Research Report with COVID-19 Forecasts- Insurance Brokerage Market 2020-2024 | Increased Demand for Insurance Policies to Bo...
03 Julio 2020 - 6:30PM
Business Wire
The insurance brokerage market is expected to grow by USD 13.84
billion during 2020-2024. The report also provides the market
impact and new opportunities created due to the COVID-19 pandemic.
We expect the impact to be significant in the first quarter but
gradually lessen in subsequent quarters – with a limited impact on
the full-year economic growth.
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the full release here:
https://www.businesswire.com/news/home/20200703005235/en/
Technavio has announced its latest market
research report titled Global Insurance Brokerage Market 2020-2024
(Graphic: Business Wire)
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COVID-19 Impacts
The global insurance brokerage market is witnessing an increase
in the demand for accidental insurance, life insurance, medical
insurance, vehicle insurance, liability insurance, and property
insurance. This is due to the expanding population of baby boomers
and millennials worldwide, which is providing significant growth
opportunities for market players. Besides, many insurance firms are
actively investing in innovative insurance products and services
and increasing awareness to tap the potential in emerging markets.
These factors are expected to fuel the growth of the global
insurance brokerage market.
To learn more about the global trends impacting the future of
market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR40862
As per Technavio, the consolidation of the brokerage industry
will have a positive impact on the market and contribute to its
growth significantly over the forecast period. This research report
also analyzes other significant trends and market drivers that will
influence market growth over 2020-2024.
Insurance Brokerage Market: Consolidation
of the Brokerage Industry
Major insurance firms in the market are partnering with local
players to expand their geographical presence and increase their
revenue. For instance, In August 2018, CIPRES Assurances acquired
Axelliance, a direct broker and insurance company. Similarly, in
April 2019, Marsh & McLennan acquired Jardine Lloyd Thomson, a
multinational insurance, reinsurance, and brokerage services
company based in the UK. Many such M&A activities are expected
to have a positive impact on the growth of the global insurance
brokerage market.
“Integration of IT and analytic solutions and the emergence of
digital marketing platforms will further boost market growth during
the forecast period”, says a senior analyst at Technavio.
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Insurance Brokerage Market: Segmentation
Analysis
This market research report segments the insurance brokerage
market by type (non-life insurance and life insurance) and
geography (APAC, Europe, MEA, North America, and South
America).
The North American region led the insurance brokerage market in
2019, followed by Europe, APAC, South America, and MEA
respectively. During the forecast period, North America is expected
to register the highest incremental growth due to the growth of the
working capital population in the region.
Technavio’s sample reports are free of charge and contain
multiple sections of the report, such as the market size and
forecast, drivers, challenges, trends, and more.
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report
Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focus on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio’s report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio’s comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
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version on businesswire.com: https://www.businesswire.com/news/home/20200703005235/en/
Technavio Research Jesse Maida Media & Marketing Executive
US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com
Website: www.technavio.com/