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Insurance Brokers Global Market to Reach $187 Billion by 2031 at a CAGR of 8.2%

·3-min read
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Global Insurance Brokers Market

Global Insurance Brokers Market
Global Insurance Brokers Market

Dublin, July 29, 2022 (GLOBE NEWSWIRE) -- The "Insurance Brokers Global Market Opportunities And Strategies To 2031" report has been added to ResearchAndMarkets.com's offering.

The global insurance brokers market reached a value of nearly $128,210.3 million in 2021, having increased at a compound annual growth rate (CAGR) of 2.5% since 2016. The market is expected to grow from $128,210.3 million in 2021 to $187,982.0 million in 2026 at a rate of 8.0%. The market is then expected to grow at a CAGR of 8.2% from 2026 and reach $278,308.9 million in 2031.

Growth in the historic period resulted from strong economic growth in emerging markets, government led insurance reforms, increasing healthcare costs, and impact of COVID-19. Factors that negatively affected growth in the historic period were self-insuring, low insurance penetration, falling life insurance penetration rates and lack of awareness.

Going forward, an increase in chronic diseases and disabilities, growth of the middle-class in emerging markets, and increasing mergers and acquisitions will drive market growth. Factors that could hinder the growth of the insurance brokers market in the future include direct sales by insurance providers, additional charges by insurance brokers and consumers considering insurance as non-investment grade.

Market-trend-based strategies for the insurance brokers market include technologies to aid automation of insurance, adaption of insurance portals and digital distribution channels for efficiency, entry of nontraditional firms in the insurance brokers market, and increasing mergers and acquisitions.

Player-adopted strategies in the insurance brokers market include focus on expanding operational presence through acquisitions, focus on strengthening business through expansion and digitization of existing manual operations.

Scope
Markets Covered:

  1. By Type: Life Insurance; General Insurance; Health Insurance; Other Types

  2. By Mode: Offline; Online

  3. By End User: Corporate; Individuals

Key Topics Covered:

1. Insurance Brokers Market Executive Summary

2. Table of Contents

3. List of Figures

4. List of Tables

5. Report Structure

6. Introduction

7. Insurance Brokers Market Characteristics

8. Insurance Brokers Market Trends and Strategies

9. Impact Of COVID-19 On Insurance Brokers

10. Global Insurance Brokers Market Size And Growth

11. Global Insurance Brokers Market Segmentation

12. Insurance Brokers Market, Regional And Country Analysis

13. Asia-Pacific Insurance Brokers Market

14. Western Europe Insurance Brokers Market

15. Eastern Europe Insurance Brokers Market

16. North America Insurance Brokers Market

17. South America Insurance Brokers Market

18. Middle East Insurance Brokers Market

19. Africa Insurance Brokers Market

20. Insurance Brokers Market Competitive Landscape And Company Profiles

21. Key Mergers And Acquisitions In The Insurance Brokers Market

22. Insurance Brokers Market Opportunities And Strategies

23. Insurance Brokers Market, Conclusions And Recommendations

24. Appendix

Companies Mentioned

  • Marsh & McLennan Cos Inc

  • Aon PLC

  • Arthur J Gallagher & Co

  • Willis Towers Watson PLC

  • Acrisure LLC

For more information about this report visit https://www.researchandmarkets.com/r/gbnf8n

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