DUBLIN--(BUSINESS WIRE)--The "UAE Health Insurance Third Party Administrator Market - Market Overview, Market Dynamics and Trends (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.
The UAE health insurance third-party administrator (HITPA) market grew significantly in the wake of the mandatory insurance law that was applied in Dubai, over the 2013-2017 period. Both private and public sector providers and payers are significantly involved in conducting business with third-party administrators.
The market is currently at an inflection point. The mandatory health insurance schemes, in both the Emirates of Abu Dhabi (much earlier in the last decade itself) and Dubai, have been considered as fully rolled out, in 2017. These two emirates make up the majority of the UAE population, which like other GCC (Gulf Co-Operation Council) regions have a large expatriate population.
The UAE regulatory authorities (especially Dubai Health Authority) have created a key differentiation, by requiring health insurance industry stakeholders to submit and record health insurance-related workflows and fund flows electronically, through the e-claims link system.
Key Drivers for the HITPA Market in UAE
- Large number of smaller insurers requiring TPA support.
- Health-related spending being a key area of focus for the government.
- Smaller insurance companies have a traditional way of carrying out operations and have and TPAs fill in the gap by providing support required to digitize, as per DHA norms.
Key Developments in the Market
- NAS Administration Services has been acquired by a Bahraini consortium made of the private equity investors and the Bahraini sovereign wealth fund.
- Inayah TPA LLC was recently acquired by National Life and General Insurance Company of Oman, at the end of 2017. The acquisition was carried out at the time the company was in the process of going public with an IPO. Rationale for acquisition was to support its own expansion in the UAE insurance market, specifically focusing on the UAE health insurance market.
There are currently over 20 third-party administrators actively operating in the UAE market, and some of these are leaders from the region - such as Globemed and Nextcare, and various other players. Other international players present in the market include Aetna, Vidal Health TPA, and MSH International, while other players, such as NAS, Neuron, Inayah, etc., are homegrown UAE companies.
Key Topics Covered:
1.1 PESTLE Analysis
1.2 Introduction to the Health Insurance Industry
1.3 Executive Summary of the TPA Market
2. Market Dynamics (Covers Regulatory Outlook)
2.5 Porter's Five Forces Analysis
3. Market Analysis
3.1 Top Players in the Industry and Overview of their Business Presence, List of All TPAs in the Country
3.2 Insights on Recent Enterprise-level Developments (M & A, JV, etc.)
3.3 Market Size Estimation for Third-party Administrator Market
For more information about this report visit https://www.researchandmarkets.com/r/3e107k
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