What is a TPA? A Third Party Administrator is a body that processes insurance claims admissible under the mediclaim policy. What Is a Third-Party Administrator (TPA)? A third-party administrator is a company that provides operational services such as claims processing and employee benefits management under contract to another company. A third-party administrator (TPA) is an organization that processes insurance claims or certain aspects of employee benefit plans for a separate entity. United Health Care Parekh Insurance TPA Private Limited/ यूनाइटेड हेल्थ केयर पारेख इंश्योरेंस टीपीए. What is third party administrator in insurance? Third Party Administrator also known as TPA acts as an interface between the insurer and the policyholder.