Equity Indexed Life Insurance Global Market Report 2023 – By Type (Whole life insurance, Universal life insurance, Variable universal life insurance, Indexed universal life insurance, Other Types), By Mode (Online, Offline), By Distribution Channel (Agency, Brokers, Bancassurance, Digital And Indirect Channels) – Market Size, Trends, And Global Forecast 2023-2032

A digital signature is an electronic signature and is equivalent to a handwritten signature or stamped seal. It offers more inherent security and is expected to solve the problems of tampering and impersonation. The main offerings of digital signature are software, hardware and services. Digital signature software is used by businesses to help them securely sign, send, and manage documents in order to facilitate the digital document signing process. The various deployment mode includes cloud and on-premises that are used by banking, financial services, and insurance (BFSI), IT and telecommunications, government, health care and life sciences, education, retail, real estate and other end users. The global digital signature market is segmented - 1) By Offering: Software, Hardware, Services 2) By Deployment: Cloud, On-premises 3) By End User: Banking, Financial services, and Insurance (BFSI), IT and Telecommunications, Government, Health care and life sciences, Education, Retail, Real Estate, Other End-Users The global digital signature market size will grow from $5.1 billion in 2022 to $6.78 billion in 2023 at a compound annual growth rate (CAGR) of 32.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global digital signature is expected to grow to $21.08 billion in 2027 at a CAGR of 32.8%. Supporting policies by the governments of various nations drove the digital signature market. For instance, the US government has passed an act called the 21st Century Integrated Digital Experience Act (also known as 21st Century IDEA Act). The 21st Century IDEA Act created a set of minimum functionalities and security standards that federal agencies must meet. According to this Act, the agencies must offer digital versions of paper-based citizen services and accept digital signatures, thereby, allowing citizens to complete transactions digitally. Such policies by the government of various nations have boosted the demand for the digital signature market. Major players in the digital signature market are Adobe systems, DocuSign Inc., Ascertia, Identrust, SIGNiX, Gemalto, Entrust Datacard Corporation, Kofax Limited (a Lexmark Company), Rpost Technologies, Secured Signing Limited, OneSpan, Hellosign, Globalsign, MultiCert, RightSignature, Zoho Corp., Esignlive By VasCo., Arthur D. Little, Shachihata Inc., Glykka LLC., eSign Genie, SignaShare, KeepSolid Inc., GetAccept Inc., Symtrax Holdings Inc., Microsoft Corporation, International Business solutions LLC., Korea SYSTEM’s TECH Inc., Kotrade Inc. and Oracle Corporation. The lack of awareness about the legality of the digital signature is a major challenge for the digital signature market. Several countries have formulated laws assigning legal validity to digital signatures to ensure authenticity and security. For instance, ESIGN Act (Electronic Signature in Global and National Commerce Act), GPEA (Government Paperwork Elimination Act), EU law (EU Directive for Electronic Signatures), and Indian IT Act 2000, among others. However, the public across various countries are unaware of the existence of the digital signature law. This is mainly because of the lack of proper communication on the adoption of laws and regulations. Due to the complexity of regulations and the difficulty of understanding laws, the public seems to be unaware of the details. Therefore, the lack of awareness about the legality of a digital signature is limiting the adoption of digital signatures thereby impacting the market growth. The digital signature solutions providing companies are integrating blockchain technology with the digital signature. The goal of integrating blockchain with a digital signature is to offer users the possibility to certify integrity and time stamp. For instance, DocuSign collaborated with Visa for the public prototypes of a blockchain-based smart contract. A blockchain-based smart contract turns the contract into a computer program and the internet-connected program monitors and triggers the relevant actions on the contract's terms. In May 2020, Visma, a Norway-based software consulting and developing company, acquired the digital signature and document management provider Zetech for an undisclosed amount. The acquisition is expected to add nearly 1,000 new customers and a million users across five countries and strengthen Visma's ability to provide resilient cloud solutions to Latin America. Asia-Pacific was the largest region in the digital signature market in 2022. Asia-Pacific is expected to be the fastest-growing region in the digital signature market report during the forecast period. The regions covered in the digital signature analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the digital signature market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The digital signature market includes revenues earned by entities by providing digital signature solutions. The digital signature solutions include software and hardware solutions, and related services. 