Insurance Brokers & Agents Market Size, Growth, Trends, and Forecast Report 2020-2030 | Covid19 Impact and Recovery

The Business Research Company offers "Insurance Brokers & Agents Global Market Report 2020-30: Covid 19 Impact And Recovery" in its research report store. It is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country. It also compares the market’s historic and forecast growth, and highlights important trend s and strategies that players in the market can adopt.

The global insurance brokers & agents market is expected to decline from $362.7 billion in 2019 to $358.3 billion in 2020 at a compound annual growth rate (CAGR) of -1.2%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 6% from 2021 and reach $426.6 billion in 2023.

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The insurance brokers and agents market consists of sales of insurance policies by entities (organizations, sole traders and partnerships) and individuals that act as intermediaries (i.e., agents, 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. This market excludes the direct selling of insurance products by insurance companies. The value of the market is based on the fees or commissions paid to brokers by the insured, both commercial and personal.

Bancassurance is gaining prominence within the insurance intermediation industry. This distribution channel is being used by banks to cross-sell its products and services and generate additional revenue. Bancassurance also benefits the insurance company by providing an exposure to a wider customer base via the bank’s distribution network of agents and branches. The adoption of more diversified and enhanced products offered by banks is expected to drive the bancassurance market at a CAGR of nearly 8% to 2019.

Insurance Brokers & Agents Market Segmentation:
By Type
1. Insurance Agencies
2. Insurance Brokers
3. Bancassurance
4. Other Intermediaries

By End User:
1. Corporate
2. Individual

By Mode:
1.Online
2.Offline

By Insurance:
1.Life Insurance,
2.Health & Medical Insurance
3.Property & Casualty Insurance

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Few Points From Table Of Content
1. Executive Summary
2. Report Structure
3. Insurance Brokers & Agents Market Characteristics
4. Insurance Brokers & Agents Market Product Analysis
5. Insurance Brokers & Agents Market Supply Chain
……
20. Key Mergers And Acquisitions In The Insurance Brokers & Agents Market
21. Market Background: Insurance (Providers, Brokers and Re-Insurers) Market
22. Recommendations
23. Appendix
24. Copyright And Disclaimer

The report covers the trends and market dynamics of the Insurance Brokers & Agents market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.

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Some of the key players involved in the Insurance Brokers & Agents market are Marsh & McLennan Cos Inc, Willis Towers Watson PLC, Aon PLC, Arthur J Gallagher & Co, Brown & Brown Inc

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