Product Code: A10350
According to a new report published by Allied Market Research, titled, "Insurance Brokerage Market," The insurance brokerage market was valued at $259.7 billion in 2022, and is estimated to reach $628.3 billion by 2032, growing at a CAGR of 9.3% from 2023 to 2032.

The integration of IT & analytic solutions is a key driver for the growth of insurance brokerage market. The insurance industry is transforming at a fastest growth rate in terms of technology adoption. In addition, market vendors are integrating IT and analytics solutions to maximize their sales. Analytics solutions help in creating effective marketing strategies and underwriting services. Data analytics helps firms with product design and customer targeting through simulation and stochastic techniques. In addition, the expansion of digital brokers and increase in demand for insurance policies among the general public are the major driving factors for the market growth. However, availability of alternative platforms for purchasing insurance policy is a major factor that hamper the growth of the market. Increased availability of insurance intermediaries, online channels, and other third-part website, which do not require additional commission charges for insurance policy, restrains the market growth. Moreover, these intermediaries offer tailor-made policy and accelerate products & services for growing consumer demands, with exclusive ideas & solutions for their coverages. However, rise in personalized insurance policies presents a significant opportunity for the insurance brokerage market. Personalized insurance policies allow brokers to craft coverage solutions that precisely match each client's risk profile and requirements. By understanding individual circumstances, brokers recommend coverage that is neither excessive nor inadequate, enhancing customer satisfaction. Moreover, offering personalized policies demonstrates a deep understanding of clients' needs.
The insurance brokerage market is segmented on the basis of insurance type, brokerage type, and region. On the basis of insurance type, it is divided into life insurance and property & casualty insurance. By brokerage type it is categorized into retail and wholesale. On the basis of region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The report analyzes the profiles of key players operating in the insurance brokerage market such as Acrisure, LLC, Aon plc, Brown & Brown, Inc, Gallagher, HUB International Limited, Lockton companies, Marsh & McLennan Companies Inc., Truist Insurance Holdings, USI Insurance Services L.L.C, and Willis Towers Watson. These players have adopted various strategies to increase their market penetration and strengthen their position in the insurance brokerage market.
Key Benefits for Stakeholders
- The study provides in-depth analysis of the global insurance brokerage market along with the current & future trends to illustrate the imminent investment pockets.
- Information about key drivers, restrains, & opportunities and their impact analysis on the global insurance brokerage market size are provided in the report.
- Porter's five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
- The quantitative analysis of the global insurance brokerage market from 2022 to 2032 is provided to determine the market potential.
Additional benefits you will get with this purchase are:
- Quarterly Update and* (only available with a corporate license, on listed price)
- 5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
- Free Upcoming Version on the Purchase of Five and Enterprise User License.
- 16 analyst hours of support* (post-purchase, if you find additional data requirements upon review of the report, you may receive support amounting to 16 analyst hours to solve questions, and post-sale queries)
- 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 20% is equivalent to 3 working days of free work, applicable once)
- Free data Pack on the Five and Enterprise User License. (Excel version of the report)
- Free Updated report if the report is 6-12 months old or older.
- 24-hour priority response*
- Free Industry updates and white papers.
Possible Customization with this report (with additional cost and timeline talk to the sales executive to know more)
- Investment Opportunities
- Market share analysis of players by products/segments
- Regulatory Guidelines
- Additional company profiles with specific to client's interest
- Additional country or region analysis- market size and forecast
- Key player details (including location, contact details, supplier/vendor network etc. in excel format)
- SWOT Analysis
Key Market Segments
By Insurance Type
- Life Insurance
- Property and Casualty Insurance
By Brokerage Type
By Region
- North America
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players:
- Aon plc
- WTW
- Truist Insurance Holdings
- Acrisure, LLC
- Lockton Companies
- Brown & Brown Insurance Inc.
- Marsh & McLennan Companies, Inc.
- Arthur J. Gallagher & Co.
