Insurance Brokerage Market by Insurance Type and Geography - Forecast and Analysis 2020-2024

Global Insurance Brokerage Market 2020-2024

Technavio has been monitoring the global insurance brokerage market and it is poised to grow by USD 19.56 bn during 2020-2024, progressing at a CAGR of 6% during the forecast period. Our reports on insurance brokerage market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by Increase in the Number of HNWIs in Developing Regions. In addition, industry consolidation through M&A is anticipated to boost the growth of the insurance brokerage market as well.

Market Segmentation

Technavio’s insurance brokerage market is segmented as below:

Insurance Type

  • Life Insurance
  • General Insurance
Geographic segmentation
  • APAC
  • Europe
  • MEA
  • North America
  • South America
Key Trends for insurance brokerage market growth

This study identifies industry consolidation through M&A as the prime reasons driving the insurance brokerage market growth during the next few years.

Prominent vendors in insurance brokerage market

We provide a detailed analysis of around 25 vendors operating in the insurance brokerage market , including some of the vendors such as Aon Plc, Arthur J. Gallagher & Co., Brown & Brown Inc., Hub International Ltd., Lockton Inc., Marsh & McLennan Companies Inc., NFP Corp., Truist Financial Corp., USI Insurance Services and Willis Towers Watson Plc .

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

About Technavio

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. Technavio’s market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast an accurate market growth.


