Overview

IBISWorld’s Insurance Brokers & Adjusters 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

Industry Analysis & Industry Trends

In line with the development of China's insurance sector, the Insurance Brokers and Adjusters industry has grown steadily over the past five years. Revenue for the industry is expected to increase at an annualized rate of 20.3% over the five years through 2017, reaching $46.2 billion.

Industry entry barriers for professional intermediaries have increased over the past five years. In 2009, three new regulatory rules on professional agencies, insurance brokerages and insurance assessment institutions were released by the China Insurance Regulatory Commission (CIRC). According to the new rules, registered capital for professional intermediaries was increased significantly...

Industry Report - Industry Investment Chapter

Capital investment required in this industry is low as most participants operate on an individual basis and do not rely on capital investment to conduct business. However, for professional insurance intermediaries and concurrent-business insurance agents, investment is needed to purchase computer equipment and other office facilities.

Labor costs have been substantial with insurance salespeople receiving large commission fees. These are treated as total wages of this industry and account for a high proportion of total industry wages. As this industry is knowledge-intensive, insurance brokerage firms invest in research and development into new technologies and systems, and other consulting services.

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Additional Insights for the Insurance Brokers & Adjusters Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Insurance Brokers & Adjusters Industry are

  • Qualified work force
  • Having a loyal customer base
  • Having an extensive sales network
  • IBISWorld analysts also discuss how external factors such as Household Disposable Income and Industry Competition - Services to Insurance in the Insurance Brokers & Adjusters industry impact industry performance..

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    Industry Products

    What is the Insurance Brokers & Adjusters Industry?

    Insurance brokers and adjusters in China provide insurance assessments, adjustments, supervision and consulting.

    Industry Products
    Agent services provided by insurance salesmen
    Agent services provided by concurrent-business agencies
    Agent services provided by professional agencies
    Insurance brokerage services
    Insurance adjusting services
    Other insurance services
    Industry Activities
    Insurance agent activities
    Insurance broker activities
    Insurance consultant activities
    Administration supervision for insurance activities
    Other insurance support services, including actuary, compensation, investigation and adjustment services

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Household Disposable Income
  • Industry Competition - Services to Insurance
  • Industry Growth - Finance and Insurance
  • Population and Growth

  • Current Performance
  • Industry development
  • Chart: Revenue Growth

  • Industry Outlook
  • Table: Insurance Brokers & Adjusters Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Insurance Brokers & Adjusters Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Life Insurance Providers
  • Property, Car & Other Non-Life Insurance

  • Key Selling Industries
  • Life Insurance Providers
  • Property, Car & Other Non-Life Insurance

  • Products & Services
  • Agent services provided by insurance salesmen
  • Agent services provided by concurrent-business agencies
  • Agent services provided by professional agencies
  • Insurance brokerage services
  • Insurance adjusting services
  • Other insurance services
  • Chart: Insurance Brokers & Adjusters Industry Products and Services Segmentation

  • Demand Determinants
  • Personal disposable income
  • Economic activity
  • Service quality

  • Major Markets
  • Individuals
  • Vehicle owners
  • Enterprises (excluding insurance companies)
  • Cargo transporters
  • Other markets
  • Insurance companies
  • Chart: Major Market Segmentation for the Insurance Brokers & Adjusters Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Transportation and communication fees
  • Commissions and fees
  • Purchases
  • Chart: Cost Structure Benchmarking – Sector vs Insurance Brokers & Adjusters

  • Basis of Competition
  • Maintenance of customer base
  • Advanced technology and systems
  • Professional service
  • Sales networks

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Insurance Brokers & Adjusters Industry

  • Industry Globalization
    Major Companies
    CNinsure Inc.Chang'an Insurance Brokers Co., Ltd.Shenzhen Huakang Insurance Agency Co., Ltd.Union Insurance Broker Co., Ltd.Shenzhen Mintaian Insurance Surveyors & Loss Adjusters Co., Ltd.
  • Table: CNinsure Inc. - financial performance
  • Table: Chang'an Insurance Brokers Co., Ltd. - financial performance
  • Table: Shenzhen Huakang Insurance Agency Co., Ltd. - financial performance
  • Table: Union Insurance Broker Co., Ltd. - financial performance
  • Table: Shenzhen Mintaian Insurance Surveyors & Loss Adjusters Co., Ltd. - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Insurance Brokers & Adjusters Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Insurance Brokers & Adjusters Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Total Assets (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Actuary Services
  • The statistical calculation of insurance risks and premiums.
  • Life Insurance
  • Provides a monetary benefit to a decedent's family or other designated beneficiary, and may specifically provide for income to an insured person's family, burial, funeral and other final expenses.
  • Property Insurance
  • Provides protection against risks to property, such as fire, theft or weather damage.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Insurance Brokers & Adjusters:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Insurance Brokers & Adjusters market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Insurance Brokers & Adjusters, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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