The program administration (PA) market in the US is a hive of creativity, innovation and growth. According to the Target Markets Program Administrators’ Association (TMPAA), the US program business has more than doubled in size in the past eight years, growing premium review from $17.5 billion in 2010 to more than $36.1 billion in 2018.
“Back in 2010, I would say no-one in the program business (even the dreamers) could envisage the market doubling within eight years and growing at three times the commercial insurance market rate,” said Jack Russell, head of program sales, North America, Allianz Global Corporate and Specialty (AGCS). “Such meaningful growth is incredibly exciting, but also disruptive. It requires PAs, insurance carriers and brokers to think and act more strategically about the program business.”
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