Insurance Brokerage Market Scope And Analysis

Report Code : TIPRE00039067
Category : Banking, Financial Services, and Insurance

No. of Pages : 150

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Insurance Brokerage Market Analysis, Scope, and Growth by 2031

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Insurance Brokerage Market Report Scope

Report Attribute	Details
Market size in 2023	US$ 227.95 Billion
Market Size by 2031	US$ 573.55 Billion
Global CAGR (2023 - 2031)	12.2%
Historical Data	2021-2023
Forecast period	2023-2031
Segments Covered	By Type Property & Casualty Insurance Life & Health Insurance By End User Corporate Individual By Mode Online Offline
Regions and Countries Covered	North America US Canada Mexico Europe UK Germany France Russia Italy Rest of Europe Asia-Pacific China India Japan Australia Rest of Asia-Pacific South and Central America Brazil Argentina Rest of South and Central America Middle East and Africa South Africa Saudi Arabia UAE Rest of Middle East and Africa
Market leaders and key company profiles	Marsh McLennan Companies Inc Aon plc Willis Towers Watson HUB International Limited Acrisure LLC Brown Brown Inc Gallagher Lockton Truist Insurance Holdings

The "Insurance Brokerage Market Analysis" was carried out based on type, end-user, mode, and geography. On the basis of type, the market is segmented into property & casualty reinsurance and life & health reinsurance. Based on the end user, the market is segmented into corporate and individual. Based on mode, the market is segmented into online and offline. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Insurance Brokerage Market News and Recent Developments

Companies adopt inorganic and organic strategies such as mergers and acquisitions in the market. A few recent key market developments are listed below:

In January 2024, US-based independent insurance brokerage Lockton announced its entry into the Indian market. With over 135 offices worldwide, Lockton's entry into the country is subject to regulatory approval. This will meet India's growing demand for risk consulting and management services.

[Source: Lockton, Company Website]

In November 2023, insurance broker company RiskBirbal announced the launch of its insurance and risk management products aimed at mitigating financial risks for small and medium businesses. The company uses artificial intelligence and Internet-of-things-based technologies along with risk management strategies to mitigate financial risks and frame solutions for MSMEs.

[Source: RiskBirbal, Company Website]

Insurance Brokerage Market Report Coverage & Deliverables

The insurance brokerage market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. The market report "Insurance Brokerage Market Size and Forecast (2021–2031)" provides a detailed analysis of the market covering below areas-

Market size & forecast at global, regional, and country levels for all the key market segments covered under the scope.
Market dynamics such as drivers, restraints, and key opportunities.
Key future trends.
Detailed PEST & SWOT analysis
Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
Industry landscape and competition analysis covering market concentration, heat map analysis, key players, and recent developments.
Detailed company profiles.