TPA Quarterly Earnings – Q3 2020
Third quarter earnings across our TPA coverage were strong across the board as many of the businesses bounced back after the outbreak of COVID-19. Specifically, Qualicorp, Crawford & Company, Corvel Corporation, and ExlService Holdings all showed huge upticks in revenue from the previous quarter.
Overall, management teams feel strong going into the fourth quarter and 2021 as companies continue to move past COVID-19 induced headwinds and experience an uptick in demand. Additionally, many companies believe that the implementation of technology within the insurance industry and specifically TPAs is starting to be a consistent trend across the industry. Companies will look to use cash on hand to invest in IT and innovation heading into the new year.