LONDON–(BUSINESS WIRE)–Technavio has been monitoring the insurance brokerage market and it is poised to grow by USD 13.84 billion during 2020-2024, progressing at a CAGR of over 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Aon Plc, Arthur J. Gallagher & Co., BB&T Corp., Brown & Brown Insurance Inc., HUB International Ltd., Lockton Inc., Marsh & McLennan Companies Inc., NFP Corp., USI Insurance Services LLC, and Willis Towers Watson Plc are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Increased demand for insurance policies has been instrumental in driving the growth of the market.
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Insurance Brokerage Market 2020-2024: Segmentation
Insurance Brokerage Market is segmented as below:
- Non-life Insurance
- Life Insurance
- North America
- South America
Insurance Brokerage Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The insurance brokerage market report covers the following areas:
- Insurance Brokerage Market Size
- Insurance Brokerage Market Trends
- Insurance Brokerage Market Analysis
This study identifies integration of IT and analytic solutions as one of the prime reasons driving the insurance brokerage market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Insurance Brokerage Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist insurance brokerage market growth during the next five years
- Estimation of the insurance brokerage market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the insurance brokerage market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of insurance brokerage market vendors
Table of Contents:
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
- Currency conversion rates for US$
PART 03: MARKET LANDSCAPE
- Market ecosystem
- Market characteristics
- Market segmentation analysis
PART 04: MARKET SIZING
- Market definition
- Market sizing 2019
- Market outlook
- Market size and forecast 2019-2024
PART 05: FIVE FORCES ANALYSIS
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
PART 06: CUSTOMER LANDSCAPE
PART 07: MARKET SEGMENTATION BY INSURANCE TYPE
- Market segmentation by insurance type
- Comparison by insurance type
- Life insurance – Market size and forecast 2019-2024
- General insurance – Market size and forecast 2019-2024
- Market opportunity by insurance type
PART 08: GEOGRAPHIC LANDSCAPE
- Geographic segmentation
- Geographic comparison
- North America – Market size and forecast 2019-2024
- Europe – Market size and forecast 2019-2024
- APAC – Market size and forecast 2019-2024
- MEA – Market size and forecast 2019-2024
- South America – Market size and forecast 2019-2024
- Key leading countries
- Market opportunity
PART 09: DECISION FRAMEWORK
PART 10: DRIVERS AND CHALLENGES
- Market drivers
- Market challenges
PART 11: MARKET TRENDS
- Industry consolidation through M&A
- Integration of wearables into customer engagement metrics for
- Life insurance segment
- Investors collaborating with InsurTech firms
PART 12: VENDOR LANDSCAPE
- Landscape disruption
- Competitive scenario
PART 13: VENDOR ANALYSIS
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Aon Plc
- Arthur J. Gallagher & Co.
- Brown & Brown, Inc.
- Hub International Ltd.
- Lockton Inc.
- Marsh & McLennan Companies, Inc.
- NFP Corp.
- Truist Financial Corp.
- USI Insurance Services
- Willis Towers Watson Plc
PART 14: APPENDIX
- Research methodology
- List of abbreviations
- Definition of market positioning of vendors
PART 15: EXPLORE TECHNAVIO
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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