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Online Insurance Broker Market Global Perspective, Economic Growth and Segmentation by Companies | Arthur J. Gallagher, Brown & Brown, HUB International

03-18-2021 11:17 AM CET | IT, New Media & Software

Press release from: Worldwide Market Reports

Online Insurance Broker Market Global Perspective, Economic

The ‘Online Insurance Broker market’ research report added by Worldwide Market Reports, is an in-depth analysis of the latest developments, market size, status, upcoming technologies, industry drivers, challenges, regulatory policies, with key company profiles and strategies of players. The research study provides a market overview, Online Insurance Broker market definition, regional market opportunity, sales and revenue by region, manufacturing cost analysis, Industrial Chain, market effect factors analysis, Online Insurance Broker market size forecast, market data & Graphs and Statistics, Tables, Bar & Pie Charts, and many more for business intelligence.

The global Online Insurance Broker market report renders notable information about the Online Insurance Broker market by fragmenting the market into various segments. The global Online Insurance Broker market report delivers a comprehensive overview of the market’s global development including its features and forecast. It requires deep research studies and analytical power to understand the technology, ideas, methodologies, and theories involved in understanding the market.

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The insurance brokerage involves a person or broker as an intermediary between an insurance company and the consumer. This service aids consumers to find a policy as per their requirements. With the help of online insurance brokers, people can now easily get access to their desired insurance policies via online internet portals without any hassle. In order to understand the importance of online insurance brokers, one should know that these online brokers offer a wide range of products and services at a much convenient and at cheaper price than the local auto or insurance agents. The advent of online insurance brokers has indeed changed the face of the auto and insurance sector.

Drivers

The rising number of mortgage agreements and real-estate developments are expected to boost the growth of the global online insurance brokers market during the forecast period. According to India Brand Equity Foundation (IBEF), the real estate sector in India is expected to reach US$ 1 trillion by 2030.

The increasing volume of online transactions of insurance claims is expected to propel the growth of the global online insurance brokers market over the forecast period.

Improved risk management services are expected to drive the growth of the global online insurance brokers market over the forecast period.

Restraints

Lower investment in the insurance sector in emerging economies is expected to restrain the growth of the global online insurance brokers market during the forecast period.

The political protocols of the European Union (EU) will restrict the trade within the countries that are part of the union. Brexit deal or the U.K.’s departure from the EU will affect the insurance sector of Europe. This factor of the European region is expected to hinder the growth of the global online insurance brokers market over the forecast period.

Opportunities

Digitalization of the insurance industry can present lucrative growth Opportunities

Regional Insights

North America is expected to witness lucrative growth in the global online insurance brokers market during the forecast period. The increased volume of insurance transactions and the rising rates of insurance policy renewals are driving the growth of the online insurance brokers market in this region. As per the National Association of Insurance Commissioners, there were around 5,965 insurance companies in the U.S. alone by 2019.

Europe is expected to exhibit robust growth in the global online insurance brokers market. Technological advancements and the digitalization of the insurance sector are the driving factors for the growth of the online insurance brokers market in this region.

Competitive Section

The key players contributing in the global online insurance brokers market are Arthur J. Gallagher, Brown & Brown, HUB International, Marsh & McLennan(Jardine Lloyd Thompson Group), Meadowbrook Insurance Group, National Financial Partners, Online Business Insurance Brokers Pty Ltd, Beyer Insurance Limited, i-Brokers Limited, IntelliQuote, Quote Devil, and HDF Insurance.

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Key Developments

In February 2021, the American insurance and risk management company, Arthur J. Gallagher & Co. acquired the retail insurance company Air-Sur, Inc.

In February 2021, the global insurance company, HUB International acquired Galon Management Ltd. and the Saskatchewan-based John Galon Insurance Services Ltd.

Contact Us:
Mr. Shah
Worldwide Market Reports
Seattle, WA 98154,
U.S.
Email: sales@worldwidemarketreports.com

About Us:

Worldwide Market Reports is your one-stop repository of detailed and in-depth market research reports compiled by an extensive list of publishers from across the globe. We offer reports across virtually all domains and an exhaustive list of sub-domains under the sun. The in-depth market analysis by some of the most vastly experienced analysts provide our diverse range of clients from across all industries with vital decision making insights to plan and align their market strategies in line with current market trends. Worldwide Market Research’s well-researched inputs that encompass domains ranging from IT to healthcare enable our prized clients to capitalize upon key growth opportunities and shield against credible threats prevalent in the market in the current scenario and those expected in the near future.

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