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 - Starting a New Business Chapter
The Online Insurance Brokers industry operates with low barriers to entry. The industry's market is highly fragmented, with the industry's massive number of operators leading to a very low level of market share concentration. Similarly, while the industry relies heavily on skilled employees, licensing regulations largely do not pose a significant threat to the size of the industry's labor force. Moreover, according to the latest available data, employment for insurance sales agents is anticipated to grow at an average pace from 2012 to 2022, providing an incentive for individuals to obtain the skills to enter this profession.
Yet, to successfully compete with the industry's largest players, a significant amount of investment is required... purchase to read more