Overview

Take a risk: Industry demand has risen, leading to strong profit growth for operators

IBISWorld’s Risk Management, Insurance Advisory & Consulting 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 Threats & Opportunities

  • Insurance premiums will likely rise, increasing demand for industry services
  • Improving macroeconomic conditions have caused profit margins to rise
  • In response to increasing competition, major players are anticipated to consolidate

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    Industry Analysis & Industry Trends

    The Risk Management, Insurance Advisory and Consulting industry is composed of operators providing insurance services on a contract or fee basis to insurance companies and other clients engaged in underwriting or reinsuring policies. Demand for risk management, insurance advisory and consulting services has risen over the past five years, leading to strong profit and revenue growth for industry operators. Over the next five years, conditions are expected to continue to be favorable for industry operators. Insurance premiums will likely rise, boosting their spending power and increasing demand for industry services. Furthermore, new opportunities will arise in healthcare and construction markets as stronger construction activity and new regulation (i.e...

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    Industry Report - Starting a New Business Chapter

    The industry has low barriers to entry. During the past five years, technological changes have lowered barriers and enabled owner-operators to establish a strong reputation in the field. Industry participants can also connect more easily and efficiently with their clients and communicate over different geographic areas.

    Because operators rely on the employees' expertise, barriers to entry are minimal apart from experience and education in the risk and insurance fields. Additional barriers to entry include building a client base, acquiring business and a moderate level of regulation. Regulation somewhat acts as a barrier to entry, depending on the individual state. Fin..

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    Additional Insights for the Risk Management, Insurance Advisory & Consulting Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Risk Management, Insurance Advisory & Consulting Industry are

  • Access to highly skilled workforce
  • Undertaking technical research and development
  • Ability to vary services to suit different needs
  • IBISWorld analysts also discuss how external factors such as Demand from insurance brokers and agencies and Business sentiment index in the Risk Management, Insurance Advisory & Consulting industry impact industry performance..

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    Look under the hood?

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    Industry Products

    What is the Risk Management, Insurance Advisory & Consulting Industry?

    The Risk Management, Insurance Advisory & Consulting industry provides insurance advisory and risk management services to insurers and other businesses.

    Industry Products
    Insurance support services
    Insurance consulting and advisory services
    Other services
    Industry Activities
    Providing risk management services
    Providing insurance advisory services
    Providing other consulting 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
  • Demand from insurance brokers and agencies
  • Business sentiment index
  • Number of businesses
  • Outsourcing to the Business Services sector
  • Natural disaster index

  • Current Performance
  • Volatility boosts business
  • Insurance markets on the rise
  • Communications and credibility
  • Chart: Revenue Growth

  • Industry Outlook
  • Fragmenting operations
  • Favorable insurance cycle
  • Industry landscape
  • Table: Risk Management, Insurance Advisory & Consulting Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Risk Management, Insurance Advisory & Consulting Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Life Insurance & Annuities
  • Health & Medical Insurance
  • Property, Casualty and Direct Insurance
  • Reinsurance Carriers
  • Retirement & Pension Plans
  • Health & Welfare Funds

  • Key Selling Industries
  • Health & Medical Insurance
  • Health & Welfare Funds
  • Life Insurance & Annuities
  • Property, Casualty and Direct Insurance
  • Retirement & Pension Plans
  • Workers' Compensation & Other Insurance Funds

  • Products & Services
  • Insurance consulting and advisory services
  • Insurance support services
  • Other services
  • Chart: Risk Management, Insurance Advisory & Consulting Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Health and medical insurance companies
  • Property, casualty and direct insurance companies
  • Insurance brokers and agencies
  • Third-party administrators and insurance claim adjusters
  • Reinsurance carrier companies
  • Life insurance companies
  • Chart: Major Market Segmentation for the Risk Management, Insurance Advisory & Consulting Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Purchases
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Risk Management, Insurance Advisory & Consulting

  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Risk Management, Insurance Advisory & Consulting Industry

  • Industry Globalization
    Major Companies
    Marsh & McLennan Companies Inc.Aon CorporationWillis Towers Watson PLC
  • Table: Marsh & McLennan Companies Inc. - financial performance
  • Table: Aon Corporation - financial performance
  • Table: Willis Towers Watson PLC - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Risk Management, Insurance Advisory & Consulting 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 Risk Management, Insurance Advisory & Consulting Industry
    Includes:
  • Industry Revenue (2007-2021)
  • Industry Gross Product (2007-2021)
  • Establishments (2007-2021)
  • Businesses (2007-2021)
  • Employment (2007-2021)
  • Wages (2007-2021)
  • Business sentiment index (2007-2021)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Captive Insurer
  • An insurance company established with the specific objective of insuring risks emanating from their parent group or groups, but they sometimes also insure risks of the group's customers.
  • Hard Market
  • A period of increasing insurance prices as the demand for insurance overshoots supply. The supply of insurance depends on insurers' capital position.
  • Insurance Service Provider
  • A company that offers insurance services, including claims adjustment, third-party insurance fund administration, claims processing administration, and actuarial, consultancy and advisory services.
  • Soft Market
  • A period of falling insurance prices, as the supply of insurance is greater than demand, which often leads to increased price competition.
  • 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 Risk Management, Insurance Advisory & Consulting:
    • 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 Risk Management, Insurance Advisory & Consulting 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 Risk Management, Insurance Advisory & Consulting, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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