Global Insurance Brokers & Agencies
The Global Insurance Brokers and Agencies industry plays a critical role in the insurance market by distributing policies and consulting insurance underwriters and consumers. Given the transaction-based nature of the industry, revenue primarily depends on three factors, which include policy pricing, demand for insurance and the popularity of using agents and brokers in the distribution process. The industry has benefited from a global hardening cycle fueled by global economic growth and a strong performance in key markets. Favorable macroeconomic trends and policy prices are anticipated to benefit the industry over the next five years.
Industry participants act as brokers or agents in selling annuities and insurance policies. Brokers act on behalf of clients, whereas agents represent insurance companies. Insurance brokers and agents earn commission income that is calculated as a percentage of the premium of policies sold. They also earn some fee income for risk management consulting and other value-added services, including insurance program administration.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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