Press release
2025-2034 Insurance Brokers & Agents Market Outlook: Key Drivers, Emerging Challenges, and Strategic Insights
Insurance Brokers & Agents Market
Insurance Brokers & Agents Market Size Growth Forecast: What to Expect by 2025?
In recent times, there has been significant growth in the market size of insurance brokers & agents. The market, which stood at $464.66 billion in 2024, is projected to expand to $496.24 billion in 2025, showing a compound annual growth rate (CAGR) of 6.8%. This growth during the historic period can be linked to the robust economic development in emerging markets, the rise in healthcare expenses, and insurance reforms led by the government.
How Will the Insurance Brokers & Agents Market Size Evolve and Grow by 2029?
The market size for insurance brokers and agents is predicted to witness substantial growth in the upcoming years, escalating to a value of $637.12 billion by 2029 while growing at a compound annual growth rate (CAGR) of 6.4%. This growth during the forecast period can be explained by the rise in chronic illnesses and disabilities, the effects of COVID-19, and the burgeoning middle class in nascent markets. Prominent trends anticipated during this forecast period encompass the uptake of artificial intelligence-based digital insurance portals and distribution networks, strategic partnerships with banking organizations, and the occurrences of mergers and acquisitions.
View the full report here:
https://www.thebusinessresearchcompany.com/report/insurance-brokers-and-agents-global-market-report
What Drivers Are Propelling the Growth of Insurance Brokers & Agents Market Forward?
Digital technologies are garnering increasing interest from insurance brokers and agents as a means to elevate their services to the online platform, which is poised to escalate sales and pump up profit margins. The conversion of information into digital formats, known as digitalization, equips agents and brokers with numerous resources and tools through insurance portals, exchange websites, and digital distribution networks. These digital interfaces, designed to augment business processing efficiency and cut down costs, are web-based. According to a survey on the digital transformation of insurance, web-based portals, offered by 39% of agents, empower customers by allowing them to initiate changes to their policy, validate policy details and payments, report claims, download insurance ID cards and insurance certificates. Moreover, an increasing 78% of agents are utilizing social media platforms like Facebook (78%) and LinkedIn (68%) to acquire new clientele. Renowned insurance corporations such as Marsh & McLennan Cos., Inc., Willis Towers Watson P.L.C., and Aon P.L.C. are among those offering insurance portals and digital distribution channels.
Get your free sample here:
https://www.thebusinessresearchcompany.com/sample.aspx?id=2154&type=smp
Which Emerging Trends Are Transforming the Insurance Brokers & Agents Market in 2025?
Top firms in the insurance broker and agent sector are moving towards new intelligent platforms to cement their market position. These smart insurance broker platforms are software solutions engineered to assist brokers and agents in optimizing their business undertakings. For example, in April 2023, a bridge platform advancing wholesale insurance brokers' objectives was introduced by Limit Inc., a US firm specializing in mobile applications and web platforms. The digital platform makes it possible for insurance representatives to instantly secure commercial line quotes from their chosen carriers. The platform facilitates brokers to directly quote with carriers, simplifying the process and boosting efficiency. Aimed at enhancing the efficiency and user experience of insurance brokers, the platform provides instant information and access to a broader selection of carriers.
What Are the Key Segments in the Insurance Brokers & Agents Market?
The insurance brokers & agents market covered in this report is segmented -
1) By Type: Insurance Agencies, Insurance Brokers, Bancassurance, Other Intermediaries
2) By Insurance: Life Insurance, Property And Casualty Insurance, Health And Medical Insurance
3) By Mode: Online, Offline
4) By End User: Corporate, Individual
Subsegments:
1) By Insurance Agencies: Captive Insurance Agencies, Independent Insurance Agencies
2) By Insurance Brokers: Retail Insurance Brokers, Wholesale Insurance Brokers
3) By Bancassurance: Bank-Affiliated Insurance Products, Integrated Banking and Insurance Services
4) By Other Intermediaries: Online Insurance Platforms, Insurance Consultants, Financial Advisors Providing Insurance Products
Tailor your insights and customize the full report here:
https://www.thebusinessresearchcompany.com/customise?id=2154&type=smp
Who Are the Key Players Shaping the Insurance Brokers & Agents Market's Competitive Landscape?
