The “Insurance Brokerage Market in Europe Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026” report has been added to Technavio's offering. The report expects the market to observe an incremental growth of USD 7.60 billion between 2021 and 2026, accelerating at a CAGR of 5.98% during the forecast period. The analysts at Technavio have considered various aspects such as the consumer base, adoption rate, average selling price, revenue generated by vendors, and the food preferences across regions to estimate the market size. Download Sample PDF Report
Technavio categorizes the insurance brokerage market in Europe as a part of the global specialized consumer services market within the global diversified consumer services market. The parent global specialized consumer services market covers revenue generated by the consumer service providers, including residential services, home security services, legal services, personal services, renovation, and interior design services, consumer auction services, wedding services, and funeral services.
The insurance brokerage market in Europe is fragmented. The presence of numerous players in the market has led to intense rivalry among vendors. High exit barriers and intense competition among market players are some of the factors that increase competition among vendors during the forecast period. The aforementioned factors imply that the threat of rivalry is moderate. Therefore, the threat of rivalry was moderate in 2021, and it is expected to remain the same during the forecast period.
The report identifies 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. as some of the major market participants. Although the increased demand for insurance will offer immense growth opportunities, conflicts between insurance brokers and customers will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The insurance brokerage market in Europe is segmented as below:
- Type
- Retail
- Wholesale
The retail segment will account for the maximum market share. Business owners are significantly adopting retail insurance brokerage due to various benefits such as gathering insurance premiums, collecting data for insurance underwriters, renewing or revising existing policies for customers, and others. This is the key factor driving the growth of the segment.
- Geography
- UK
- France
- Germany
- Rest Of Europe
The UK will emerge as the key market for insurance brokerage in Europe, occupying 35% of the total market share. The presence of low-interest rates is the key factor driving the growth of the regional market. The increased population of working women is another major factor driving the growth of the insurance brokerage market in the UK.
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our insurance brokerage market in Europe report covers the following areas:
- Insurance Brokerage Market Size
- Insurance Brokerage Market Trends
- Insurance Brokerage Market Industry Analysis
We provide a detailed analysis of around 25 vendors operating in the insurance brokerage market in Europe. Backed with competitive intelligence and benchmarking, our research report on the insurance brokerage market in Europe is designed to provide entry support, customer profile, and M&As as well as go-to-market strategy support.
- CAGR of the market during the forecast period 2022-2026
- Detailed information on factors that will assist insurance brokerage market growth during the next five years
- Estimation of the insurance brokerage market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the insurance brokerage market in Europe
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of insurance brokerage market vendors
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Insurance Brokerage Market in Europe: Scope |
|
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 |
Regional analysis |
UK, France, Germany, and Rest of Europe |
Performing market contribution |
UK at 35% |
Key consumer countries |
UK, France, Germany, and Rest of Europe |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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 future consumer dynamics, and 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. |
1. Executive Summary
1.1 Market Overview
Exhibit 01: Key Finding 1
Exhibit 02: Key Finding 2
Exhibit 03: Key Finding 5
Exhibit 04: Key Finding 6
Exhibit 05: Key Finding 7
Exhibit 06: Key Finding 8
2. Market Landscape
2.1 Market ecosystem
Exhibit 07: Parent market
Exhibit 08: Market characteristics
2.2 Value chain analysis
Exhibit 09: Value chain analysis:
2.2.1 Inputs
2.2.2 Operations
2.2.3 Marketing and sales
2.2.4 Services
2.2.5 Innovations
3. Market Sizing
3.1 Market definition
Exhibit 10: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 11: Market segments
3.3 Market size 2021
3.4 Market outlook: Forecast for 2021 – 2026
Exhibit 12: Global – Market size and forecast 2021 – 2026 ($ billion)
Exhibit 13: Global market: Year-over-year growth 2021 – 2026 (%)
4. Five Forces Analysis
4.1 Five Forces Summary
Exhibit 14: Five forces analysis 2021 & 2026
4.2 Bargaining power of buyers
Exhibit 15: Bargaining power of buyers
4.3 Bargaining power of suppliers
Exhibit 16: Bargaining power of suppliers
4.4 Threat of new entrants
Exhibit 17: Threat of new entrants
4.5 Threat of substitutes
