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Insurance Brokerage Services in Europe Procurement Price, Data and Insights
This report is intended to assist buyers of insurance brokerage services. Vendors in this market help buyers across all industries purchase insurance coverage to protect their businesses. Market providers include brokers and agents, both of which act as intermediaries between buyers and insurance carriers. Specifically, brokers shop for the best insurance policies and coverage by evaluating the offerings of multiple insurance carriers. This report focuses on vendors that offer commercial insurance brokerage services to business clients. Typical clients include mining companies, oil companies, healthcare providers, and consumers.
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What’s included in this market coverage
IBISWorld's research coverage on the Insurance Brokerage Services procurement and pricing environment in Europe includes market dynamics, buyer power scores, supply chain vendors with pricing trends and forecasts.
About this Market
What’s this procurement report about?
This procurement coverage of the Insurance Brokerage Services market in Europe includes Insurance Agents and Policy Negotiation. Standard coding in this coverage includes ISIC-6622-Activities of insurance agents and brokers, NACE-66.22-Activities Of Insurance Agents And Brokers, NAICS-524210-Insurance Agencies and Brokerages and UNSPSC-84131520-Insurance broking fees and commission.
What common market terminology is included?
Common market terminology included in the Insurance Brokerage Services procurement coverage includes Premium (The price that the buyer will pay annually for insurance coverage.), Insurance Carrier (The company that underwrites policies, sets premiums, and processes claims for the insurance coverage that brokers and agents sell.), Risk Exposure (The potential loss that a buyer could face from an event that triggers an insurance claim.) and Underwriting (The process of evaluating the risk exposure of buyers, determining whether to insure them, and deciding how much they will pay for coverage.).
What companies are included as top suppliers?
The top companies covered in the Insurance Brokerage Services procurement report as suppliers are Eccelsia Holding GmbH, Check24 Vergleichsportal GmbH, Brown & Brown Inc., Lockton Companies Inc. and Hub International Ltd.
Opportunity Assessment
What’s included in the Opportunity Assessment chapter?
The Opportunity Assessment chapter provides a comprehensive market analysis of the Insurance Brokerage Services market in Europe category, including buyer power scoring, market pricing trends, vendor landscape, cost structure, and strategic negotiation levers.
The market pricing trends include the Market Price (2026) of insurance premium value, a five year price forecast and a supply chain risk score. Vendor coverage includes a market share and cost structure breakdown.
Analysis includes a comprehensive SWOT analysis of and recent developments impacting the Insurance Brokerage Services market environment.
Buyer Power Score
What’s included in the Buyer Power Score chapter?
The Buyer Power Score chapter assesses key components impacting Insurance Brokerage Services procurement including the recent price trend, forecast price trend, availability of substitutes, switching costs, product specialization, average vendor risk, market share concentration, supply chain risk, price driver volatility and recent price volatility.
These components generate a Buyer Power Score that ranges from -5 (strongly favoring sellers) to +5 (strongly favoring buyers) plus a recommended strategy for procurement specialists.
Price Environment
What’s included in the Price Environment chapter?
The Price Environment chapter covers detailed pricing analysis and datasets on Insurance Brokerage Services market environment. This includes insights into market pricing Market Price (2026), price forecasts, volatility, specialization, substitutes and switching costs.
Datasets in the Price Environment chapter include vendor cost structure, breakdowns of wage rates by geography and specialty, key external economic and labor drivers impacting the market and market pricing models.
Supply Chain & Vendors
What’s included in the Supply Chain & Vendors chapter?
The Supply Chain & Vendors chapter covers the concentration, risk and diversity of the Insurance Brokerage Services market. This includes datasets on the market’s top suppliers, detailed analysis on the key sourcing risks and supply chain dynamics, with environmental, social and governance (ESG) considerations and scores.
Business Requirements
What’s included in the Business Requirements chapter?
The Business Requirements chapter covers vendor relationships, qualifications, service level agreements and key performance indicators. These inputs provide insight into the planning process through the buying lead time, vendor relationship and vendor qualifications. The sourcing process include key RFP elements like an organizational overview, project budget, selection criteria, project schedule, proposal format, inventory control, cost containment, regulation, quality control, distribution and key contract clauses.
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Frequently Asked Questions
What is the current market price for Insurance Brokerage Services?
The 2026 benchmark market price for Insurance Brokerage Services is 16.15 of insurance premium value. Prices have increased at a CAGR of 1.38 from 2023-26.
Who are the top vendors in the Insurance Brokerage Services market?
The top vendors in the Insurance Brokerage Services market include Eccelsia Holding GmbH, Check24 Vergleichsportal GmbH, Brown & Brown Inc., Lockton Companies Inc. and Hub International Ltd.
What industries supply the Insurance Brokerage Services market?
The top industries supplying the Insurance Brokerage Services market are Legal Activities in Europe, Human Resources Provision in Europe, General Office Administrative Services in Europe and Furniture Manufacturing in Europe.
What is the supply chain risk for Insurance Brokerage Services?
Fragmented vendor landscape increases negotiation leverage, but requires rigorous vendor vetting. Buyers in the European insurance brokerage services market benefit from a low market share concentration, offering a wide selection of vendors and opportunities for competitive pricing. However, with medium vendor risk, buyers must invest in thorough vendor vetting, due diligence, and ongoing performance monitoring to avoid exposure to financially unstable or underperforming brokers. Implementing multi-vendor sourcing strategies and regular market reviews will help buyers capitalize on competition, while effectively managing vendor turnover risk.
What factors affect the price of Insurance Brokerage Services?
The level of service in insurance brokerage directly affects pricing, as higher service levels often involve more personalized support, extensive market research, and tailored policy negotiations, leading to increased operational costs for brokers. For example, a brokerage that provides comprehensive risk assessments and ongoing policy management may charge higher fees compared to a basic service provider that only facilitates initial policy purchases.
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