Insights Into The Insurance Agencies Market’s Growth Opportunities Through 2023-2032 – Includes Insurance Agencies Market Growth
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Increased awareness about the benefits of insurance coverage are expected to drive innovation in insurance agencies manufacturing, thus driving the market during the forecast period.
The global insurance agencies market is expected to grow from $125.59 billion in 2022 to $132.27 billion in 2023 at a compound annual growth rate (CAGR) of 5.3%. The global insurance agencies market is expected to grow to $156.46 billion in 2027 at a CAGR of 4.3%.
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Global Insurance Agencies Market Segments Include:
- By Insurance: Life Insurance, Property And Casualty Insurance, Health And Medical Insurance, Other Insurance
- By Mode: Online, Offline
- 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 is the largest region in the global insurance agencies market in 2021.
Major Market Players in the insurance agencies market include McGriff Insurance Services, Marsh & McLennan Agency LLC., Aon PLC., Brown & Brown Insurance Inc., HUB International Ltd., and USI Insurance Services.
Introduction to technology-enabled services and platforms is a leading trend in the insurance agencies market. Insurance and technology companies are assisting insurance agencies by developing technology-enabled services and platforms for enhancing smooth customer experience and versatility. For instance, April 2020, Aureus Analytics, an artificial intelligence technology company, partnered with HawkSoft to help independent insurance agents understand better how well their agency serves the insured. Furthermore, in October 2021, a digital asset financial services platform called BVNK was launched which would make crypto financial services more accessible to the patients.
The Insurance Agencies Global Market Report 2023 provides a insurance agencies market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The insurance agencies market forecast analyzes insurance agencies market size, insurance agencies market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An insurance agency is a business or individual authorized by an insurance company to sell their insurance products on their behalf. They find, write, and bind policies between their clients and insurance companies.
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