(MoneyNewsWire.Net, November 15, 2017 ) 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.
The market is divided into the following segments based on geography: - Europe - North America - ROW
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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
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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
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