Exhibit 18: Threat of substitutes
4.6 Threat of rivalry
Exhibit 19: Threat of rivalry
4.7 Market condition
Exhibit 20: Market condition – Five forces 2021
5 Market Segmentation by Type
5.1 Market segments
Exhibit 21: Type – Market share 2021-2026 (%)
5.2 Comparison by Type
Exhibit 22: Comparison by Type
5.3 Retail – Market size and forecast 2021-2026
Exhibit 23: Retail – Market size and forecast 2021-2026 ($ billion)
Exhibit 24: Retail – Year-over-year growth 2021-2026 (%)
5.4 Wholesale – Market size and forecast 2021-2026
Exhibit 25: Wholesale – Market size and forecast 2021-2026 ($ billion)
Exhibit 26: Wholesale – Year-over-year growth 2021-2026 (%)
5.5 Market opportunity by Type
Exhibit 27: Market opportunity by Type
6. Customer landscape
6.1 Overview
Technavio's customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria
Exhibit 28: Customer landscape
7. Geographic Landscape
7.1 Geographic segmentation
Exhibit 29: Market share by geography 2021-2026 (%)
7.2 Geographic comparison
Exhibit 30: Geographic comparison
7.3 UK – Market size and forecast 2021-2026
Exhibit 31: UK – Market size and forecast 2021-2026 ($ billion)
Exhibit 32: UK – Year-over-year growth 2021-2026 (%)
7.4 France – Market size and forecast 2021-2026
Exhibit 33: France – Market size and forecast 2021-2026 ($ billion)
Exhibit 34: France – Year-over-year growth 2021-2026 (%)
7.5 Germany – Market size and forecast 2021-2026
Exhibit 35: Germany – Market size and forecast 2021-2026 ($ billion)
Exhibit 36: Germany – Year-over-year growth 2021-2026 (%)
7.6 Rest of Europe – Market size and forecast 2021-2026
Exhibit 37: Rest of Europe – Market size and forecast 2021-2026 ($ billion)
Exhibit 38: Rest of Europe – Year-over-year growth 2021-2026 (%)
7.7 Market opportunity by geography
Exhibit 39: Market opportunity by geography
8. Drivers, Challenges, and Trends
8.1 Market drivers
8.1.1 Increased demand for insurance policies
8.1.2 Increase in HNWIs
8.1.3 Implementation of distinct valuation strategies
8.2 Market challenges
8.2.1 Conflict between insurance brokers and customers
8.2.2 Stringent regulatory compliances
8.2.3 Direct purchase of insurance policies by customers
Exhibit 40: Impact of drivers and challenges
8.3 Market trends
8.3.1 Integration of IT and analytic solutions
8.3.2 Increased number of campaigns organized by vendors
8.3.3 Advent of digital marketing platform
9. Vendor Landscape
9.1 Competitive Scenario
9.2 Overview
Exhibit 41: Vendor landscape
The potential for the disruption of the market landscape was moderate in 2020, and its threat is expected to remain unchanged by 2025.
9.3 Landscape disruption
Exhibit 42: Landscape disruption
Exhibit 43: Industry risks
10. Vendor Analysis
10.1 Vendors covered
Exhibit 44: Vendors covered
10.2 Market positioning of vendors
Exhibit 45: Market positioning of vendors
10.3 AmWINS Group Inc.
Exhibit 46: AmWINS Group Inc. – Overview
Exhibit 47: AmWINS Group Inc. – Product and service
Exhibit 48: AmWINS Group Inc. – Key offerings
10.4 Aon Plc
Exhibit 49: Aon Plc – Overview
Exhibit 50: Aon Plc – Business segments
Exhibit 51: Aon Plc – Key offerings
Exhibit 52: Aon Plc – Segment focus
10.5 Arthur J. Gallagher and Co.
Exhibit 53: Arthur J. Gallagher and Co. – Overview
Exhibit 54: Arthur J. Gallagher and Co. – Business segments
Exhibit 55: Arthur J. Gallagher and Co. – Key offerings
Exhibit 56: Arthur J. Gallagher and Co. – Segment focus
10.6 Assured Partners Inc.
Exhibit 57: Assured Partners Inc. – Overview
Exhibit 58: Assured Partners Inc. – Product and service
Exhibit 59: Assured Partners Inc. – Key offerings
10.7 Blythin and Brown Ltd.
Exhibit 60: Blythin and Brown Ltd. – Overview
Exhibit 61: Blythin and Brown Ltd. – Product and service
Exhibit 62: Blythin and Brown Ltd. – Key offerings
10.8 HUB International Ltd.
Exhibit 63: HUB International Ltd. – Overview
Exhibit 64: HUB International Ltd. – Product and service
Exhibit 65: HUB International Ltd. – Key offerings
10.9 Lockton Companies
Exhibit 66: Lockton Companies – Overview
Exhibit 67: Lockton Companies – Product and service
Exhibit 68: Lockton Companies – Key offerings
10.10 Marsh and McLennan Companies Inc.
Exhibit 69: Marsh and McLennan Companies Inc. – Overview
Exhibit 70: Marsh and McLennan Companies Inc. – Business segments
Exhibit 71: Marsh and McLennan Companies Inc. – Key offerings
Exhibit 72: Marsh and McLennan Companies Inc. – Segment focus
10.11 NFP Corp.
Exhibit 73: NFP Corp. – Overview
Exhibit 74: NFP Corp. – Product and service
Exhibit 75: NFP Corp. – Key offerings
10.12 Willis Towers Watson Public Ltd. Co.
Exhibit 76: Willis Towers Watson Public Ltd. Co. – Overview
Exhibit 77: Willis Towers Watson Public Ltd. Co. – Business segments
Exhibit 78: Willis Towers Watson Public Ltd. Co. – Key offerings
Exhibit 79: Willis Towers Watson Public Ltd. Co. – Segment focus
11. Appendix
11.1 Scope of the report
11.1.1 Market definition
11.1.2 Objectives
11.1.3 Notes and Caveats
11.2 Currency conversion rates for US$
Exhibit 80: Currency conversion rates for US$
11.3 Research Methodology
Exhibit 81: Research Methodology
Exhibit 82: Validation techniques employed for market sizing
Exhibit 83: Information sources
11.4 List of abbreviations
Exhibit 84: List of abbreviations
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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