- HUB International Limited
- USI Insurance Services LLC
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research Methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter's five forces analysis
- 3.3.1. Low bargaining power of suppliers
- 3.3.2. Low threat of new entrants
- 3.3.3. Low threat of substitutes
- 3.3.4. Low intensity of rivalry
- 3.3.5. Low bargaining power of buyers
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.1.1. Increase in demand for insurance policies among the general public
- 3.4.1.2. Expansion of digital brokers
- 3.4.1.3. Integration of IT & analytic solutions
- 3.4.2. Restraints
- 3.4.2.1. Availability of alternative platforms for purchasing insurance policy
- 3.4.3. Opportunities
- 3.4.3.1. Rise in personalized insurance policies
- 3.4.3.2. Favorable government initiatives regarding insurance policies
- 3.5. COVID-19 Impact Analysis on the market
CHAPTER 4: INSURANCE BROKERAGE MARKET, BY INSURANCE TYPE
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Life Insurance
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Property and Casualty Insurance
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
CHAPTER 5: INSURANCE BROKERAGE MARKET, BY BROKERAGE TYPE
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Retail
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Wholesale
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
CHAPTER 6: INSURANCE BROKERAGE MARKET, BY REGION
- 6.1. Overview
- 6.1.1. Market size and forecast By Region
- 6.2. North America
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by Insurance Type
- 6.2.3. Market size and forecast, by Brokerage Type
- 6.2.4. Market size and forecast, by country
- 6.2.4.1. U.S.
- 6.2.4.1.1. Market size and forecast, by Insurance Type
- 6.2.4.1.2. Market size and forecast, by Brokerage Type
- 6.2.4.2. Canada
- 6.2.4.2.1. Market size and forecast, by Insurance Type
- 6.2.4.2.2. Market size and forecast, by Brokerage Type
- 6.3. Europe
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by Insurance Type
- 6.3.3. Market size and forecast, by Brokerage Type
- 6.3.4. Market size and forecast, by country
- 6.3.4.1. UK
- 6.3.4.1.1. Market size and forecast, by Insurance Type
- 6.3.4.1.2. Market size and forecast, by Brokerage Type
- 6.3.4.2. Germany
- 6.3.4.2.1. Market size and forecast, by Insurance Type
- 6.3.4.2.2. Market size and forecast, by Brokerage Type
- 6.3.4.3. France
- 6.3.4.3.1. Market size and forecast, by Insurance Type
- 6.3.4.3.2. Market size and forecast, by Brokerage Type
- 6.3.4.4. Italy
- 6.3.4.4.1. Market size and forecast, by Insurance Type
- 6.3.4.4.2. Market size and forecast, by Brokerage Type
- 6.3.4.5. Spain
- 6.3.4.5.1. Market size and forecast, by Insurance Type
- 6.3.4.5.2. Market size and forecast, by Brokerage Type
- 6.3.4.6. Rest of Europe
- 6.3.4.6.1. Market size and forecast, by Insurance Type
- 6.3.4.6.2. Market size and forecast, by Brokerage Type
- 6.4. Asia-Pacific
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by Insurance Type
- 6.4.3. Market size and forecast, by Brokerage Type
- 6.4.4. Market size and forecast, by country
- 6.4.4.1. China
- 6.4.4.1.1. Market size and forecast, by Insurance Type
- 6.4.4.1.2. Market size and forecast, by Brokerage Type
- 6.4.4.2. Japan
- 6.4.4.2.1. Market size and forecast, by Insurance Type
- 6.4.4.2.2. Market size and forecast, by Brokerage Type
- 6.4.4.3. India
- 6.4.4.3.1. Market size and forecast, by Insurance Type
- 6.4.4.3.2. Market size and forecast, by Brokerage Type
- 6.4.4.4. Australia
- 6.4.4.4.1. Market size and forecast, by Insurance Type
