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Insurance Brokerage Market by Type, End-user, and Geography - Forecast and Analysis 2023-2027

  • Published: May 2023
  • Pages: 163
  • SKU: IRTNTR40862
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Insurance Brokerage market growth will increase by $75.24 billion during 2023-2027.
The insurance brokerage market is expected to grow at a CAGR of 6.24% during 2023-2027.
Technavio has segmented the insurance brokerage market by type (Non-life insurance and Life insurance) ,end-user (Individuals, Corporate, APAC, South America, and MEA) , and geography (North America, Europe, APAC, South America, and Middle East and Africa).
Acrisure LLC, Alliant Insurance Services Inc., AmWINS Group Inc., Aon plc, Arthur J. Gallagher and Co., Assured Partners Inc., Beacon Insurance Brokers Pvt. Ltd., Brown and Brown Inc., Funk Group GmbH, Hellman and Friedman LLC, India Insure Risk Management & Insurance Broking Services Pvt. Ltd., Lockton Companies, Mahindra and Mahindra Ltd., Marsh and McLennan Companies Inc., Navnit Insurance Broking Pvt. Ltd., NFP Corp., Regent Insurance Brokers Europe GmbH, Truist Financial Corp., USI Insurance Services, Willis Towers Watson Public Ltd. Co. are a few of the key vendors in the insurance brokerage market.
North America will register the highest growth rate of 42.82% among the other regions. Therefore, the insurance brokerage market in North America is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the insurance brokerage market growth are:
  • Increased demand for insurance policies
  • Integration of IT and analytic solutions
The insurance brokerage market vendors should focus on grabbing business opportunities from the Non-life insurance segment as it accounted for the largest market share in the base year.
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