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Online Insurance Brokers in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Online Insurance Brokers Market Research Report | Advisory & Financial Services | Specialist Insurance Lines | Jul 2014

Rest insured: Rising home and car owner rates will drive demand for insurance brokers

IBISWorld’s Online Insurance Brokers market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
$14bn
Annual Growth 09-14
5.9%
Annual Growth 14-19
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Profit
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Employment
84,021
Businesses
35,955
Industry Analysis & Industry Trends

Online insurance brokers have benefited in part from an increasing percentage of services conducted online and in part from the economic recession. The majority of insurance policies are now initiated online; however, most are still completed using an agent. The potential to convert more consumers to completing the purchase online points to stronger growth during the next five years. Accelerated revenue growth will be fostered by further consumer movement to online services, the improving economy and healthcare reform.... purchase to read more

Industry Report - Industry Key Buyers Chapter

The Online Insurance Brokers industry operates with a low level of market share concentration. In 2014, the largest player in the industry is anticipated to account for only 1.3% of total industry revenue. An estimated 35,955 companies operate in the industry, with the majority of these enterprises serving limited geographic markets and client bases. Industry-specific merger and acquisition activity picked up slightly over the five-year period, primarily a result of the implementation of the Patient Protection and Affordable Care Act. For example, in 2010, eHealth Inc. acquired PlanPrescriber, an online and pharmacy-based website aimed at helping seniors choose Medicare plans, for $28.7 million... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Online Insurance Brokers Industry?

This industry includes independent individuals and businesses that act as intermediaries between consumers and insurance carriers through online web portals and websites. Industry participants earn commission income from insurance carriers and may earn fee income for providing value-added services. Industry revenue includes sales that are initiated and completed online.

Industry Products
Personal P&C insuranceCommercial P&C insuranceLife and health insuranceOther annuity and insuranceAnnuities
 
Industry Activities
Property and casualty insurance policy brokerageHealth and medical insurance brokerageLife and accident insurance brokerageReinsurance brokerage and administrationAnnuity brokerage


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