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. The digital signature market research report is one of a series of new reports from The Business Research Company that provides digital signature market statistics, including digital signature industry global market size, regional shares, competitors with a digital signature market share, detailed digital signature market segments, market trends and opportunities, and any further data you may need to thrive in the digital signature industry. This digital signature market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Revenue cycle management is the financial process, utilizing medical billing software, that healthcare facilities use to track patient care episodes from registration and appointment scheduling to the final payment of a balance. The main types of products in revenue cycle management software are integrated and standalone. The degree of coordination of leadership, operational teams, and business support systems across the many business divisions that enable the continuum of care is referred to as integrated revenue cycle. The different functions include claim and denial, medical billing and coding, patient insurance eligibility check, payment remittance, electronic health record (EHR), clinical documentation improvement (CDI), others and involves various deployment types such as web based, on premise, cloud based. The global revenue cycle management software market is segmented - 1) By Product: Integrated, Standalone 2) By Function: Claim And Denial, Medical Biling And Coding, Patient Insurance Eligibility Check, Payment Remittance, Electronic Health Record (EHR), Clinical Documentation Improvement (CDI), Other Functions 3)By Deployment: Web based, On premise, Cloud based The global revenue cycle management software market size grew from $46.14 billion in 2022 to $51.03 billion in 2023 at a compound annual growth rate (CAGR) of 10.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global revenue cycle management software is expected to grow from $76.9 billion in 2027 at a CAGR of 10.8%. The rise in the number of hospital and outpatient visits is expected to drive the revenue cycle management software market. Surging healthcare expenditure from an increase in patient visits to the hospital urges the service providers to provide hassle-free services during payment and keep a record of patients’ payments. According to the National Health Expenditure Projections 2018-2027, the USA national healthcare expenditure is expected to reach nearly $6.0 trillion by 2027, growing at an average rate of 5.5% annually, during the period. The increase in the number of patient visits impels the healthcare service providers to adopt revenue cycle management software in healthcare facilities that will provide faster and more accurate claims transmission allowing flexibility in arranging patient care. Major players in the revenue cycle management software market are Accretive Health, Billing Blues, 3M Health Information Systems, QWay Health, MedSecretery, Medserv, Medical Accounting Services, Patient Billing, R1 RCM and Australian Medical Billing Service. The lower adoption rate of automated systems due to the shortage of skilled professionals limits the growth of the revenue cycle management software market. An inefficient revenue cycle management system leads to loss of revenues and productivity. The providers are facing issues in leveraging the technology to drive long-term process improvement. For instance, it was estimated that only 14% of healthcare providers use advanced modeling tools to predict patients’ ability to pay. This limits the ability of front-office staff to have financial discussions at the point of service. Many service providers have not upgraded their technology due to lack of technical knowledge, awareness, and resources restraining the revenue cycle management software market. Incorporating artificial intelligence (AI) in revenue cycle management software is shaping the revenue cycle management software market. Major healthcare analytics leaders are actively implementing or planning to execute an AI strategy that will help make decisions faster and reduce operational expenses. For instance, in May 2022, Cerner, a US-based healthcare technology company, collaborated with AKASA. Through the collaboration, Cerner customers had access to AKASA's AI-based Unified Automation platform, which was created specifically for the healthcare industry. AKASA is a US-based AI-powered automation company for revenue cycle management in healthcare. In June 2020, R1 RCM, a Chicago-based healthcare revenue management cycle company serving hospitals and physician groups, agreed to acquire Cerner RevWorks for a deal amount of $30 million. The acquisition is expected to extend the comprehensive revenue cycle capabilities of R1 and help driving sustainable financial improvements for healthcare providers and to enhance their patients' overall experience. RevWorks is a revenue cycle management-outsourcing division of Cerner. North America was the largest region in the revenue cycle management software market in 2022. Western Europe was the second largest region in the revenue cycle management software market report. The regions covered in the revenue cycle management software analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the revenue cycle management software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA. The revenue cycle management software market consists of sales of solutions and services related to revenue cycle management. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. 