North American Risk Services
North American Risk Services is a privately owned, independent third-party claims administrator (TPA) that manages workers' compensation, transportation, property, liability, and specialty claims for insurance carriers, self-insured employers, and public entities.
- Company typePrivate
- Founded1996
- HeadquartersAltamonte Springs, United States
- Headcount251–500
- GTM typeB2B
- OfferingServices
What North American Risk Services does
North American Risk Services (NARS) is a privately owned, independent third-party claims administrator (TPA) founded in 1996 and headquartered in Altamonte Springs, Florida, with additional offices in Illinois, Oregon, and Nevada. The company administers insurance claims on behalf of insurance carriers, self-insured employers, and public entities across ten or more lines of business, including workers' compensation, transportation, commercial property, general and professional liability, construction defect, personal lines, public entity, energy, environmental, and maritime, as well as run-off claims management. NARS positions itself as conflict-free by emphasizing that it is not owned by, affiliated with, or controlled by an insurance carrier, reinsurer, or brokerage, and it holds SOC 1 Type II certification under AICPA SSAE 16 to validate its internal controls.
The company's core technology is an integrated claims management platform with a web-based 24/7 online claims reporting portal (claims.narisk.com) and a provider portal, supported by add-on modules: NARSRx (a pharmacy benefit management program with predictive analytics, formularies, prior authorization, and prospective/retrospective/real-time reviews), a Special Investigation Unit (SIU) with fraud detection algorithms and investigation workflows, a Recovery Unit with subrogation and salvage databases, and the SCORE! statistical claim auditing system. NARS generates revenue through managed-services fees for claims administration and professional-services fees for unbundled ancillary services (NARSRx, SIU, recovery, auditing), with quote-based, multi-year B2B contracts negotiated directly with carriers, self-insureds, and public sector clients. GTM is predominantly enterprise field sales supplemented by industry association participation (TMPAA, WSIA, RIMS, CLM, NASP, IASIU, SIIA, IACP) and a remote workforce that supports nationwide service delivery.
North American Risk Services firmographics
Firmographics- Name
- North American Risk Services
- Legal name
- North American Risk Services, Inc.
- Website
- https://narisk.com
- Company type
- Private
- Founded year
- 1996
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- North American Risk Services is a privately owned, independent third-party claims administrator (TPA) that manages workers' compensation, transportation, property, liability, and specialty claims for insurance carriers, self-insured employers, and public entities.
- Ownership category
- akta.pro rank
North American Risk Services industry classification
Industry- Product category
- Third-Party Claims Administration
- NAICS
- Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292), Claims Adjusting (524291)
- SIC
- Insurance Agents, Brokers & Service (6411)
- akta.pro primary industry
- Third-Party Administrator (TPA) & Program Administrator Services (FSAJALAF)
Keywords
Where North American Risk Services is headquartered
LocationHeadquarters
- HQ city
- Altamonte Springs
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
North American Risk Services business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Claims Administration Services: Third-party claims administration fees charged to insurance carriers and self-insured entities for managing claims across multiple lines of business including workers' compensation, transportation, commercial property, general liability, construction defect, and personal lines.
- Ancillary Services: Additional services including pharmacy solutions (NARSRx), special investigation unit (SIU), recovery/subrogation, and claims auditing that can be unbundled and offered separately to optimize client operations.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Claims administration services for insurance carriers and self-insured entities |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels4 records
North American Risk Services product offering
Product offeringCore offering
NARS is a third-party claims administrator (TPA) that manages insurance claims on behalf of carriers, self-insured employers, and public entities across multiple lines of business, including workers' compensation, transportation, commercial property, general liability, construction defect, personal lines, public entity, energy, environmental, maritime, and run-off. It supplements core claims handling with unbundled ancillary services such as the NARSRx pharmacy benefit program, a Special Investigation Unit (SIU) for fraud prevention, a Recovery Unit for subrogation/salvage, and SCORE! quality auditing, supported by an integrated claims platform with predictive analytics and 24/7 online intake.