Major companies operating in the insurance brokers & agents market include Marsh & McLennan Cos Inc, Aon PLC, Arthur J Gallagher & Co, Willis Towers Watson PLC, Brown & Brown Inc., Truist Insurance Holdings Inc., Lockton Companies Inc, Acrisure LLC, USI Insurance Services LLC, HUB International Limited, Beacon Insurance Brokers Pvt. Ltd., Urjita Insurance Brokers Pvt. Ltd., Mahindra Insurance Brokers Limited, EFFICIENT Insurance Brokers Pvt. Ltd., VIBHUTI INSURANCE BROKERS PVT. LTD., UNISON Insurance Broking Services Pvt. Ltd., UIB Insurance Brokers Private Limited, MGA Insurance Brokers, Mega Capital, Roderick Insurance Brokers, Unity Insurance Brokers, Insurance Advisernet Australia, Fanhua Inc., Chang'an Insurance Brokers Co., Ltd., Mintaian Insurance Surveyors & Loss Adjusters Group Co., Ltd., Shenzhen Huakang Insurance Agency Co., Ltd., Union Insurance Broker Co., Ltd., JiangTai Insurance Broker Co. Ltd., Air Union Insurance Brokers Co. Ltd., Huatai Insurance Agency & Consultant Service Ltd., Willis Insurance Brokers Co. Ltd., Lloyd's of London Limited (UK), Funk Gruppe GmbH, Ecclesia Holding GmbH, Insurance Brokers LLC, MAI Insurance Brokers Poland Sp. z o.o., Meijers Assurantiën B.V., International Insurance Brokers s.r.o., Arthur J. Gallagher, Lockton Inc., Alliant Insurance Services, Inc., NFP Corp., Assured Partners Inc., CBIZ, Inc., Canadian Insurance Brokers Inc., iCare Insurance Brokers, ALIGNED Insurance Inc., Novamar Insurance Mexico, JAH Insurance Brokers Corp, THB MEXICO, Intermediario de Reaseguro, S.A. de C.V., TTMS Argentina S.A., 123Seguro, Insur Insurance Company S.A., SRC Brokers, Lockton Brasil Corretora de Seguros Ltda, Uai Brazil Insurance Broker, ALC Corretora de Seguros, Capital Shield Insurance Brokers L.L.C., Nexus Insurance Brokers LLC, Wehbe Insurance Services LLC, New Shield Insurance Brokers LLC, Unitrust Insurance Broker LLC, Gulf Oasis Insurance Brokers LLC, Earnest Insurance Brokers LLC, Al Noor Insurance Broker, Arab Orient Insurance Brokers, Lusail Insurance Brokers, Glenrand MIB Limited, Howden, Northlink Insurance Brokers, Carrier Insurance Brokers, Glanvills Enthoven, Union Commercial Insurance Broker
What Geographic Markets Are Powering Growth in the Insurance Brokers & Agents Market?
North America was the largest region in the global insurance brokers & agents' market, accounting for in 2024. Western Europe was the second largest region insurance brokers & agents' market. The regions covered in the insurance brokers & agents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Purchase the full report today:
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=2154
This Report Supports:
1. Business Leaders & Investors - To identify growth opportunities, assess risks, and guide strategic decisions.
2. Manufacturers & Suppliers - To understand market trends, customer demand, and competitive positioning.
3. Policy Makers & Regulators - To track industry developments and align regulatory frameworks.
4. Consultants & Analysts - To support market entry, expansion strategies, and client advisory work.
Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.
Contact Us
Europe: +44 7882 955267,
Asia: +91 88972 63534,
Americas - +1 310-496-7795 or
Email: mailto:info@tbrc.info
Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release 2025-2034 Insurance Brokers & Agents Market Outlook: Key Drivers, Emerging Challenges, and Strategic Insights here
News-ID: 4104210 • Views: …
More Releases from The Business Research Company
Environmental Consciousness Fuels The Surge In Ethical Fashion: A Key Catalyst A …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
How Large Will the Ethical Fashion Market Size By 2025?
