Insurance Brokerage Market By Insurance Type (Life Insurance and Property & Casualty Insurance), and Brokerage Type (Retail Brokerage and Wholesale Brokerage): Global Opportunity Analysis and Industry Forecast, 2020–2027

Insurance Brokerage Market By Insurance Type (Life Insurance and Property & Casualty Insurance), and Brokerage Type (Retail Brokerage and Wholesale Brokerage): Global Opportunity Analysis and Industry Forecast, 2020–2027

An insurance broker is an intercessor who sells, asks, or negotiates for insurance policies on behalf of their clients with multiple insurers. An insurance broker is completely different from an insurance agent. It is advisable to consumers and business owners to go for insurance policies through broker rather than on own because brokers have the experience to guide their clients to the right policies with the proper level of coverage. Furthermore, digital platforms are being deployed by insurance brokerage firms for brand promotion and trust-building in a competitive market. Insurance brokers need to educate themselves about technology in order to essentially evolve their role as experts and trusted advisors who foresee and minimize risks. In this way insurance broker can play a balancing role between physical clients and digital technologies.

Increased demand for insurance policies, integration of IT & analytic solutions, and providing professional solutions and services are the major factors that drive the growth of the global insurance brokerage market. Moreover, direct purchases of insurance policies by customers and massive availability of alternative platforms for purchasing insurance policy hamper the growth of the market. Furthermore, implementation of technologies in existing products and service lines and government initiatives regarding insurance policies are expected to provide lucrative opportunity for the market expansion during the forecast period.

The global insurance brokerage market is segmented on the basis of insurance type, brokerage type, and region. In terms of types, it is fragmented into life insurance and P&C insurance. Depending on brokerage type, it is bifurcated into retail brokerage and wholesale brokerage. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the insurance brokerage market report are Acrisure, LLC, Aon plc, Brown & Brown, Inc, Gallagher, HUB International Limited, Lockton companies, Marsh & McLennan Companies Inc., Truist Insurance Holdings, USI Insurance Services L.L.C, and Willis Towers Watson. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

Key Benefits For Stakeholders

The study provides an in-depth analysis of the global insurance brokerage market along with the current trends and future estimations to elucidate the imminent investment pockets.
Information about key drivers, restraints, and opportunities and their impact analysis on the global insurance brokerage market size is provided in the report.
Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
The quantitative analysis of the market from 2019 to 2027 is provided to determine the market potential.

Key Market Segments

By Insurance Type

Life Insurance
Property & Casualty Insurance

By Brokerage Type

Retail Brokerage
Wholesale Brokerage

By Region

North America
U.S.
Canada
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Singapore
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa

Key Market Players

Acrisure, LLC
Aon plc
Brown & Brown, Inc
Gallagher
HUB International Limited
Lockton Companies
Marsh & McLennan Companies Inc.
Truist Insurance Holdings
USI Insurance Services LLC
Wills Towers Watson