Product overview
North American Risk Services (NARS) is a privately owned third-party claims administrator (TPA) offering a unified claims management platform with specialized divisions. The core product encompasses distinct claims administration services for Workers' Compensation, Transportation (trucking, bus, livery, towing), Commercial Property, General & Professional Liability, Construction Defect, Personal Lines, Public Entity, Energy, Environmental, and Maritime lines, plus Run-Off claims management. Add-on modules include NARSRx Pharmacy Solutions Program for pharmacy benefit management, the Special Investigation Unit for fraud detection, the Recovery Unit for subrogation/salvage, and SCORE! quality auditing. All services are supported by a web-based Online Claims Reporting Portal for automated intake across all major claim types. NARS operates independently without insurance company, reinsurer, or brokerage ownership, providing clients with conflict-free claims administration.
Differentiator
Problem solved
Functional benefit
Brands
- NARSRx: Pharmacy Solutions Program focusing on the mitigation of drug costs and safety of injured employees, providing clinical and claims management experts, nationwide physician advisor network, and pharmacy network services.
Products and services
- General & Professional Liability Claims Third-party claims administration for general liability, professional liability, E&O/D&O, restaurant, entertainment, and slip-and-fall claims using team-based adjustment with progressive supervisor review and round-tabling for insurance carriers, self-insured entities, and public entities.
- Commercial Property Claims Claims administration for commercial property owners covering package, monoline, shared, and layered coverage for allied lines, fire, CMP, and business interruption claims, including habitational, multi-peril, and international property exposures.
- Workers' Compensation Claims Comprehensive workers' compensation claims management with dedicated specialists using 'The NARS Way' methodology, including state and regulatory reporting, cost containment, medical management, pharmacy benefit management, and return-to-work programs for employers and insurance carriers.
- Transportation Claims Specialized claims handling for trucking (cargo, bobtail/deadhead, physical damage, SIR administration), towing and recovery (on-hook, garagekeepers, garage liability), bus, and livery/taxi/limousine/auto rental transportation operations.
- Personal Lines Claims Non-standard and assigned risk personal auto and homeowners claims handling with 24/7 availability, including physical damage, bodily injury, liability investigation, and property damage mitigation services.
- Public Entity Claims Claims management for public sector entities including school boards, counties, municipalities, fire departments, and police departments, covering discrimination, civil rights, employment liability, and class-action claims.
- Energy Claims Claims administration for petrochemical, oil, gas, electric, wind, and solar energy sectors, with expertise in transmission pipelines, environmental damage, business interruption, and subrogation recovery.
- Environmental Claims Claims handling for hazardous waste cleanup, EPA/DEQ remedial actions, pollution liability, underground storage tanks, asbestos, silica, lead, PCB exposure, and environmental consultant E&O exposures.
- Maritime Claims Claims administration for maritime operations including offshore platforms, cargo ships, docks, terminals, Longshore and Harborworkers Act, Jones Act, and brownwater/deepwater marine liability and cargo claims.
- Run-Off Claims Management Management of discontinued liabilities for exited business lines with senior-level expertise, reserve adequacy review, streamlined information management, and expense and uncertainty reduction for secure business exit.
- Construction Defect Claims Claims management for construction defect litigation covering coverage forms, contracting, torts, construction expertise, right-to-repair laws, and subcontractor general liability, with access to qualified local engineers, contractors, and attorneys.
- NARSRx Pharmacy Solutions Program Pharmacy benefit management program focused on drug cost mitigation and injured worker safety through clinical oversight, nationwide physician advisor network, treatment plan review, opioid abuse prevention, real-time claims portal, mail order prescriptions, customized formularies, and prospective, retrospective, and real-time reviews.
