|
|
 |
|
Viewing report
|
|
|
|
Insurance Agencies & Brokerages
First Research, Feb 2012, Pages: 10
First Research is the leading industry intelligence company that helps sales teams perform faster and smarter, open doors, and close more deals. First Research performs the heavy lifting' by synthesizing hundreds of sources into an easy to digest format that a sales person can consume very quickly to better understand a prospect's business issues.'
Executive Summary
Brief Excerpt from Industry Overview Chapter:
The US insurance agencies and brokerages industry includes about 135,000 establishments (single-location companies and branches of multi-location companies) with annual revenue of about $110 billion. Large companies include Marsh, Aon, Arthur J Gallagher, and State Farm. Despite the prominence of large companies in the commercial segment, the industry remains highly fragmented: the largest 50 firms only hold 20 percent of the total market. Many companies that primarily offer insurance products to businesses function mainly as brokers. Captive agencies operate as a sales agent for a single insurer, working on its behalf; independent brokers sell products from several providers.
The largest non-US global insurance firms by assets include Tokyo-based Japan Post Insurance Company, French insurer AXA SA, Germany's Allianz SE, and Italian firm Assicurazioni Generali. Insurance growth rates have been highest in Asia and Latin America.
See the Insurance Carriers profile for coverage of insurance providers and the Health Insurance Carriers profile for coverage of group health insurance providers.
COMPETITIVE LANDSCAPE
Demand is related to consumer income and commercial business activity. When the economy grows, so does the demand for personal and business insurance. When the economy contracts, as it did in the late 2000s, demand for insurance falls.
The profitability of individual agencies depends on effective marketing, client referrals, and customer service. Large agencies have advantages in name recognition, connections with more insurers, and the ability to craft more complex insurance packages. Although small agencies formerly competed by specializing in...
Product samples
A sample for this product is available. Please Login/Register to download this sample.
Customers who bought this item also bought
Insurance Carriers
Commercial Non-Life Insurance Brokers in Northern and Central Europe
Life Insurance Carriers
Asia-Pacific Insurance Industry - Global Strategic Business Report
Securities Brokerages
Non-Life/ Property & Casualty Insurance Industry - Global Strategic Business Report
Life, Pension, Health & Disability Insurance Industry - Global Strategic Business Report
Global Retailer Insurance: Affinity Schemes in Supermarkets and Other Stores
Canadian Insurance Industry - Global Strategic Business Report
European Insurance Industry - Global Strategic Business Report
|
|
|
|
