Analysis
NAICS 524298 is the 2022 national industry for all other insurance related activities, part of 52429 (Other Insurance Related Activities). Census lists 12 example activities under it in the official index.
County Business Patterns counts 3,089 US establishments in this code in 2023, employing 35,078 people at an average annual payroll of $96,608 per employee (82nd percentile of national industries). 73% of the establishments have fewer than five employees, which marks it as a small-business industry.
By establishments it ranks 3rd of the 3 codes at this level within Other Insurance Related Activities, with 21.8% of them.
Between 2018 and 2023 the number of establishments grew 12% and employment rose 9%. The 2018 count used NAICS 2017, so part of a large move can come from codes being redefined rather than from businesses opening or closing.
Its index entries, the activities Census uses to assign businesses to this code, include actuarial services, insurance, insurance actuarial services, insurance advisory services and insurance coverage consulting services, among 12 in all.
Census lists 4 related activities that belong elsewhere, most often in 541612, 524210, 524291 and 524292. Businesses that do several things are classified by their primary activity, the one that generates the most value, so check those boundaries before settling on this code.
Official definition
This U.S. industry comprises establishments primarily engaged in providing insurance services on a contract or fee basis (except insurance agencies and brokerages, claims adjusting, and third party administration). Insurance advisory services, insurance actuarial services, and insurance ratemaking services are included in this industry.
Source: US Census Bureau, NAICS 2022 Manual.
Not this code if…
| The business mainly does | Use instead |
|---|---|
| Providing actuarial consulting services | 541612 Human Resources Consulting Services |
| Acting as agents (i.e., brokers) in selling annuities and insurance policies | 524210 Insurance Agencies and Brokerages |
| Insurance claims adjusting | 524291 Claims Adjusting |
| Providing pharmacy benefit management services and other third party administration services of insurance and pension funds | 524292 Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds |
Index entries (12)
- Actuarial services, insurance
- Insurance actuarial services
- Insurance advisory services
- Insurance coverage consulting services
- Insurance exchanges
- Insurance investigation services (except claims investigation)
- Insurance loss prevention services
- Insurance ratemaking services
- Insurance reporting services
- Insurance underwriters laboratories and standards services
- Medical cost evaluation services
- Ratemaking services, insurance