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Risk & Damage Evaluation in the UK: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Risk & Damage Evaluation Market Research Report | SIC K66.210 | May 2016

Damage control: Regulatory and policy changes will influence the industry in the coming years

The Risk & Damage Evaluation market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

Report Snapshot
Market Share of Companies
Crawford & Co Adjusters (UK) Ltd Crawford & Co Adjusters (UK) Ltd market share
Cunningham Lindsey United Kingdom Cunningham Lindsey United Kingdom market share
Davies Group Ltd Davies Group Ltd market share
Industry Statistics & Market Size
Revenue
£871m
Annual Growth 12-17
3.3%
Annual Growth 17-22
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Profit
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Employment
15,008
Businesses
761
Industry Analysis & Industry Trends

The industry acts as an outsourced claims adjusting and processing service for insurers. The industry also provides services to policyholders in the form of independent third-party validation, or the contesting of evaluations made by assessors employed by the insurers underwriting the policy. Therefore, demand for the industry's services is closely aligned with the level of outsourcing insurers opt to undertake, insurance coverage and the occurrence of insured risks that give rise to the need for assessing damage caused and the level of payouts.

Revenue is expected to increase at a compound annual rate of 3.3% over the five years through 2016-17... purchase to read more

Industry Report - Starting a New Business Chapter

The industry has medium barriers to entry. Capital intensity is low and, despite the presence of some large firms, scale is not essential as evidenced by the existence of many very small businesses in the industry. This is primarily because the industry is highly dependent on skilled labour.

However, gaining a foothold in the industry is the difficult part. Gaining qualifications and licences where necessary, winning initial business, and the need to establish a reputation for quality service all present barriers.

Growth beyond a small firm can also be difficult. The major players benefit from economies of scale when processing claims, and have the size to invest in technology that can automate some processes.

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Industry ProductsRelated ReportsTable of Contents

What is the Risk & Damage Evaluation Industry?

The industry provides insurance administration services, assessing insurance claims made by policyholders and settling claims.

Industry Products
Motor risk and damage evaluationProperty and content risk and damage evaluationMarine, aviation and transport risk and damage evaluationAccident and health insurance risk and damage evaluationOther services
 
Industry Activities
Claims adjustingRisk assessingRisk and damage evaluationAverage and loss adjusting Assessing and settling insurance claims


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