Insurance Advisory Services Market Report 2026

The insurance advisory services market size has grown strongly in recent years. It will grow from $14.85 billion in 2025 to $16.11 billion in 2026 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to increasing complexity of insurance products, rising regulatory scrutiny, expansion of corporate insurance portfolios, growing demand for professional risk advice, development of specialized advisory practices.

The insurance advisory services market size is expected to see strong growth in the next few years. It will grow to $22.05 billion in 2030 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to increasing demand for enterprise risk optimization, rising adoption of technology-enabled advisory platforms, growing focus on solvency and compliance, expansion of specialty insurance advisory services, increasing reliance on third-party expertise. Major trends in the forecast period include increasing demand for risk-based advisory services, rising adoption of digital consultation models, growing focus on regulatory compliance advisory, expansion of customized insurance strategy services, enhanced use of data-driven risk analysis.

The expanding SME sector is expected to drive the growth of the insurance advisory services market in the coming years. SMEs, or small and medium-sized enterprises, operate on a smaller scale in terms of workforce and financial resources but play a significant role in economic development and job creation. The sector’s growth is fueled by increasing digital adoption, which allows SMEs to access broader markets, streamline operations, and compete more effectively with larger businesses. Insurance advisory services help SMEs identify and manage business risks, ensuring appropriate coverage to protect against financial losses and operational disruptions. For instance, in November 2024, the House of Commons Library reported that SMEs accounted for over 99% of all businesses in the UK, with around 5.5 million operating nationwide, generating 60% of employment and contributing 48% to overall business turnover.

Companies in the insurance advisory services market are increasingly focusing on integrated digital platforms to streamline risk placement and improve connectivity between brokers and insurers. Digital trading platforms automate data exchange, standardize risk information, and enable real-time matching between brokers and underwriters. For example, in May 2023, Willis Towers Watson (WTW), a UK-based advisory firm, launched Neuron, an end-to-end digital insurance platform. Neuron features a universal adapter connecting multiple broker and insurer systems, offering automation, governance, high-quality data flow, and faster, cost-efficient trading. By standardizing data formats and enabling seamless communication, the platform overcomes the limitations of disconnected digital insurance environments and supports scalable risk management.

In March 2025, Accenture Plc, an Ireland-based professional services company, acquired Altus Consulting for an undisclosed amount. The acquisition integrated Altus Consulting’s expert team into Accenture’s UK Insurance practice, bringing specialized knowledge in distribution, regulation, operations, data, and technology. This collaboration enhances Accenture’s ability to execute large-scale transformation initiatives by combining Altus’s software solutions and insights with its own technological and service capabilities. Altus Consulting, based in the US, specializes in providing insurance advisory services.

Major companies operating in the insurance advisory services market are FTI Consulting Inc., Lockton Companies LLC, AssuredPartners NL, Davies Group Limited, CBIZ Inc., Capco, EPIC Insurance Brokers & Consultants, Sia Partners Co., Moreton & Company, Kapnick Insurance Group, The Horton Group Inc., Scofield Insurance Consulting LLC, Risk International Services Inc., Angela Adams Consulting Services Inc., JPIC Group Ltd., Reagan Consulting Inc., Alakai Global Advisors LLC, Perr&Knight Inc., Mallery Financial Inc., Mingya Insurance Brokers Co. Ltd.

North America was the largest region in the insurance advisory services market in 2025. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the insurance advisory services market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the insurance advisory services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The insurance advisory services market includes revenues earned by entities by providing services such as customized insurance planning, renewal management services, risk transfer strategy design, and cost-benefit analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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