Industry Analysis & Industry Trends
Industry revenue remained relatively strong during the recession because of the constant need for insurance coverage in times of economic growth and decline. The recovery will likely cause demand and revenue to pick up after high unemployment and other economic factors cut into growth. As car and home purchases rise once again and consumers buy health insurance, demand for insurance brokers and agents will rise. However, the industry will also face competition from online brokerage businesses and direct insurance sales models... purchase to read more
Industry Report - Industry Locations Chapter
Brokerages and agencies are widely used as the primary distribution network of insurance products for life, health, property and casualty (P&C) and other insurance carriers. As a result, the geographical distribution of brokerages and agencies generally reflects population trends and demographics because it is important for participants to have access to consumers and potential clients. At the same time, it is important to note that the distribution of industry participants is also reflective of state regulations and weather patterns. Areas with high risks of natural disasters, such as Florida, typically have higher rates and more brokers and agents than low-risk locations due to greater need for insurance coverage... purchase to read more