Insurance Agency Trends and Forecast
The future of the global insurance agency market looks promising with opportunities in the corporate and individual markets. The global insurance agency market is expected to grow with a CAGR of 7.6% from 2024 to 2030. The major drivers for this market are rising awareness about the benefits of insurance coverage and increasing number of cyber threat.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Insurance Agency by Segment
The study includes a forecast for the global insurance agency by insurance, mode, end use, and region.
Insurance Agency Market by Insurance [Shipment Analysis by Value from 2018 to 2030]:
• Life Insurance
• Property and Casualty Insurance
• Health and Medical Insurance
• Others
Insurance Agency Market by Mode [Shipment Analysis by Value from 2018 to 2030]:
• Online
• Offline
Insurance Agency Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Corporate
• Individual
Insurance Agency Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Insurance Agency Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies insurance agency companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the insurance agency companies profiled in this report include-
• McGriff Insurance Services
• Marsh & McLennan Agency
• Aon
• Brown & Brown Insurance
• HUB International
• USI Insurance
• AXA Equitable
Insurance Agency Market Insights
Lucintel forecasts that life insurance is expected to witness highest growth over the forecast period.
Within this market, individual will remain the larger segment due to rising need for personal coverage.
North America will remain the largest region over the forecast period due to advancement in technology and rising awareness towards the benefits of insurance coverage in the region.
Features of the Global Insurance Agency Market
Market Size Estimates: Insurance agency market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Insurance agency market size by insurance, mode, end use, and region in terms of value ($B).
Regional Analysis: Insurance agency market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different insurance, modes, end uses, and regions for the insurance agency market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the insurance agency market.
Analyse de l'intensité concurrentielle de l'industrie basée sur le modèle des cinq forces de Porter.
FAQ
Q1. What is the growth forecast for insurance agency market?
Answer: The global insurance agency market is expected to grow with a CAGR of 7.6% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the insurance agency market?
Answer: The major drivers for this market are rising awareness about the benefits of insurance coverage and increasing number of cyber threat.
Q3. What are the major segments for insurance agency market?
Answer: The future of the insurance agency market looks promising with opportunities in the corporate and individual markets.
Q4. Who are the key insurance agency market companies?
Answer: Some of the key insurance agency companies are as follows:
• McGriff Insurance Services
• Marsh & McLennan Agency
• Aon
• Brown & Brown Insurance
• HUB International
• USI Insurance
• AXA Equitable
Q5. Which insurance agency market segment will be the largest in future?
Answer: Lucintel forecasts that life insurance is expected to witness highest growth over the forecast period.
Q6. In insurance agency market, which region is expected to be the largest in next 5 years?
Answer: North America will remain the largest region over the forecast period due to advancement in technology and rising awareness towards the benefits of insurance coverage in the region.
Q7. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the insurance agency market by insurance (life insurance, property and casualty insurance, health and medical insurance, and others), mode (online and offline), end use (corporate and individual), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Insurance Agency Market, Insurance Agency Market Size, Insurance Agency Market Growth, Insurance Agency Market Analysis, Insurance Agency Market Report, Insurance Agency Market Share, Insurance Agency Market Trends, Insurance Agency Market Forecast, Insurance Agency Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.