Dublin, Sept. 10, 2020 (GLOBE NEWSWIRE) -- The "Insurance Brokers & Agents Global Market Report 2020-30: COVID-19 Impact and Recovery" report has been added to ResearchAndMarkets.com's offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global insurance brokers & agents market as it emerges from the COVID-19 shut down.
The global insurance brokers & agents market is expected to decline from $362.7 billion in 2019 to $358.3 billion in 2020 at a compound annual growth rate (CAGR) of -1.2%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 6% from 2021 and reach $426.6 billion in 2023.
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Where is the largest and fastest growing market for the insurance brokers & agents? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Insurance Brokers & Agents market global report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider insurance brokers & agents market, and compares it with other markets.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the Covid 19 virus and forecasting its recovery.
- Market segmentations break down market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of Covid 19 for all regions, key developed countries and major emerging markets.
- Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
- The insurance brokers & agents market section of the report gives context. It compares the insurance brokers & agents market with other segments of the insurance(providers, brokers and re-insurers) market by size and growth, historic and forecast. It analyses GDP proportion, expenditure per capita, insurance brokers & agents indicators comparison.
North America was the largest region in the global insurance brokers & agents market, accounting for 44% of the market in 2019. Western Europe was the second largest region accounting for 31% of the global insurance brokers & agents market. Eastern Europe was the smallest region in the global insurance brokers & agents market.
Bancassurance is gaining prominence within the insurance intermediation industry. This distribution channel is being used by banks to cross-sell its products and services and generate additional revenue. Bancassurance also benefits the insurance company by providing an exposure to a wider customer base via the bank's distribution network of agents and branches. The adoption of more diversified and enhanced products offered by banks is expected to drive the bancassurance market at a CAGR of nearly 8% to 2019.
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.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Insurance Brokers & Agents Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
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
5.2. Distribution
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, 2019, By Region, Value ($ Billion)
9.2. Global Insurance Brokers & Agents Market, 2015-2019, 2023F, 2025F, 2030F, 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, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
10.2. Global Insurance Brokers & Agents Market, Segmentation By End User, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
10.3. Global Insurance Brokers & Agents Market, Segmentation By Mode, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
10.4. Global Insurance Brokers & Agents Market, Segmentation By Insurance, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion
11. Insurance Brokers & Agents Market Metrics
11.1. Insurance Brokers & Agents Market Size, Percentage Of GDP, 2015-2023, Global
11.2. Per Capita Average Insurance Brokers & Agents Market Expenditure, 2015-2023, Global
12. Asia-Pacific Insurance Brokers & Agents Market
13. Western Europe Insurance Brokers & Agents Market
14. Eastern Europe Insurance Brokers & Agents Market
15. North America Insurance Brokers & Agents Market
16. South America Insurance Brokers & Agents Market
17. Middle East Insurance Brokers & Agents Market
18. Africa Insurance Brokers & Agents Market
19. Insurance Brokers & Agents Market Competitive Landscape
19.1. Competitive Market Overview
19.2. Market Shares
19.3. Company Profiles
19.3.1. Marsh & McLennan Cos Inc
19.3.1.1. Company Overview
19.3.1.2. Products And Services
19.3.1.3. Strategy
19.3.1.4. Financial Performance
19.3.2. Willis Towers Watson PLC
19.3.2.1. Company Overview
19.3.2.2. Products And Services
19.3.2.3. Strategy
19.3.2.4. Financial Performance
19.3.3. Aon PLC
19.3.3.1. Company Overview
19.3.3.2. Products And Services
19.3.3.3. Strategy
19.3.3.4. Financial Performance
19.3.4. Arthur J Gallagher & Co
19.3.4.1. Company Overview
19.3.4.2. Products And Services
19.3.4.3. Strategy
19.3.4.4. Financial Performance
19.3.5. Brown & Brown Inc
19.3.5.1. Company Overview
19.3.5.2. Products And Services
19.3.5.3. Strategy
19.3.5.4. Financial Performance
20. Key Mergers And Acquisitions In The Insurance Brokers & Agents Market
21. Market Background: Insurance(Providers, Brokers and Re-Insurers) Market
21.1. Insurance(Providers, Brokers and Re-Insurers) Market Characteristics
21.2. Insurance(Providers, Brokers and Re-Insurers) Market Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F Growth, By Segment, Value ($ Billion), Global
21.3. Global Insurance(Providers, Brokers and Re-Insurers) Market, 2019, By Region, Value ($ Billion)
21.4. Global Insurance(Providers, Brokers and Re-Insurers) Market, 2015-2019, 2023F, 2025F, 2030F, Historic And Forecast, By Region
21.5. Global Insurance(Providers, Brokers and Re-Insurers) Market, 2015-2019, 2023F, 2025F, 2030F, Segmentation By Type, Value ($ Billion)
22. Recommendations
22.1. Global Insurance Brokers & Agents Market In 2023- Growth Countries
22.2. Global Insurance Brokers & Agents Market In 2023- Growth Segments
22.3. Global Insurance Brokers & Agents Market In 2023- Growth Strategies
23. Appendix
24. Copyright And Disclaimer
Companies Mentioned
- Marsh & McLennan Cos Inc
- Willis Towers Watson PLC
- Aon PLC
- Arthur J Gallagher & Co
- Brown & Brown Inc
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