- 6.4.4.4.2. Market size and forecast, by Brokerage Type
- 6.4.4.5. South Korea
- 6.4.4.5.1. Market size and forecast, by Insurance Type
- 6.4.4.5.2. Market size and forecast, by Brokerage Type
- 6.4.4.6. Rest of Asia-Pacific
- 6.4.4.6.1. Market size and forecast, by Insurance Type
- 6.4.4.6.2. Market size and forecast, by Brokerage Type
- 6.5. LAMEA
- 6.5.1. Key market trends, growth factors and opportunities
- 6.5.2. Market size and forecast, by Insurance Type
- 6.5.3. Market size and forecast, by Brokerage Type
- 6.5.4. Market size and forecast, by country
- 6.5.4.1. Latin America
- 6.5.4.1.1. Market size and forecast, by Insurance Type
- 6.5.4.1.2. Market size and forecast, by Brokerage Type
- 6.5.4.2. Middle East
- 6.5.4.2.1. Market size and forecast, by Insurance Type
- 6.5.4.2.2. Market size and forecast, by Brokerage Type
- 6.5.4.3. Africa
- 6.5.4.3.1. Market size and forecast, by Insurance Type
- 6.5.4.3.2. Market size and forecast, by Brokerage Type
CHAPTER 7: COMPETITIVE LANDSCAPE
- 7.1. Introduction
- 7.2. Top winning strategies
- 7.3. Product Mapping of Top 10 Player
- 7.4. Competitive Dashboard
- 7.5. Competitive Heatmap
- 7.6. Top player positioning, 2022
CHAPTER 8: COMPANY PROFILES
- 8.1. Brown & Brown Insurance Inc.
- 8.1.1. Company overview
- 8.1.2. Key Executives
- 8.1.3. Company snapshot
- 8.1.4. Operating business segments
- 8.1.5. Product portfolio
- 8.1.6. Business performance
- 8.1.7. Key strategic moves and developments
- 8.2. WTW
- 8.2.1. Company overview
- 8.2.2. Key Executives
- 8.2.3. Company snapshot
- 8.2.4. Operating business segments
- 8.2.5. Product portfolio
- 8.2.6. Business performance
- 8.2.7. Key strategic moves and developments
- 8.3. Marsh & McLennan Companies, Inc.
- 8.3.1. Company overview
- 8.3.2. Key Executives
- 8.3.3. Company snapshot
- 8.3.4. Operating business segments
- 8.3.5. Product portfolio
- 8.3.6. Business performance
- 8.3.7. Key strategic moves and developments
- 8.4. Truist Insurance Holdings
- 8.4.1. Company overview
- 8.4.2. Key Executives
- 8.4.3. Company snapshot
- 8.4.4. Operating business segments
- 8.4.5. Product portfolio
- 8.4.6. Business performance
- 8.4.7. Key strategic moves and developments
- 8.5. HUB International Limited
- 8.5.1. Company overview
- 8.5.2. Key Executives
- 8.5.3. Company snapshot
- 8.5.4. Operating business segments
- 8.5.5. Product portfolio
- 8.5.6. Key strategic moves and developments
- 8.6. Acrisure, LLC
- 8.6.1. Company overview
- 8.6.2. Key Executives
- 8.6.3. Company snapshot
- 8.6.4. Operating business segments
- 8.6.5. Product portfolio
- 8.6.6. Key strategic moves and developments
- 8.7. USI Insurance Services LLC
- 8.7.1. Company overview
- 8.7.2. Key Executives
- 8.7.3. Company snapshot
- 8.7.4. Operating business segments
- 8.7.5. Product portfolio
- 8.7.6. Key strategic moves and developments
- 8.8. Lockton Companies
- 8.8.1. Company overview
- 8.8.2. Key Executives
- 8.8.3. Company snapshot
- 8.8.4. Operating business segments
- 8.8.5. Product portfolio
- 8.8.6. Key strategic moves and developments
- 8.9. Aon plc
- 8.9.1. Company overview
- 8.9.2. Key Executives
- 8.9.3. Company snapshot
- 8.9.4. Operating business segments
- 8.9.5. Product portfolio
- 8.9.6. Business performance
- 8.9.7. Key strategic moves and developments
- 8.10. Arthur J. Gallagher & Co.
- 8.10.1. Company overview
- 8.10.2. Key Executives
- 8.10.3. Company snapshot
- 8.10.4. Operating business segments
- 8.10.5. Product portfolio
- 8.10.6. Business performance
- 8.10.7. Key strategic moves and developments