North America insurance brokers & agents market accounts for the largest share in the global insurance brokers & agents market.
The insurance brokers and agents market consists of sales of insurance policies by entities (organizations, sole traders and partnerships) and individuals that act as intermediaries (i.e., agents, brokers) in selling annuities and insurance policies. They represent consumers or insurance providers or both in insurance premium collection. Insurance brokers and agents can be contracted with single or multiple insurance companies as they try to meet different client needs with available insurance products. This market excludes the direct selling of insurance products by insurance companies. The value of the market is based on the fees or commissions paid to brokers by the insured, both commercial and personal.
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Insurance Brokers & Agents Market Size
The insurance brokers and agents market is expected to reach a value of nearly $493 billion by 2022, significantly growing at a growth rate of around 9% during the forecast period. The growth in the insurance brokers and agents market is due to the increasing number of online channels, launch of innovative products and rising awareness of the investments market. However, the market for insurance brokers and agents is expected to face certain restraints from several factors such as increasing digitization and use of traditional methods.
The entrance of non-traditional firms in the insurance brokers and agents market, significant growth opportunities for Bancassurance, increasing mergers and acquisitions, are the major trends witnessed in the global insurance brokers and agents market.
Major players in the market are Marsh & McLennan Cos Inc, Willis Towers Watson PLC, Aon PLC, Arthur J Gallagher & Co, Brown & Brown Inc.
Brown & Brown, Inc. is a provider of insurance and reinsurance products and services to general business, corporate, governmental and quasi-governmental, institutional, professional, trade association and individual clients. Its headquarters are in Daytona Beach, Florida.
Few Points from Table of Contents:
4. Insurance Brokers & Agents Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Insurance Brokers & Agents Market Supply Chain
5.1. Supply Chain
5.3. End Customers
6. Insurance Brokers & Agents Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Insurance Brokers & Agents Market Trends And Strategies
8. Insurance Brokers & Agents Market Size And Growth
8.1. Market Size
8.2. Historic Market Growth, Value ($ Billion)
8.2.1. Drivers Of The Market
8.2.2. Restraints On The Market
8.3. Forecast Market Growth, Value ($ Billion)
8.3.1. Drivers Of The Market
8.3.2. Restraints On The Market
9. Insurance Brokers & Agents Market Regional Analysis
9.1. Global Insurance Brokers & Agents Market, 2018, By Region, Value ($ Billion)
9.2. Global Insurance Brokers & Agents Market, 2014 – 2022, Historic And Forecast, By Region
9.3. Global Insurance Brokers & Agents Market, Growth And Market Share Comparison, By Region
10. Insurance Brokers & Agents Market Segmentation
10.1. Global Insurance Brokers & Agents Market, Segmentation By Type, 2014 – 2022, Value ($ Billion)
10.1.1. Insurance Agencies
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