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 Locations Chapter
The geographical distribution of insurance brokers generally reflects population trends. At the same time, the distribution of industry participants is also reflective of state regulations and weather patterns. Regions with high risks of natural disasters, like the Southeast, typically have a greater need for insurance coverage, higher insurance rates and, in turn, more brokers.
In 2012, the Southeast and Mid-Atlantic regions will account for an estimated 40.6% of industry employment. The Southeast region is expected to account for about 23.6% of total industry employment, while population is forecast to account for 25.2%. The region is also heavily exposed to natural disasters, particularly hurricanes... purchase to read more