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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 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
$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 Analysis Chapter

Over the five years to 2014, the Online Insurance Brokers industry has benefited from improvements in the macroeconomic landscape and an increasing propensity among consumers and businesses to complete insurance transactions online. Industry operators act as intermediaries between clients and insurance carriers through online web portals and websites, earning commission income through their brokering services. Stagnant premium prices and mounting external competition from insurance underwriters have posed key threats to the industry's performance over the five-year period. Yet, sharp growth in the percentage of services conducted online and substantial technological and marketing investments have continued to boost the awareness of industry operators... 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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