CHAPTER 1: INTRODUCTION
1.1.REPORT DESCRIPTION
1.2.KEY MARKET SEGMENTS
1.3.KEY BENEFITS
1.4.RESEARCH METHODOLOGY
1.4.1.Primary research
1.4.2.Secondary research
1.4.3.Analyst tools and models
CHAPTER 2:EXECUTIVE SUMMARY
2.1.CXO PERSPECTIVE
CHAPTER 3:MARKET LANDSCAPE
3.1.MARKET DEFINITION AND SCOPE
3.2.KEY FINDINGS
3.2.1.Top investment pockets
3.2.2.Top winning strategies
3.3.PORTER'S FIVE FORCES ANALYSIS
3.3.1.Bargaining power of suppliers
3.3.2.Threat of new entrants
3.3.3.Threat of substitutes
3.3.4.Competitive rivalry
3.3.5.Bargaining power among buyers
3.4.MARKET SHARE ANALYSIS/TOP PLAYER POSITIONING 2019
3.5.MARKET DYNAMICS
3.5.1.Drivers
3.5.2.Restraints
3.5.3.Opportunities
CHAPTER 4:INSURANCE BORKERAGE MARKET BY INSURANCE TYPE
4.1.OVERVIEW
4.2.LIFE INSURANCE
4.2.1.Key market trends, growth factors and opportunities
4.2.2.Market size and forecast, by region
4.2.3.Market share analysis, by country
4.3.PROPERTY AND CASUALTY INSURANCE
4.3.1.Key market trends, growth factors and opportunities
4.3.2.Market size and forecast, by region
4.3.3.Market share analysis, by country
CHAPTER 5: INSURANCE BORKERAGE MARKET BY BROKERAGE TYPE
5.1.OVERVIEW
5.2.RETAIL BROKERAGE
5.2.1.Key market trends, growth factors and opportunities
5.2.2.Market size and forecast, by region
5.2.3.Market share analysis, by country
5.3.WHOLESALE BROKERAGE
5.3.1.Key market trends, growth factors and opportunities
5.3.2.Market size and forecast, by region
5.3.3.Market share analysis, by country
CHAPTER 6: INSURANCE BORKERAGE MARKET BY REGION
6.1.OVERVIEW
6.2.NORTH AMERICA
6.2.1.Key market trends and opportunities
6.2.2.Market size and forecast, by insurance type
6.2.3.Market size and forecast, by brokerage type
6.2.4.Market size and forecast, by Country
6.2.5.US
6.2.5.1.Market size and forecast, by insurance type
6.2.5.2.Market size and forecast, by brokerage type
6.2.6.Canada
6.2.6.1.Market size and forecast, by insurance type
6.2.6.2.Market size and forecast, by brokerage type
6.3.EUROPE
6.3.1.Key market trends and opportunities
6.3.2.Market size and forecast, by insurance type
6.3.3.Market size and forecast, by brokerage type
6.3.4.Market size and forecast, by Country
6.3.5.Germany
6.3.5.1.Market size and forecast, by insurance type
6.3.5.2.Market size and forecast, by brokerage type
6.3.6.France
6.3.6.1.Market size and forecast, by insurance type
6.3.6.2.Market size and forecast, by brokerage type
6.3.7.UK
6.3.7.1.Market size and forecast, by insurance type
6.3.7.2.Market size and forecast, by brokerage type
6.3.8.Italy
6.3.8.1.Market size and forecast, by insurance type
6.3.8.2.Market size and forecast, by brokerage type
6.3.9.Spain
6.3.9.1.Market size and forecast, by insurance type
6.3.9.2.Market size and forecast, by brokerage type
6.3.10.Rest of Europe
6.3.10.1.Market size and forecast, by insurance type
6.3.10.2.Market size and forecast, by brokerage type
6.4.ASIA PACIFIC
6.4.1.Key market trends and opportunities
6.4.2.Market size and forecast, by insurance type
6.4.3.Market size and forecast, by brokerage type
6.4.4.Market size and forecast, by Country
6.4.5.China
6.4.5.1.Market size and forecast, by insurance type
6.4.5.2.Market size and forecast, by brokerage type
6.4.6.Japan
6.4.6.1.Market size and forecast, by insurance type
6.4.6.2.Market size and forecast, by brokerage type
6.4.7.India
6.4.7.1.Market size and forecast, by insurance type
6.4.7.2.Market size and forecast, by brokerage type
6.4.8.Australia
6.4.8.1.Market size and forecast, by insurance type
6.4.8.2.Market size and forecast, by brokerage type
6.4.9.South Korea
6.4.9.1.Market size and forecast, by insurance type
6.4.9.2.Market size and forecast, by brokerage type