- Special Investigation Unit (SIU) Fraud prevention and investigation service, including SIU referral screening, background checks, social media checks, clinic and hospital searches, fraud awareness training, and state regulatory compliance reporting.
- Recovery Unit Subrogation, salvage, second injury fund, and deductible collection services across all lines of business, with early recovery identification, database tracking, and subrogation audits for closed claims.
- SCORE! Claims Auditing Quality control system (Statistical Claim Opportunity Report and Evaluation) conducting claim audits to identify trends and improvement areas, providing objective quality measures across coverage analysis, reserving, documentation, file handling, customer service, negotiation, settlement, and litigation handling.
Companies that use North American Risk Services
Customer profileSegments3 records
Ideal customer profiles3 records
North American Risk Services technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability6 records
Feature4 records
North American Risk Services partnerships and signals
Strategic signalPartnerships
16 partnerships are on record, tiered minor.
- Target Markets Program Administrators Association (TMPAA)minorProfessional network for program business professionals providing market contacts, education, and networking for carriers, managing general agencies, and vendors in program administration.
- Wholesale & Specialty Insurance Association (WSIA)minorTrade association serving over 800 member organizations in wholesale, specialty and surplus lines industry with networking, education, talent recruitment and advocacy.
- Risk and Insurance Management Society, Inc. (RIMS)minorProfessional society advancing risk management practice for almost 70 years, representing thousands of corporate, industrial, service, charitable and governmental entities with education, networking and advocacy.
- Claims and Litigation Management Alliance (CLM)minorLargest professional association in the insurance industry with over 45,000 members of professionals in claims resolution and litigation management. NARS staff comprise CLM members with access to networking events, conferences, and continuing education.
- National Association of Subrogation Professionals (NASP)minorAssociation established in 1998 dedicated to enhancing the stature and effectiveness of subrogation and recovery professionals through education, advocacy and information exchange. Many NARS Recovery Unit staff are members.
- International Association of Special Investigation Units (IASIU)minorNon-profit organization founded in 1984 promoting coordinated industry effort to combat insurance fraud through education, training, awareness, and legislative support.
- Self-Insurance Institute of America, Inc. (SIIA)minorMember-based association dedicated to protecting and promoting business interests of companies in self-insurance/alternative risk transfer industry including TPAs, captive managers, and service providers.
- International Association for Claims Professionals (IACP)minorGlobal forum for senior claim leaders to build peer relationships and enhance knowledge of strategic claim issues and trends, improving development, leadership and professionalism.
- Medicare Advocacy Recovery Coalition (MARC)minorCoalition advocating for improvement of Medicare Secondary Payer (MSP) program through collaboration with beneficiaries, companies, and stakeholders to implement MSP reforms.
- Lighthouse ServicesminorPartner providing anonymous reporting channels for fraudulent behavior and ethical/harassment concerns. NARS utilizes Lighthouse Services for confidential fraud and compliance reporting.
- SyntriominorPlatform partner for fraud and ethical inquiry reporting, integrated with NARS reporting systems at report.syntrio.com/narisk.
- Pumpkin Pet InsuranceminorEmployee benefit partnership providing pet insurance access to NARS employees as part of national employee discount programs.
- Trucking Insurance Defense Association (TIDA)minorIndustry organization for trucking claims defense resources. NARS trucking teams are actively involved in TIDA and Truckload Carriers Association.
- Truckload Carriers AssociationminorIndustry organization for trucking industry. NARS trucking teams are actively involved in this association.
- Property Loss Resource Bureau (PLRB)minorIndustry resource organization for property and casualty resources, education and training referenced in industry links.
- Insurance Information Institute (III)minorIndustry facts and statistics resource referenced in industry links section.
Scale indicators3 records
Recent moves6 records
Expansion highlights6 records
North American Risk Services competitors and assessment
Company assessmentDirect peers
- Sedgwick: Largest independent third-party claims administrator in North America offering multi-line claims management, managed care, and risk solutions. Closest direct peer to NARS in scope across workers' comp, property, liability, and specialty lines.
