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Dublin, March 25, 2022 (GLOBE NEWSWIRE) — The “Insurance Brokers & Agents Global Market Opportunities And Strategies To 2030, By Type, Mode, Insurance, End-User” report has been added to ResearchAndMarkets.com’s offering.
This report provides strategists, marketers and senior management with the critical information they need to assess the global insurance brokers & agents market as it emerges from the COVID 19 shut down.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 48+ geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
This report describes and explains the insurance brokers and agents market and covers 2015 to 2020, termed the historic period, and 2020 to 2025 termed the forecast period, along with further forecasts for the period 2025-2030. The report evaluates the market across each region and for the major economies within each region.
To take advantage of the opportunities, the publisher recommends the insurance brokers & agents companies to focus on technologies to aid automation of insurance, focus on cybersecurity as top priority, focus on providing exemplary customer services, focus on cover for pandemics, adoption of automated reinsurance platforms, expand operations in emerging markets, set up automated reinsurance platforms, scale up through merger and acquisition activity, provide competitively priced offerings, increase visibility through business websites, increase partnerships with banks, leverage social media to maximize reach, focus on younger population, and increasing influx of alternative capital.
The insurance brokers and agents market reached a value of nearly $350.24 billion in 2020, having increased at a compound annual growth rate (CAGR) of 3.7% since 2015. The market is expected to grow from $350.24 billion in 2020 to $457.31 billion in 2025 at a rate of 5.5%. The market is then expected to grow at a CAGR of 5.1% from 2025 and reach $585.50 billion in 2030.
Growth in the historic period resulted from strong economic growth in emerging markets, increasing healthcare costs, and government led insurance reforms. Factors that hindered the growth of the insurance brokers and agents market during the historic period include self-insuring, low insurance penetration, falling life insurance penetration rates, and lack of awareness.
Going forward, increase in chronic diseases and disabilities, impact of covid-19, and growth of the middle-class in emerging markets will drive the growth. Factors that could hinder the growth of the insurance brokers and agents market in the future include direct sales by insurance providers, additional charges, and non-investment grade.
The insurance brokers and agents market is segmented by type into insurance agencies, insurance brokers, bancassurance, and other intermediaries. The insurance agencies market was the largest segment of the insurance brokers and agents market segmented by type, accounting for 39.4% of the total in 2020. Going forward, the bancassurance market…
Full story available on Benzinga.com
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