6.4.10.Singapore
6.4.10.1.Market size and forecast, by insurance type
6.4.10.2.Market size and forecast, by brokerage type
6.4.11.Rest of Asia Pacific
6.4.11.1.Market size and forecast, by insurance type
6.4.11.2.Market size and forecast, by brokerage type
6.5.LAMEA
6.5.1.Key market trends and opportunities
6.5.2.Market size and forecast, by insurance type
6.5.3.Market size and forecast, by brokerage type
6.5.4.Market size and forecast, by Country
6.5.5.Latin America
6.5.5.1.Market size and forecast, by insurance type
6.5.5.2.Market size and forecast, by brokerage type
6.5.6.Middle East
6.5.6.1.Market size and forecast, by insurance type
6.5.6.2.Market size and forecast, by brokerage type
6.5.7.Africa
6.5.7.1.Market size and forecast, by insurance type
6.5.7.2.Market size and forecast, by brokerage type
CHAPTER 7:COMPANY PROFILES
7.1.ACRISURE LLC
7.1.1.Company overview
7.1.2.Key Executives
7.1.3.Company snapshot
7.1.4.Operating business segments
7.1.5.Product portfolio
7.1.6.Business performance
7.1.7.Key strategic moves and developments
7.2.AON PLC
7.2.1.Company overview
7.2.2.Key Executives
7.2.3.Company snapshot
7.2.4.Operating business segments
7.2.5.Product portfolio
7.2.6.Business performance
7.2.7.Key strategic moves and developments
7.3.BROWN AND BROWN INC
7.3.1.Company overview
7.3.2.Key Executives
7.3.3.Company snapshot
7.3.4.Operating business segments
7.3.5.Product portfolio
7.3.6.Business performance
7.3.7.Key strategic moves and developments
7.4.GALLAGHER
7.4.1.Company overview
7.4.2.Key Executives
7.4.3.Company snapshot
7.4.4.Operating business segments
7.4.5.Product portfolio
7.4.6.Business performance
7.4.7.Key strategic moves and developments
7.5.HUB INTERNATIONAL LIMITED
7.5.1.Company overview
7.5.2.Key Executives
7.5.3.Company snapshot
7.5.4.Operating business segments
7.5.5.Product portfolio
7.5.6.Business performance
7.5.7.Key strategic moves and developments
7.6.LOCKTON COMPANIES
7.6.1.Company overview
7.6.2.Key Executives
7.6.3.Company snapshot
7.6.4.Operating business segments
7.6.5.Product portfolio
7.6.6.Business performance
7.6.7.Key strategic moves and developments
7.7.MARSH AND MCLENNAN COMPANIES INC
7.7.1.Company overview
7.7.2.Key Executives
7.7.3.Company snapshot
7.7.4.Operating business segments
7.7.5.Product portfolio
7.7.6.Business performance
7.7.7.Key strategic moves and developments
7.8.TRUIST INSURANCE HOLDINGS
7.8.1.Company overview
7.8.2.Key Executives
7.8.3.Company snapshot
7.8.4.Operating business segments
7.8.5.Product portfolio
7.8.6.Business performance
7.8.7.Key strategic moves and developments
7.9.USI INSURANCE SERVICES LLC
7.9.1.Company overview
7.9.2.Key Executives
7.9.3.Company snapshot
7.9.4.Operating business segments
7.9.5.Product portfolio
7.9.6.Business performance
7.9.7.Key strategic moves and developments
7.10.WILLS TOWERS WATSON
7.10.1.Company overview
7.10.2.Key Executives
7.10.3.Company snapshot
7.10.4.Operating business segments
7.10.5.Product portfolio
7.10.6.Business performance
7.10.7.Key strategic moves and developments
LIST OF TABLES
TABLE 1.GLOBAL INSURANCE BORKERAGE MARKET, BY INSURANCE TYPE 2019-2027 ($MILLION)
TABLE 2.INSURANCE BORKERAGE MARKET FOR LIFE INSURANCE, BY REGION, 2019-2027 ($MILLION)
TABLE 3.INSURANCE BORKERAGE MARKET FOR PROPERTY AND CASUALTY INSURANCE, BY REGION, 2019-2027 ($MILLION)
TABLE 4.GLOBAL INSURANCE BORKERAGE MARKET, BY BROKERAGE TYPE 2019-2027 ($MILLION)
TABLE 5.INSURANCE BORKERAGE MARKET FOR RETAIL BROKERAGE, BY REGION, 2019-2027 ($MILLION)
TABLE 6.INSURANCE BORKERAGE MARKET FOR WHOLESALE BROKERAGE, BY REGION, 2019-2027 ($MILLION)
TABLE 7.INSURANCE BORKERAGE MARKET FOR , BY REGION, , 2019-2027 ($MILLION)
