The Business Research Company’s Insurance Brokers & Agents global market report, covers the year-on-year growth of the global Insurance Brokers & Agents market historic and forecast growth. It also includes chapters on the Insurance Brokers & Agents market trends, geographical analysis, and competitive landscape.
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The global insurance brokers and agents market size is expected to reach above $500 billion by 2022, significantly growing at a CAGR of around 5.6% during the forecast period.
Insurance Brokers & Agents Market Trends
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.
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.
The global Insurance Brokers & Agents market is primarily driven by rise in disposable income, growing population, increasing number of online channels, and launch of innovative products and rising awareness of the investments market.
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The global Insurance Brokers & Agents market report covers the following regions under the geographical analysis section: Asia Pacific, Western Europe, North America, Middle East, Africa, South America, and Eastern Europe. Major countries under each of these regions are also covered under the country analysis chapters.
With increase increasing government initiatives, improved earning capacity, emerging markets growth, the global Insurance Brokers & Agents market is expected to increase in potential and scope. TBRC’s report also covers the Insurance Brokers & Agents drivers and restraints in the market.
The global Insurance Brokers & Agents market’s segment shares in each geographic region are mentioned in the report, along with the historic and forecast growth rates for each segment presented visually with supporting reasons to justify the growth rates.
The top companies included in the global Insurance Brokers & Agents market report are Marsh & McLennan Cos Inc, Willis Towers Watson PLC, Aon PLC, Arthur J Gallagher & Co, Brown & Brown Inc.
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