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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 | May 2012

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

The Online Insurance Brokers market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
$17bn
Annual Growth 07-12
4.9%
Annual Growth 12-17
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Profit
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Employment
292,704
Businesses
114,284
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. These factors contribute to estimated revenue growth of 4.9% per year on average during the five years to 2012, including 8.6% growth in 2012 that will push revenue to $16.9 billion. 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. Annualized revenue growth is forecast to accelerate to 14.2% during this period, fostered by further consumer movement to online services, the improving economy and healthcare reform.... purchase to read more

Industry Report - Industry Investment Chapter

The level of capital investment in the Online Insurance Brokers industry varies according to the size of the firm. Some of the largest industry participants have established extensive distribution networks where large amounts of capital have been invested, which enables these service providers to source solutions in various markets within the United States and throughout the world. Alternatively, nonemploying firms have a very low level of capital investment since many of these sole operators work from a very small or mobile office and use relatively simple technology... 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
Web-based auto insurance brokeringWeb-based commercial insurance brokering
 
Industry Activities
Annuity brokerage Life and health insurance policy brokerageProperty and casualty insurance policy brokerageReinsurance brokerage and administrationRisk management consulting


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