TABLE 8.NORTH AMERICA INSURANCE BORKERAGE, BY INSURANCE TYPE 2019-2027 ($MILLION)
TABLE 9.NORTH AMERICA INSURANCE BORKERAGE, BY BROKERAGE TYPE 2019-2027 ($MILLION)
TABLE 10.NORTH AMERICA INSURANCE BORKERAGE, BY REGION, 2019-2027 ($MILLION)
TABLE 11.EUROPE INSURANCE BORKERAGE, BY INSURANCE TYPE 2019-2027 ($MILLION)
TABLE 12.EUROPE INSURANCE BORKERAGE, BY BROKERAGE TYPE 2019-2027 ($MILLION)
TABLE 13.EUROPE INSURANCE BORKERAGE, BY REGION, 2019-2027 ($MILLION)
TABLE 14.ASIA PACIFIC INSURANCE BORKERAGE, BY INSURANCE TYPE 2019-2027 ($MILLION)
TABLE 15.ASIA PACIFIC INSURANCE BORKERAGE, BY BROKERAGE TYPE 2019-2027 ($MILLION)
TABLE 16.ASIA PACIFIC INSURANCE BORKERAGE, BY REGION, 2019-2027 ($MILLION)
TABLE 17.LAMEA INSURANCE BORKERAGE, BY INSURANCE TYPE 2019-2027 ($MILLION)
TABLE 18.LAMEA INSURANCE BORKERAGE, BY BROKERAGE TYPE 2019-2027 ($MILLION)
TABLE 19.LAMEA INSURANCE BORKERAGE, BY REGION, 2019-2027 ($MILLION)
TABLE 20.ACRISURE LLC: COMPANY SNAPSHOT
TABLE 21.ACRISURE LLC: OPERATING SEGMENTS
TABLE 22.AON PLC: COMPANY SNAPSHOT
TABLE 23.AON PLC: OPERATING SEGMENTS
TABLE 24.BROWN AND BROWN INC: COMPANY SNAPSHOT
TABLE 25.BROWN AND BROWN INC: OPERATING SEGMENTS
TABLE 26.GALLAGHER: COMPANY SNAPSHOT
TABLE 27.GALLAGHER: OPERATING SEGMENTS
TABLE 28.HUB INTERNATIONAL LIMITED: COMPANY SNAPSHOT
TABLE 29.HUB INTERNATIONAL LIMITED: OPERATING SEGMENTS
TABLE 30.LOCKTON COMPANIES: COMPANY SNAPSHOT
TABLE 31.LOCKTON COMPANIES: OPERATING SEGMENTS
TABLE 32.MARSH AND MCLENNAN COMPANIES INC: COMPANY SNAPSHOT
TABLE 33.MARSH AND MCLENNAN COMPANIES INC: OPERATING SEGMENTS
TABLE 34.TRUIST INSURANCE HOLDINGS: COMPANY SNAPSHOT
TABLE 35.TRUIST INSURANCE HOLDINGS: OPERATING SEGMENTS
TABLE 36.USI INSURANCE SERVICES LLC: COMPANY SNAPSHOT
TABLE 37.USI INSURANCE SERVICES LLC: OPERATING SEGMENTS
TABLE 38.WILLS TOWERS WATSON: COMPANY SNAPSHOT
TABLE 39.WILLS TOWERS WATSON: OPERATING SEGMENTS
List of Figures
FIGURE 1.GLOBAL INSURANCE BORKERAGE MARKET SEGMENTATION
FIGURE 2.TOP INVESTMENT POCKET
FIGURE 3.TOP WINNING STRATEGIES (%)
FIGURE 4.INSURANCE BORKERAGE MARKET FOR LIFE INSURANCE, 2019-2027 ($MILLION)
FIGURE 5.INSURANCE BORKERAGE MARKET FOR PROPERTY AND CASUALTY INSURANCE, 2019-2027 ($MILLION)
FIGURE 6.INSURANCE BORKERAGE MARKET FOR RETAIL BROKERAGE, 2019-2027 ($MILLION)
FIGURE 7.INSURANCE BORKERAGE MARKET FOR WHOLESALE BROKERAGE, 2019-2027 ($MILLION)
FIGURE 8.GLOBAL INSURANCE BORKERAGE, BY REGION, 2019 (%)
FIGURE 9.US INSURANCE BORKERAGE MARKET, 2019-2027 ($MILLION)
FIGURE 10.CANADA INSURANCE BORKERAGE MARKET, 2019-2027 ($MILLION)
FIGURE 11.GERMANY INSURANCE BORKERAGE MARKET, 2019-2027 ($MILLION)
FIGURE 12.FRANCE INSURANCE BORKERAGE MARKET, 2019-2027 ($MILLION)
FIGURE 13.UK INSURANCE BORKERAGE MARKET, 2019-2027 ($MILLION)
FIGURE 14.ITALY INSURANCE BORKERAGE MARKET, 2019-2027 ($MILLION)
FIGURE 15.SPAIN INSURANCE BORKERAGE MARKET, 2019-2027 ($MILLION)
FIGURE 16.REST OF EUROPE INSURANCE BORKERAGE MARKET, 2019-2027 ($MILLION)
FIGURE 17.CHINA INSURANCE BORKERAGE MARKET, 2019-2027 ($MILLION)
FIGURE 18.JAPAN INSURANCE BORKERAGE MARKET, 2019-2027 ($MILLION)
FIGURE 19.INDIA INSURANCE BORKERAGE MARKET, 2019-2027 ($MILLION)
FIGURE 20.AUSTRALIA INSURANCE BORKERAGE MARKET, 2019-2027 ($MILLION)
FIGURE 21.SOUTH KOREA INSURANCE BORKERAGE MARKET, 2019-2027 ($MILLION)
FIGURE 22.SINGAPORE INSURANCE BORKERAGE MARKET, 2019-2027 ($MILLION)
FIGURE 23.REST OF ASIA PACIFIC INSURANCE BORKERAGE MARKET, 2019-2027 ($MILLION)
FIGURE 24.LATIN AMERICA INSURANCE BORKERAGE MARKET, 2019-2027 ($MILLION)
FIGURE 25.MIDDLE EAST INSURANCE BORKERAGE MARKET, 2019-2027 ($MILLION)
FIGURE 26.AFRICA INSURANCE BORKERAGE MARKET, 2019-2027 ($MILLION)

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