Learn about the global insurance brokers & agents market through The Business Research Company, which provides information on insurance brokers & agents market size, insurance brokers & agents market drivers and restraints, insurance brokers & agents market players, the COVID-19 impact on the insurance brokers & agents market, and more.

The insurance brokers and agents market reached a value of nearly $350.24 billion in 2020, having increased at a compound annual growth rate (CAGR) of 3.7% since 2015. The insurance brokers and agents market is expected to grow from $350.24 billion in 2020 to $457.31 billion in 2025 at a rate of 5.5%. The insurance brokers and agents market is then expected to grow at a CAGR of 5.1% from 2025 and reach $585.50 billion in 2030.

The increasing demand for life and health insurance would drive the insurance brokers & agents market in the forecast period.

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The insurance brokers and agents market consist of sales of insurance policies by entities (organizations, sole traders and partnerships) and individuals that act as intermediaries (agents and 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.

Global Insurance Brokers & Agents Market Segments Include:
By Type: Insurance Agencies, Insurance Brokers, Bancassurance, Other Intermediaries
By Mode: Online, Offline
By Insurance: Life Insurance, Property & Casualty Insurance, Health & Medical Insurance
By End User: Corporate, Individual
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the global insurance brokers & agents market, accounting for 43.5% of the market in 2020.

The increasing demand for artificial intelligence (AI) in insurance is an emerging trend in the insurance brokers and agents market. AI is the simulation of human intelligence processes by machines, especially computer systems, with the potential to surpass human intelligence levels. AI is also used to find efficiency gains within insurance companies. Brokers are continuing to boost investments in artificial intelligence (AI), automation and big data while expanding the use of mobile devices.

TBRC’s insurance brokers & agents market report covers:

Major Market Players: Marsh & McLennan Cos Inc, Willis Towers Watson PLC, Aon PLC, Arthur J Gallagher & Co, Brown & Brown Inc.

Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)

The Insurance Brokers & Agents Global Market Report 2022: Opportunities And Strategies – Global Forecast To 2030 is one of a series of new reports from The Business Research Company that provides insurance brokers & agents market overviews, analyses and forecasts market size, share, insurance brokers & agents market players, insurance brokers & agents market segments and geographies, leading competitor revenues, profiles and market shares.

TBRC’s insurance brokers & agents market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Here Is A List Of Similar Reports From The Business Research Company:

Insurance, Reinsurance And Insurance Brokerage Market 2022

Insurance Brokers Global Market Report 2021

Insurance Agencies Global Market Report 2021

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