The market size of ethical fashion has experienced robust growth in the last few years. Its value is forecasted to rise from $8.77 billion in 2024 to $9.48 billion in 2025, registering a compound annual growth rate (CAGR) of…
Kidney Cancer Drugs Market Growth Accelerates: Strategic Forecast Predicts $10.4 …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
Kidney Cancer Drugs Market Size Growth Forecast: What to Expect by 2025?
In the past several years, the market size for kidney cancer drugs has seen robust growth. Expected to rise from $8.2 billion in 2024 to $8.63 billion in 2025, with a compound annual growth rate (CAGR) of…
Top Market Shifts Transforming the IT Services Market Landscape: Key Insights
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
How Large Will the IT Services Market Size By 2025?
The growth in the IT services market has been significant in the past few years. The market is projected to expand from $3444.7 billion in 2024 to $3703.41 billion in 2025, with a compound annual growth rate (CAGR) of…
Future of the Engineering Services Market: Trends, Innovations, and Key Forecast …
Use code ONLINE30 to get 30% off on global market reports and stay ahead of tariff changes, macro trends, and global economic shifts.
What Will the Engineering Services Industry Market Size Be by 2025?
The substantiality of the engineering services market has consistently amplified over the previous years. From $1113.21 billion in 2024, it's projected to scale up to $1151.36 billion in 2025, scoring a compound annual growth rate (CAGR) of 3.4%.…
More Releases for Insur
Boat Insurance Market 2019: Major Players By Zurich AXA AVIVA State Farm Allianz …
Boat Insurance is hull insurance that covers damage to a boat, its machinery and its equipment. It refers to the main body of the ship and it can be understood like car insurance, with a difference of being for a water faring vehicle instead of land. It covers all types of vessels operating into the oceans, lakes, or rivers like bulk carriers, fishing boats, ships, tankers, cruises, yachts.
Request a Sample…
Global Demand of Child Health Insurance Market will Boom in Forthcoming Year by …
Global Child Health Insurance Market is expected to grow with a CAGR of +14% during forecast period 2019 to 2025. The report is commenced by approximating the size of the current market, giving a basic idea for predicting the future growth of the market. The market subtleties such as market profits, challenges, opportunities, and inclinations have been offered together with their one-to-one impact analysis. The impact analysis helps in collecting…
Cyber Insurance Software Market New Growth By Top Key Players Cryptzone, Splunk, …
Global Cyber Insurance Software market from the in depth perspective of all the ongoing trends that are affecting the market and are important to be understood are studied. These trends are geographical, economic, socioeconomic, political, cultural, political, and many other are studied. Cyber security insurance is an agreement that an individual or substance can buy to help diminish the monetary dangers related with working together on the web. In return…
Health Insurance Market Latest Trends, Business Competitors & Key Companies with …
The health insurance market Report deliver comprehensive analysis of the market structure along with forecast of the various segments and sub-segments of the market. This report is a through synopsis of the Study done on health insurance market’s key vendor revenues, development of the industry by upstream & downstream, industry progress, key companies, along with type segment & market applications. Analysis and discussion of important industry trends, market size, market…
Global Insurance Agency Software Market Size, Opportunities and Revenue, Analysi …
This report studies the global Insurance Agency Software Market size, industry status and forecast, competition landscape and growth opportunity. This research report categorizes the global Protein Analyzer market by companies, region, type and end-use industry.
Major Players: CoVertafore, Applied Systems, EZLynx, ACS, ITC, HawkSoft, QQ Solutions, Sapiens/Maximum Processing, Zywave, Xdimensional Tech, Agency Matrix, Jenesis Software, AgencyBloc, AllClients, Impowersoft, Insur et al.
Request a Sample Report :- https://www.researchreportsinc.com/sample-request?id=217438 .
Research Reports…
Future Growth in Global IoT Insurance Market growth analysis, development status …
The Internet of Things (IoT) is coming to Insur Tech. One heads up the IoT business for a major telco, the other has over 20 years’ experience in loss adjusting. These IP addressable items will include white goods, door and window locks, smoke detectors and every electrical device. It is no surprise that insurers see the massive Insur Tech opportunity from IoT. Last month, an Accenture blog reported that 39%…
