private companies are willing to do business with TPAs. Abu Dhabi and Dubai contain majority of population in UAE. The mandatory insurance schemes in these emirates increase the need for TPAs.

Scope of the report

Third Party Administrators are the entities responsible for the processing of health insurance claims. TPAs facilitate the insurance claim settlement by administrating tasks such as dealing with documents and settling hospital bills. The UAE Health Insurance Third Party Administrator Market is segmented by geography (Dubai, Abu Dhabi, and Others).

By Geography
Dubai
Abu Dhabi
Others

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Key Market Trends

COVID-19 Pandemic Driving the Growth of Market

During the wake of COVID-19 pandemic, as people grew more and more cautious about their health the value of insurance premiums written by health insurance companies in the United Arab Emirates had gone up. Many health and life insurance companies increased the premiums on their insurance plans upto 20% compared to 2021. This trend is expected to continue in this year and next couple of years. The premium increase may continue to rise upto 40% in the coming years. Also, parallelly the health care costs have gone up. An 8-10% increase has been observed in medical costs compared to the base year. These facts show the increased demand for health insurance in the next couple of years starting from this year. The increased premiums show the increased chances of policyholders filing claims with insurer. COnsequently increasing the need for a TPA. This signifies the growth of the Health Insurance Third Party Administrator Market in UAE. As the number of insurers and insured increase which is exactly the case in UAE the demand for TPAs increase for the smooth management of insurance claims.

uae health insurance third party administrator market trends

Digitalization of the Insurance Sector

The pandemic has brought a significant shift in the consumer behaviour looking for health insurance. The customers are looking for more innovative, customized and convinient solutions. This will drive the insurance companies to either improve their own in-house technological experties or collaborate with the TPAs that are focusing on Insurtech. These insurtech TPAs provide an excellent customer experience. They do so by providing excellent pre-authorization, claims and cost management, pharmacy delivery and disease management. Already there has been a significant change in Per Capita Spending of the UAE population on the Health Insurance Third Party Administrators, which shows the growth of the market in the region. The significant change is due to the increased digitalization brought by the TPAs in the insurance sector.

uae health insurance third party administrator market growth

Competitive Landscape

There are about 21 players in the health insurance third party administrator market in UAE. Out of which some are homegrown companies liike Sehteq, Aafiya and Inayah. Others are international players operating in the UAE like Aetna International, MSH International and E care Internatonal. The UAE Health Insurance Third Party Administrator market in mostly fragmented with all of the companies have signifacnt market share.

Recent Developments

In November 2021, a third party administrator MedNet entered in partnership with Oman Insurance Company (OIC) along with four other regional insurers. This partnership was made to implement a new service Regional Insurance Medical Solutions (RIMS) launched by OIC. RIMS will give employees access to 13,000 medical providers.

In January 2021, NextCare a leading third party administrator in UAE has launched a tele-health service with Health at Hand one of middle- east's telehealth providers. Health at Hand has develop a software solution (SDK) to get its member access to a doctor through video consultion from anywhere in the world.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXCEUTIVE SUMMARY

  4. 4. MARKET INSIGHTS AND DYNAMICS

    1. 4.1 A Brief Overview on Middle East Healthcare Market

    2. 4.2 Insights of Health Insurance in UAE market

      1. 4.2.1 Insurance Statistics - Premiums, Claims, Loss Ratios and other key metrics on profitability of Insurance Industry

      2. 4.2.2 Key Insights On Public & Private Health Insurance Coverage

    3. 4.3 Insights on TPA model in UAE market

    4. 4.4 Current Structure of Claims Management and the Importance behind In-house Vs Outsourcing Claims Management

    5. 4.5 Business Models of TPA in Insurance Ecosystem

    6. 4.6 Industry Policies And Regulations Governing Insurance TPA Market in UAE

    7. 4.7 Insights on Various Types of Services Provided Under healthcare by TPAs in UAE (Claims management and other value added services)

    8. 4.8 Market Drivers

    9. 4.9 Market Restraints/Challenges

    10. 4.10 Porters Five Forces Analysis

      1. 4.10.1 Threat of New Entrants

      2. 4.10.2 Bargaining Power of Buyers/ Consumers

      3. 4.10.3 Bargaining Power of Suppliers

      4. 4.10.4 Threat of Substitute Products

      5. 4.10.5 Intensity of Competitive Rivalry

    11. 4.11 Impact of Covid-19 on the market

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Geography

      1. 5.1.1 Dubai

      2. 5.1.2 Abu Dhabi

      3. 5.1.3 Others

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Markt Concentration Overview (Market Shares and M&A Deals)

    2. 6.2 Company Profiles

      1. 6.2.1 Aetna Inc.

      2. 6.2.2 MEDNET

      3. 6.2.3 Nextcare

      4. 6.2.4 GlobeMed

      5. 6.2.5 Sehteq

      6. 6.2.6 247 Medical Billing Services LLC

      7. 6.2.7 Aafiya Medical Billing Services LLC

      8. 6.2.8 E Care International Medical Billing Services Co. LLC

      9. 6.2.9 FMC Network UAE Mc LLC

      10. 6.2.10 Inayah TPA LLC*

    3. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. DISCLAIMER & ABOUT US

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Frequently Asked Questions

The UAE Health Insurance Third Party Administrator Market market is studied from 2018 - 2027.

The UAE Health Insurance Third Party Administrator Market is growing at a CAGR of <3% over the next 5 years.

Aetna Inc., Sehteq, MEDNET, GlobeMed Ltd., Nextcare are the major companies operating in UAE Health Insurance Third Party Administrator Market.

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