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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 | Mar 2016

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

IBISWorld’s Online Insurance Brokers market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Market Share of Companies
There are no companies with a dominant market share
Industry Statistics & Market Size
Revenue
$13bn
Annual Growth 11-16
6.2%
Annual Growth 16-21
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Profit
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Employment
76,805
Businesses
32,089
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 Products Chapter

Property and casualty (P&C) insurance

The majority of the industry's commissions are derived from brokering P&C insurance, with these lines estimated to account for 56.6% of total industry revenue in 2016. P&C insurance covers the property and liability losses of businesses and consumers, including those that result from car accidents, costs associated with lawsuits stemming from faulty products and professional misconduct, among other events. For commercial P&C insurance specifically, the largest segments include workers' compensation, general liability and commercial automobile insurance. In 2016, commissions from commercial P&C insurance are anticipated to represent 29.6% of total industry revenue... 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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