Industry Analysis & Industry Trends
The Global Insurance Brokers and Agencies industry is a critical part of the insurance market, distributing policies and providing advisory services to insurance underwriters and consumers. Given the transaction-based nature of the industry, revenue primarily depends on three factors: policy pricing, demand for insurance and the popularity of using agents and brokers in the distribution process. Despite a softening insurance market in recent years, operators' efforts to boost the industry's attractiveness as a purchasing channel have largely offset this trend. Consequently, over the five years to 2013, industry revenue is anticipated to grow at an annualized rate of 3.2% to reach $413.3 billion.
An estimated 86.8%... read more
The majority of the Global Insurance Brokers and Agencies industry's revenue is generated in North America, Europe and North Asia. The industry's revenue breakdown reflects the distribution of insurers' premium income, combined with the distribution penetration of insurance agents and brokers into various markets. Over the past five years, however, the proportion of industry revenue attributable to these regions is estimated to have dropped slightly, reflecting the development of regions such as South East Asia and South America.
North America is anticipated to account for 44.3% of the world's industry establishments... read more