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(MoneyNewsWire.Net, May 20, 2016 ) A nation's economic growth usually drives its citizen's income and business activities. The rise in spending power of the people drives demands for various products and services, including insurance products among others. Growing demand for insurance products in developing countries such as India, China, and nations in Southeast Asia has heralded the entry of new insurance agents (or brokers) that earn huge sums as brokerage fees.
Market competition is based on services, product features, prices, commission structures, financial strength and resources, customer bases, geographical presence, and brand recognition.
Technavios analysts forecast the Global Insurance Brokerage Market to grow at a CAGR of 4.27% during the period 2016-2020.
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Covered in this report
The report covers the present scenario and the growth prospects of the Global Insurance Brokerage Market for 2016-2020. To calculate the market size, the report considers the revenue generated primarily through the fees paid by clients; commissions and fees collected from the insurers; and funds that are held on behalf of the clients.
The market is divided into the following segments based on geography:
Europe
North America
ROW
New report, Global Insurance Brokerage Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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Key vendors
Aon
Arthur J. Gallagher
Willis
Marsh and McLennan
Other prominent vendors
BB&T Insurance Services
Brown & Brown
HUB International
Jardine Lloyd Thompson Group
Meadowbrook Insurance Group
National Financial Partners
Market driver
Rise in middle-income customer group and HNW clients in developing countries
For a full, detailed list, view our report
Market challenge
Direct purchase of polices from insurance firms
For a full, detailed list, view our report
Market trend
Adoption of big data analytics and incorporation of BI
For a full, detailed list, view our report
Key questions answered in this report
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?
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