Global Insurance Agencies Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends

24 Aug, 2021

The insurance agencies market consists of sales of insurance policies by entities (organizations, sole traders, and partnerships) that act as agents in selling annuities and insurance policies.

Global Insurance Agencies Market Size And Drivers:

The global insurance agencies market is expected to grow from $109.91 billion in 2020 to $111.98 billion in 2021 at a compound annual growth rate (CAGR) of 1.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $135 billion in 2025 at a CAGR of 4.8%. Increased awareness about the benefits of insurance coverage is expected to drive the insurance agencies market.

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Trends In The Global Insurance Agencies Market

Introduction to technology-enabled services and platforms is a leading trend in the insurance agencies market. Insurance and technology companies are assisting insurance agencies by developing technology-enabled services and platforms for enhancing smooth customer experience and versatility.

Global Insurance Agencies Market Segments:
The global insurance agencies market is further segmented based on insurance, mode, end user and geography.
By Insurance: Life Insurance, Property & Casualty Insurance, Health & Medical Insurance, Others
By Mode: Online, Offline
By End User: Corporate, Individual
By Geography: The global insurance agencies market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Insurance Agencies Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides insurance agencies market overviews, analyzes and forecasts market size and growth for the global insurance agencies market, insurance agencies market share, insurance agencies market players, insurance agencies market segments and geographies, insurance agencies market’s leading competitors’ revenues, profiles and market shares. The insurance agencies market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.