Insurance brokerage act as an intermediate between policyholders & insurers by providing advice to their clients on insurance products. The major products included in the insurance brokerage market are health, medical and causality. Global insurance brokerage market size was valued at $1.01 billion in 2017 and is estimated to reach $13.8 billion by 2025 with the CAGR of 4% during 2019-2025. The global insurance brokerage market is growing owing to the factors including rising values for an insurance policy, growing population of baby boomers, emerging medial insurance opportunities, provision of security services and awarding financial services to customers. On the other hand, the market is affecting some of the restraints such as online or direct sales of insurance policies, increased customer expectations and increasing penetration of smartphones & internet. Growing dependence on business intelligence, improve customer service and enhancing performance & decision making are the opportunities expected to enhance the growth of the market in future.
Research Study Objectives:
- Define, estimate, and forecast the insurance brokerage market statistics products, type, end users and regions concerning the individual growth drivers, market trends and their contribution toward the insurance brokerage market growth
- Provides comprehensive information regarding the key factors influencing the market growth (Drivers, Restraints & Challenges, and Opportunities)
- Estimate & forecast the market size of all the segments concerning geographies including North America, Europe, Asia Pacific (APAC), South America and the Middle East and Africa (MEA).
- Recent competitive developments including M&A (Mergers and Acquisitions), Partnerships, and Product Innovations are provided in the insurance brokerage market analysis report.
- Analysis and conclusions on the future insurance brokerage market outlook.
Top-down and bottom-up approaches are used to validate the insurance brokerage market size and are used to estimate the size of other dependent submarkets. Key players in
the market are identified through various secondary sources; databases including Bloomberg Businessweek, Hoovers, Factiva, journals and associations and the market revenues are estimated and are thoroughly validated through primary and secondary research. Secondary research involves the study of annual and financial reports of top players in the market, whereas primary research includes extensive interviews with the KoL’s such as CEOs, directors, board members, VP’s, sales managers, engineers, marketing executives, technicians, account managers, investors, strategic decision makers and others. The insurance brokerage market shares and breakdowns are determined using secondary sources and are verified by the primary sources. All possible parameters/factors that are affecting the insurance brokerage market demand are covered in the research study are verified through primary research, analysed and interpreted to get the final qualitative and quantitative data. This data is collected and added with detailed analysis from Envision Inteligence and presented in this report.
The scope of the Report
The insurance brokerage market segmentation is as follows:
By Product
- Commercial P&C insurance
- Personal P&C insurance
- Health and medical insurance
- Life and accident insurance
- Insurance administration and risk consulting
- Annuities
By Type
- Life Insurance
- General Insurance
By End Users
- Property and casualty insurance policy brokerage
- Health and medical insurance brokerage
- Life and accident insurance brokerage
- Reinsurance brokerage and administration
- Annuity brokerage
- Risk management consulting
Geographical Analysis:
Insurance brokerage market is segmented by geography into North America, South America, Europe, APAC and Middle East & Africa. U.S., Canada, Mexico and Costa Rica are analysed under North American region which is usually turning as the hotspot in the market. The South American region is further segregated into Brazil, Argentina, Chile, Columbia and some other emerging economies. In Europe, the market is extensively examined by covering U.K., Germany, France, Italy, Spain, Netherlands, Poland, Switzerland and some other promising economies. APAC is further categorised by countries into China,
India, Japan, South Korea, Australia & New Zealand, Malaysia, Singapore and many other emerging nations. In the Middle East & African region, Saudi Arabia, UAE, Iran, Iraq, Qatar, South Africa, Algeria, Morocco, Nigeria and so on countries are evaluated to understand the market growth lucidly.
Customization Options:
With the given research report, Envision Inteligence offers customisations as per the client’s specific requirements. The following customisation options offered for the insurance brokerage market include:
- Scope Revision
- Geographic Analysis
- Company Profiles
- Historical Data & Forecasting
- Key Contact Persons in companies
Global Insurance Brokerage Market Research Report Includes:
- An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
- To have a complete market analysis through industry value chain analysis, Porter’s Five Force Model, PESTLE, SWOTanalysis, and Y-o-Y analysis.
- Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
- Identifying DROC in the current market and their impact on altering market dynamics.
- Competitive landscape analysis to identify the merger and acquisition which will have a comparative financial study with significant competitors.
- Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
- Identify the latest developments, market shares and strategies that are employed by the significant Insurance Brokerage, such as
- Aon Plc
- Willis Group Holding
- Hub International Limited
- National Financial Partners Corporation
- Wells Fargo Insurance Services
Along with these companies, many other companies are considered in the report while analysing the global insurance brokerage market competitive strategies and environment. These companies held substantial share-owning to the nature of the industry whereas, the rest of the market shares are marginal chunks to regional and local level manufacturers. Other players also have considerable presence owing to its robust brand image, geographical reach and stable customer base.
