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Global Insurance Brokers & Agents Market 2023-2032 : Demand, Trend, Segmentation, Forecast, Overview And Top Companies Marsh & McLennan, Chubb Limited, Toyota Motor Corp, Arthur J. Gallagher & Co.
Insurance Brokers & Agents Market
As per the Insurance Brokers & Agents market report by The Business Research Company, insurance brokers and agents are investing in digital technologies to offer services online and thereby increase sales and boost margins. Digitalization is the process of converting information into digital formats.
The global insurance brokers & agents market grew from $415.14 billion in 2022 to $450 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The insurance brokers & agents market is expected to grow to $597.89 billion in 2027 at a CAGR of 7.4%.
Read More On The Insurance Brokers & Agents Market Report Here:
https://www.thebusinessresearchcompany.com/report/insurance-brokers-and-agents-global-market-report
Major competitors in the Insurance Brokers & Agents market include Marsh & McLennan, Chubb Limited, Toyota Motor Corp, Arthur J. Gallagher & Co., Bank of China, Hub International, Willis Towers Watson, Brown & Brown, BB&T Insurance Holdings Inc., and Jardine Matheson.
The Insurance Brokers & Agents market is segmented -
• By Type: Insurance Agencies, Insurance Brokers, Bancassurance, Other Intermediaries
• By End User: Corporate, Individual
• By Mode: Online, Offline
• By Insurance: Life Insurance, Property And Casualty Insurance, Health And Medical Insurance
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Insurance Brokers & Agents market.
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An insurance broker is interested in selling, purchasing, or negotiating various financial products best suited to their individual client's needs in exchange for compensation. An insurance agent sells, negotiates, or promotes financial products on behalf of their employer. They serve as the company's sales representatives for its financial products. While an insurance agent works for the company they are employed by, an insurance broker represents you as the client.
The Table Of Content For The Insurance Brokers & Agents Market Include:
1. Executive Summary
2. Report Structure
3. Insurance Brokers & Agents Market Characteristics
4. Insurance Brokers & Agents Market - Macro Economic Scenario
5. Insurance Brokers & Agents Market Product Analysis
………
23. Recommendations
24. Appendix
25. Copyright And Disclaimer
The "Global Insurance Brokers & Agents Market Report 2023" from The Business Research Company is a comprehensive report that covers every facet of a market covering over 60 geographies and over 2500 market segments. The regional and country breakdowns section analyzes the market in each geography and the market size by region and country. Furthermore, it assesses the market's historical and projected growth and identifies significant trends and strategies that companies can leverage for business expansion.
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