Market Scope
The insurance brokerage market in Europe covers the following areas:
Insurance Brokerage Market In Europe Sizing
Insurance Brokerage Market In Europe Forecast
Insurance Brokerage Market In Europe Analysis
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Drivers and Trends
The increased demand for insurance policies is driving the insurance brokerage market growth in Europe. The expanding population of baby boomers and millennials generates growth opportunities for medical insurance, life insurance, accidental insurance, and others. Insurance brokers are focusing on insurance policies that provide maximum benefits for customers. The provision of security services and personalized financial services to customers has increased the demand for insurance products. Insurance firms are also focusing on investing in innovative insurance policies and services to tap their potential in insurance markets. Thus, increased awareness about the benefits of insurance policies will drive the growth of the insurance brokerage market in Europe during the forecast period.
The integration of IT and analytic solutions is one of the trends in the market. Analytic solutions help in propagating effective marketing strategies and underwriting services. Data analytics further helps firms in terms of product-design improvement and customer targeting. The integration of IT and data analytics helps prevent losses and fraudulent practices in the insurance brokerage market in Europe. Thus, the growing adoption of IT and data analytics solutions by the market vendors are anticipated to boost the growth of the market in focus during the forecast period.
Major Insurance Brokerage in Europe Companies
- AmWINS Group Inc.
- Aon Plc
- Arthur J. Gallagher and Co.
- Assured Partners Inc.
- Blythin and Brown Ltd.
- HUB International Ltd.
- Lockton Companies
- Marsh and McLennan Companies Inc.
- NFP Corp.
- Willis Towers Watson Public Ltd. Co.
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Market Segmentation
Insurance Brokerage Market In Europe Type Outlook (Revenue, USD bn, 2021-2026)
- Retail - size and forecast 2021-2026
- Wholesale - size and forecast 2021-2026
Insurance Brokerage Market In Europe Geography Outlook (Revenue, USD bn, 2021-2026)
- UK - size and forecast 2021-2026
- France - size and forecast 2021-2026
- Germany - size and forecast 2021-2026
- Rest of Europe - size and forecast 2021-2026
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Regional Analysis
The UK will account for 35% of the market's growth during the forecast period. Moreover, market growth in this country will be faster than the growth of the market in the Rest of Europe. The rising medical costs and a high percentage of the aging population will drive the insurance brokerage market growth in the UK during the forecast period.
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Insurance Brokerage Market Size in Europe |
Report Coverage |
Details |
Page number |
120 |
Base year |
2021 |
Forecast period |
2022-2026 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.98% |
Market growth 2022-2026 |
USD 7.60 billion |
Market structure |
Fragmented |
YoY growth (%) |
5.76 |
Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
Key companies profiled |
AmWINS Group Inc., Aon Plc, Arthur J. Gallagher and Co., Assured Partners Inc., Blythin and Brown Ltd., HUB International Ltd., Lockton Companies, Marsh and McLennan Companies Inc., NFP Corp., and Willis Towers Watson Public Ltd. Co. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of Contents
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2021
- Market outlook: Forecast for 2021 - 2026
Five Forces Analysis
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type
- Retail - Market size and forecast 2021-2026
- Wholesale - Market size and forecast 2021-2026
- Market opportunity by Type
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- UK - Market size and forecast 2021-2026
- France - Market size and forecast 2021-2026
- Germany - Market size and forecast 2021-2026
- Rest of Europe - Market size and forecast 2021-2026
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- AmWINS Group Inc.
- Aon Plc
- Arthur J. Gallagher and Co.
- Assured Partners Inc.
- Blythin and Brown Ltd.
- HUB International Ltd.
- Lockton Companies
- Marsh and McLennan Companies Inc.
- NFP Corp.
- Willis Towers Watson Public Ltd. Co.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Technavio
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Contacts
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SOURCE Technavio
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