(MENAFN- EIN Presswire) Insurance Brokers & Agents market 2022 - Opportunities And Strategies – Global Forecast To 2030
The Business Research Company's Insurance Brokers & Agents Market 2022 - Opportunities And Strategies – Global Forecast To 2030
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As per The Business Research Company's 'Insurance Brokers & Agents Global Market Report 2022”, the 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 insurance brokers and agents market is expected to grow from $350.24 billion in 2020 to $457.31 billion in 2025 at a rate of 5.5%. The insurance brokers and agents market is then expected to grow at a CAGR of 5.1% from 2025 and reach $585.50 billion in 2030. The rising demand for insurance due to the COVID-19 situation is expected to positively impact the insurance brokers & agents market.
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Key Trends In The Insurance Brokers & Agents Market
The increasing demand for artificial intelligence (AI) in insurance is an emerging trend in the insurance brokers and agents market. AI is the simulation of human intelligence processes by machines, especially computer systems, with the potential to surpass human intelligence levels. AI is also used to find efficiency gains within insurance companies. Brokers are continuing to boost investments in artificial intelligence (AI), automation and big data while expanding the use of mobile devices.
The insurance brokers and agents market consist of sales of insurance policies by entities (organizations, sole traders and partnerships) and individuals that act as intermediaries (agents and brokers) in selling annuities and insurance policies. They represent consumers or insurance providers or both in insurance premium collection. Insurance brokers and agents can be contracted with single or multiple insurance companies as they try to meet different client needs with available insurance products.
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Insurance Brokers & Agents Global Market Report 2022 from TBRC covers the following information:
Market Size Data
•Forecast period: Historical and Future
•By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Market Segmentation
•By Type - Insurance Agencies, Insurance Brokers, Bancassurance, Other Intermediaries
•By Mode – Online, Offline
•By Insurance – Life Insurance, Property & Casualty Insurance, Health & Medical Insurance
•By End-User – Individuals, Corporate
•By Geography: The global insurance brokers & agents market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America holds the largest share in the market.
Major market players such as Marsh & McLennan Cos Inc, Aon PLC, Arthur J Gallagher & Co, Willis Towers Watson PLC, Brown & Brown Inc.
Trends, opportunities, strategies and so much more.
Insurance Brokers & Agents Global Market Report 2022 is one of The Business Research Company's comprehensive reports that provides an overview of insurance brokers & agents market. The market report gives insurance brokers & agents market analysis, insurance brokers & agents global market size, insurance brokers & agents global market growth drivers, insurance brokers & agents global market share, insurance brokers & agents global market segments, insurance brokers & agents global market major players, insurance brokers & agents market growth across geographies, and insurance brokers & agents market competitors' revenues and market positioning. The insurance brokers & agents market report enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.
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The Business Research Company has published over 3000 industry reports, covering over 3000 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets.
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