Overview

IBISWorld’s Procurement Research Reports cover thousands of indirect purchasing lines. Our data and analysis help you strategically engage and negotiate with suppliers and give you the credibility to work with internal stakeholders and executives. IBISWorld’s Insurance Brokerage Services procurement research provides price trends and forecasts, supplier benchmarks and negotiation questions all intended to give your company leverage during the sourcing process.
doneBenchmark Price
doneRFP/RFQ/Negotiation Questions
done3 Year Price Forecast
doneSupply Chain Analysis
doneSupplier Intelligence
doneSample Buyer Decision Scorecard
REPORT SNAPSHOT

Insurance Brokerage Services - Recent Price Trend

During the three years to 2017, the average price of insurance brokerage services has increased an estimated 0.3 percentage points. This increase in price is the result of strengthening demand for services and rising overhead costs. Although the rate of price growth has been slow and stable, the increase in service prices has still negatively affected buyer power.Demand for insurance brokerage...

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Insurance Brokerage Services - Total Cost of Ownership

Total cost of ownership for insurance brokerage services is low. Therefore, buyers can typically expect to pay less than 50.0% of the benchmark price in additional annual fees. Insurance brokers and agents generally have few hidden fees because their contracts state that they provide full service for the duration of the insurance policy. Consequently, the commissions of most brokers and agents,...

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About this Report

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 primarily on vendors that offer commercial insurance brokerage services to business clients. This report does not include consumer insurance, insurance carriers that sell directly to buyers, insurance claims processing services or risk management consulting services.

Table of Contents

At a Glance

Executive Summary

Price Environment
 Price Fundamentals
  Benchmark Price
  Pricing Model
 Price Drivers
 Input Cost Drivers
 External Demand Drivers
 Recent Price Trend
 Price Forecast

Product Characteristics
 Product Life Cycle
 Total Cost of Ownership
 Product Specialization
 Related Goods
 Subsitute Goods
 Regulation
 Quality Control
Supply Chain & Vendors
 Supply Chain Dynamics
  Supply Chain Risk
  Geographic Locations
  Imports
 Competitive Environment
  Market Share Concentration
  Vendor Company Types
 Market Profitability
 Switching Cost

Purchasing Process
 Buying Basics
 Buying Lead Time
  Selection Process
  Buying-Decision Scorecard
 Key RFP Elements

Negotiation Questions

Buyer Power Score Components

Jargon & Glossary

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