  • Executive summary
  • Scope of the report
    • Preface
    • Currency conversion rates for US$
  • Market landscape
    • Market ecosystem
      • Table Global specialized consumer services market
      • Table Segments of global specialized consumer services market
    • Market characteristics
      • Table Market characteristics
    • Market segmentation analysis
      • Table Market segments
  • Market sizing
    • Market definition
      • Table Key offerings
      • Table Market definition - Inclusions and exclusions checklist
    • Market sizing 2019
      • Table Market size 2019
    • Market outlook
    • Market size and forecast 2019-2024
      • Table Global market: Size and forecast 2019-2024 ($ billions)
      • Table Global market: Year-over-year growth 2020-2024 (%)
  • Five forces analysis
    • Table Five forces analysis 2019
    • Table Five forces analysis 2024
    • Bargaining power of buyers
      • Table Bargaining power of buyers
    • Bargaining power of suppliers
      • Table Bargaining power of suppliers
    • Threat of new entrants
      • Table Threat of new entrants
    • Threat of substitutes
      • Table Threat of substitutes
    • Threat of rivalry
      • Table Threat of rivalry
    • Market condition
      • Table Market condition - Five forces 2019
  • Customer landscape
    • Table Customer landscape
  • Market segmentation by insurance type
    • Market segmentation by insurance type
      • Table Insurance type - Market share 2019-2024 (%)
    • Comparison by insurance type
      • Table Comparison by insurance type
    • Life insurance - Market size and forecast 2019-2024
      • Table Life insurance - Market size and forecast 2019-2024 ($ billions)
      • Table Life insurance - Year-over-year growth 2020-2024 (%)
    • General insurance - Market size and forecast 2019-2024
      • Table General insurance - Market size and forecast 2019-2024 ($ billions)
      • Table General insurance - Year-over-year growth 2020-2024 (%)
    • Market opportunity by insurance type
      • Table Market opportunity by insurance type
  • Geographic landscape
    • Geographic segmentation
      • Table Market share by geography 2019-2024 (%)
    • Geographic comparison
      • Table Geographic comparison
    • North America - Market size and forecast 2019-2024
      • Table North America - Market size and forecast 2019-2024 ($ billions)
      • Table North America - Year-over-year growth 2020-2024 (%)
    • Europe - Market size and forecast 2019-2024
      • Table Europe - Market size and forecast 2019-2024 ($ billions)
      • Table Europe - Year-over-year growth 2020-2024 (%)
    • APAC - Market size and forecast 2019-2024
      • Table APAC - Market size and forecast 2019-2024 ($ billions)
      • Table APAC - Year-over-year growth 2020-2024 (%)
    • MEA - Market size and forecast 2019-2024
      • Table MEA - Market size and forecast 2019-2024 ($ billions)
      • Table MEA - Year-over-year growth 2020-2024 (%)
    • South America - Market size and forecast 2019-2024
      • Table South America - Market size and forecast 2019-2024 ($ billions)
      • Table South America - Year-over-year growth 2020-2024 (%)
    • Key leading countries
      • Table Key leading countries
    • Market opportunity
      • Table Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
      • Table Impact of drivers and challenges
  • Market trends
    • Industry consolidation through M&A
    • Integration of wearables into customer engagement metrics for life insurance segment
    • Investors collaborating with InsurTech firms
  • Vendor landscape
    • Overview
      • Table Vendor landscape
    • Landscape disruption
      • Table Landscape disruption
    • Competitive scenario
  • Vendor analysis
    • Vendors covered
      • Table Vendors covered
    • Vendor classification
      • Table Vendor classification
    • Market positioning of vendors
      • Table Market positioning of vendors
    • Aon Plc
      • Table Aon Plc - Vendor overview
      • Table Aon Plc - Business segments
      • Table Aon Plc - Organizational developments
      • Table Aon Plc - Geographic focus
      • Table Aon Plc - Segment focus
      • Table Aon Plc - Key offerings
    • Arthur J. Gallagher & Co.
      • Table Arthur J. Gallagher & Co. - Vendor overview
      • Table Arthur J. Gallagher & Co. - Business segments
      • Table Arthur J. Gallagher & Co. - Organizational developments
      • Table Arthur J. Gallagher & Co. - Geographic focus
      • Table Arthur J. Gallagher & Co. - Segment focus
      • Table Arthur J. Gallagher & Co. - Key offerings
    • Brown & Brown Inc.
      • Table Brown & Brown Inc. - Vendor overview
      • Table Brown & Brown Inc. - Business segments
      • Table Brown & Brown Inc. - Organizational developments
      • Table Brown & Brown Inc. - Segment focus
      • Table Brown & Brown Inc. - Key offerings
    • Hub International Ltd.
      • Table Hub International Ltd. - Vendor overview
      • Table Hub International Ltd. - Product segments
      • Table Hub International Ltd. - Organizational developments
      • Table Hub International Ltd. - Key offerings
    • Lockton Inc.
      • Table Lockton Inc. - Vendor overview
      • Table Lockton Inc. - Business segments
      • Table Lockton Inc. - Organizational developments
      • Table Lockton Inc. - Key offerings
    • Marsh & McLennan Companies Inc.
      • Table Marsh & McLennan Companies Inc. - Vendor overview
      • Table Marsh & McLennan Companies Inc. - Business segments
      • Table Marsh & McLennan Companies Inc. - Organizational developments
      • Table Marsh & McLennan Companies Inc. - Geographic focus
      • Table Marsh & McLennan Companies Inc. - Segment focus
      • Table Marsh & McLennan Companies Inc. - Key offerings
    • NFP Corp.
      • Table NFP Corp. - Vendor overview
      • Table NFP Corp. - Business segments
      • Table NFP Corp. - Organizational developments
      • Table NFP Corp. - Key offerings
    • Truist Financial Corp.
      • Table Truist Financial Corp. - Vendor overview
      • Table Truist Financial Corp. - Business segments
      • Table Truist Financial Corp. - Organizational developments
      • Table Truist Financial Corp. - Segment focus
      • Table Truist Financial Corp. - Key offerings
    • USI Insurance Services
      • Table USI Insurance Services - Vendor overview
      • Table USI Insurance Services - Business segments
      • Table USI Insurance Services - Organizational developments
      • Table USI Insurance Services - Key offerings
    • Willis Towers Watson Plc
      • Table Willis Towers Watson Plc - Vendor overview
      • Table Willis Towers Watson Plc - Business segments
      • Table Willis Towers Watson Plc - Organizational developments
      • Table Willis Towers Watson Plc - Geographic focus
      • Table Willis Towers Watson Plc - Segment focus
      • Table Willis Towers Watson Plc - Key offerings
  • Appendix
    • Research methodology
      • Table Validation techniques employed for market sizing
    • List of abbreviations
    • Definition of market positioning of vendors
      • Table Definition of market positioning of vendors
  • Explore Technavio

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook