Insurance Brokerage Market in Europe — USD 7.60 Bn growth expected between 2021 and 2026

NEW YORK, Aug. 24, 2022 /PRNewswire/ -- 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

• Reinsurance Market Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026
• Life Annuity Insurance Market in Czech Republic Growth, Size, Trends, Analysis Report by Type, Application, Region and Segment Forecast 2022-2026

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.

Technavio ResearchJesse MaidaMedia & Marketing Executive
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Email: [email protected]
Website: www.technavio.com/
Newsroom: newsroom.technavio.com/news/insurance-brokeragemarket

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