Insurance Brokerage Services: Procurement Market Intelligence, Industry Statistics, Supply Market Forecasts, Trends, Category Management Insights Now Available from SpendEdge

Business Wire

LONDON--(BUSINESS WIRE)-- SpendEdge, a global procurement market intelligence firm, has announced the release of their Global Insurance Brokerage Services Category - Procurement Market Intelligence Report.

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Global Insurance Brokerage Services Category - Procurement Market Intelligence Report. (Graphic: Business Wire)

A majority of buyers from different sectors are seeking assistance from brokers to find the best-suited insurers that provide E&S insurance. Currently, E&S insurance is witnessing a high demand since most of the insurance plans do not cover all the risks associated with the buyers’ business. This, on the other hand, is creating a substantial demand for insurance brokerage services on a global scale. The IT, professional services, and construction firms are rapidly adopting advanced technologies such as big data analytics and AI, which is exposing them to liability risks. To tackle such risks, the firms are procuring liability insurance brokerage, thereby supplementing the overall demand growth of insurance brokerage services. Download the free sample of this insurance brokerage procurement market intelligence report!

In the US, industries like hospitality, gaming, and education sectors typically deal with personally identifiable information and protected health information. This is making it imperative for buyers from these sectors to invest in cyber insurance brokerage services, which is acting as another critical driving force behind the category spend growth in the US. Possibilities of high growth opportunities in South America have been attracting the leading players in the insurance brokerage services industry. Most of such enterprises are engaging in merger and acquisition activities to solidify their market presence while reducing their OPEX and unlock new growth opportunities amid increasing market competition. These factors will exert a positive impact on the growth of the insurance brokerage market in the region.

This procurement market intelligence report informs on the insurance brokerage industry statistics and offers category management insights that can aid in devising a sustainable procurement strategy. This insurance brokerage procurement market intelligence report also highlights the current supply market developments to help the buyers choose the appropriate vendors who can promise a steady supply assurance along with quality solutions. Not what you are looking for? Request for personalization of this market intelligence report on insurance brokerage services.

“Buyers are advised to engage with suppliers that offer value-added services such as risk management and loss control services through regular inspections. This helps buyers understand the type of risks that needs to be covered in policy to ensure easy and timely claims settlement,” says SpendEdge procurement expert Sumit Yadav.

This procurement market intelligence report on insurance brokerage services has highlighted the following factors that will play crucial roles in influencing category spend. They include:

Rapid growth in healthcare insurance owing to the increased number of reforms and initiatives in emerging economies
The growing demand for E&S insurance
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SpendEdge’s procurement market intelligence reports for the financial services category offer information on critical cost drivers and category pricing strategies to help the buyers achieve significant cost-savings. The supply market forecasts offer information on supplier performance benchmarking criteria to help buyers reduce spend and establish better SLAs. Additionally, SpendEdge’s reports offer category management insights and procurement best practices for the category.

Report scope snapshot: Insurance brokerage services

Category ecosystem

Insurance brokerage industry statistics
Competitiveness index for suppliers
Threat of new entrants
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Category management enablers

Procurement organization
Category enablers
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Category definition

Category hierarchy
Category scope
Category map
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