- Engle Martin & Associates: Independent third-party claims administrator specializing in property, casualty, transportation, and specialty claims. Comparable mid-market TPA model with similar multi-line specialty positioning.
- Helmsman Management Services: Third-party claims administrator focused on workers' compensation, auto, and property claims for self-insured employers. Directly competes with NARS in the self-insured segment.
- CorVel Corporation: National provider of workers' compensation and liability claims management, pharmacy benefit management, and managed care services. Comparable in combining claims admin with PBM, similar to NARS' NARSRx program.
- Gallagher Bassett Services: Third-party claims administration division of Arthur J. Gallagher providing multi-line claims management, medical management, and risk consulting to carriers and self-insureds. Direct competitor in the same TPA space.
- Broadspire (part of Crawford): Third-party administrator offering workers' compensation, liability, and disability claims management. Strong overlap with NARS' workers' comp and general liability practice areas.
- York Risk Services Group: Third-party claims administrator providing workers' compensation, liability, property, and specialty claims handling. Closely aligned with NARS in serving public entities and self-insureds.
- Crawford & Company: Global claims management and third-party administration firm serving insurance carriers and self-insureds across property, casualty, and specialty lines. Comparable multi-line TPA operating model with broader international footprint.
Broad incumbents
- ESIS (Chubb subsidiary): Third-party claims administrator owned by Chubb, offering claims management across casualty, property, and workers' comp. Competes directly with NARS but is part of a much larger insurance parent.
Emerging players
- The Crichton Group: Specialty claims management firm serving public entities, transit authorities, and self-insureds. Comparable focus area to NARS' public entity and transportation claims practice.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
North American Risk Services social profiles
Digital presenceNorth American Risk Services compliance and trust
Trust signalCompliance1 record
North American Risk Services financial estimates
Financial estimateRevenue estimate
Valuation estimate
North American Risk Services leadership team
Management profileNumber of profiles
Profiles5 records
North American Risk Services funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
North American Risk Services M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about North American Risk Services
What does North American Risk Services do?
NARS is a third-party claims administrator (TPA) that manages insurance claims on behalf of carriers, self-insured employers, and public entities across multiple lines of business, including workers' compensation, transportation, commercial property, general liability, construction defect, personal lines, public entity, energy, environmental, maritime, and run-off. It supplements core claims handling with unbundled ancillary services such as the NARSRx pharmacy benefit program, a Special Investigation Unit (SIU) for fraud prevention, a Recovery Unit for subrogation/salvage, and SCORE! quality auditing, supported by an integrated claims platform with predictive analytics and 24/7 online intake.
Is North American Risk Services a public or private company?
North American Risk Services is a private company. It is classified as unknown and is currently operating.
When was North American Risk Services founded?
North American Risk Services was founded in 1996. It employs 251 to 500 people.
Where is North American Risk Services based?
North American Risk Services is headquartered in Altamonte Springs, United States, in the North America region.
How does North American Risk Services make money?
Two revenue lines are on record. Claims Administration Services are the primary driver. The others are ancillary Services.
Who are North American Risk Services's main competitors?
Direct peers on record are Sedgwick, Engle Martin & Associates, Helmsman Management Services, CorVel Corporation, Gallagher Bassett Services, Broadspire (part of Crawford), York Risk Services Group and Crawford & Company. ESIS (Chubb subsidiary) is listed as a broad incumbent. The Crichton Group is listed as an emerging player.
Does North American Risk Services have an API?
No public API is recorded for North American Risk Services.
What industry is North American Risk Services in?
North American Risk Services's product category is Third-Party Claims Administration. Its primary akta.pro industry code is FSAJALAF, Third-Party Administrator (TPA) & Program Administrator Services. Its NAICS code is 524292 and its SIC code is 6411.