Overview

Under pressure: Regulatory reforms and greater competition are slowing industry revenue growth

IBISWorld’s Insurance Brokerage market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

REPORT SNAPSHOT

Industry Analysis & Industry Trends

Rising insurance premiums and a strong consumer preference for purchasing insurance policies from brokers have helped drive the Insurance Brokerage industry's growth over the past five years. Brokers provide advice and expertise to both commercial clients and private individuals, help explain the insurance process and match clients to the most suitable product. Additionally, brokers benefit insurers as they provide an additional distribution channel and act as a contract sales team. Strong policy sales have led to increased commissions for the industry, with revenue forecast to rise at an annualised 2.0% over the five years through 2016-17. This includes projected growth of 1.3% in the current year, to $12.5 billion...

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Industry Report - Industry Analysis Chapter

The Insurance Brokerage industry has grown steadily over the past five years. While the industry has faced strong competition from insurers selling directly to consumers, brokers have benefited from their reputation for impartiality. As a result, brokers and agents have increased their share of insurance policy distribution. Industry operators have also expanded their range of risk consulting, advisory and insurance support services, boosting revenue. As a result, industry revenue is forecast to grow at an annualised 2.0% over the five years through 2016-17, to reach $12.5 billion. This includes 1.3% growth projected for the current year.

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Industry Products

What is the Insurance Brokerage Industry?

The industry includes individuals and businesses that act primarily as agents or brokers in selling annuities and insurance policies. Industry participants earn commission income, mostly as a percentage of the premium of insurance policies sold. They also earn fee income for risk management consulting and claim assessment and adjustment services.

Industry Products
Commercial general products
Private general products
Life insurance
Health insurance
Other products and services
Industry Activities
Actuarial services
Claim assessment and adjustment
Operating insurance agencies
Insurance broking
Insurance consulting

Table of Contents

About this Industry

Industry Definition
Main Activities
Similar Industries
Additional Resources

Industry at a Glance

Industry Performance

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

Products & Markets

Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations

Competitive Landscape

Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
industry Globalisation

Major Companies

Operating Conditions

Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance

Key Statistics

Industry Data
Annual Change
Key Ratios

Jargon & Glossary

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