Insurance Brokerage Market in Europe to grow by USD 7.60 bn |Technavio

NEW YORK, Feb. 24, 2022 /PRNewswire/ -- The insurance brokerage market In Europe is expected to grow by USD 7.60 billion from 2021 to 2026. The market is anticipated to witness a CAGR of 5.98%.

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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.

Microinsurance Market by Type and Geography - Forecast and Analysis 2021-2025

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

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

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