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. The revenue cycle management software market research report is one of a series of new reports from The Business Research Company that provides revenue cycle management software market statistics, including revenue cycle management software industry global market size, regional shares, competitors with a revenue cycle management software market share, detailed revenue cycle management software market segments, market trends and opportunities, and any further data you may need to thrive in the revenue cycle management software industry. This revenue cycle management software market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Advertising agencies are in charge of initiating, managing and implementing paid marketing communications. It creates the ads, plans how, when, and where they will be delivered, and then delivers them to the client. The main types of advertising agencies are TV, digital, radio, print, out-of-home (OOH), and others. A digital agency is primarily concerned with marketing the company's products and services on the internet using website design and development, search engine optimization (SEO), content marketing, paid online advertising, social media, email marketing, and other services. The various modes of advertising include online advertising and offline advertising and are used by the following: banking, financial services, and insurance sector (BFSI), consumer goods and retail, government and public sector, IT & telecommunication, healthcare, and media & entertainment. The global advertising agencies market is segmented – 1) By Mode: Online Advertising, Offline Advertising 2) By Type: TV, Digital, Radio, Print, Out-of-home (OOH), Other Types 3) By End-User Industry: Banking, Financial Services, and Insurance Sector (BFSI), Consumer Goods and Retail, Government and Public Sector, IT & Telecom, Healthcare, Media & Entertainment The global advertising agencies market size will grow from $372.55 billion in 2022 to $391.6 billion in 2023 at a compound annual growth rate (CAGR) of 5.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size in the global advertising agencies is expected to grow to $463.83 billion in 2027 at a CAGR of 4.3%. An increase in advertisement spending across industries is expected to drive the demand for the advertising agencies market. Video and mobile ads are major contributors to the increase in ad investment. Digital advertising has recently surpassed total TV ad spending. For instance, according to WordStream, a marketing company, digital ad spend was estimated at $441 billion in 2022 and projected to reach $485 billion in 2023, globally. Similarly, according to the Global Digital Ad Trends report published by PubMatic 2020, a digital advertising technology company, the US digital ad spend was $129.3 billion in 2019 and is projected to reach $201.8 billion in 2023, constituting 66.7% of total spending. This shows that in the US, digital ad spending surpassed traditional media spending. The retail industry has the highest percentage of total advertising spend on advertising. Therefore, the rise in advertising spending is predicted to fuel the demand for the advertising agencies market. Major players in the advertising agencies market are Caveni Digital Solutions, Socialiency Advertising, Tegra, BrandBurp Digital, Plan Z, Titan SEO Group, Breakneck Creative, Thevisiontech, Dentsu Inc., WPP PLC and Omnicom Group Inc. The high cost of hiring an advertising agency, especially during tough economic times, is limiting the growth of the advertising agencies market. For instance, in smaller regions or markets, the cost of hiring an advertising agency could vary anywhere from $95 to $225 per hour, depending on the service and the skill of the person supplying that service. The average cost for digital marketing services ranges from $2,500 to $12,000 per month for small-to-midsized businesses (SMBs). Thus, the high costs associated with hiring an advertising agency are likely to hinder the growth of the market over the forecast period. The launch of artificial intelligence (AI) in advertising is gaining popularity in the advertising agencies market. Major players operating in the industry are continuously focused on introducing innovations and technologies to better serve the needs of consumers. For instance, as of MAY 2022, Kantar, launched Link AI for Digital. This is an artificial intelligence (AI) advertising testing tool designed for digital advertising formats. The Link AI for Digital solution predicts the in-market performance of a digital ad. The Link AI for Digital was trained on more than 230,000 survey-enabled ad tests and 30 million real-world interactions. In August 2021, Principle America Co. Ltd., a subsidiary of Tokyo-based digital marketing agency, Principle Company, acquired Eboost Consulting for an undisclosed amount. With this acquisition, Eboost will give its industry-leading social media advertising and PPC consulting services to Japanese companies growing into North America, as well as help U.S. organisations expand globally into the Japanese and APAC sectors. Eboost Consulting is a US-based digital marketing agency. North America was the largest region in the advertising agencies market in 2022. Western Europe was the second largest region in the global advertising agencies market share. The regions covered in the global advertising agencies market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the advertising agencies market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The advertising agencies market consists revenue earned by entities by involving in marketing activities such as planning, developing, creating and managing advertisement campaigns and promotional activities in newspapers, radio, television, websites and social media sites. These establishments are organized to provide a full range of services (i.e., through in-house capabilities or subcontracting), including advice, creative services, account management, production of advertising content, media planning, and buying (i.e., placing advertising). 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 specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products. The advertising agencies market research report is one of a series of new reports from The Business Research Company that provides advertising agencies market statistics, including advertising agencies industry global market size, regional shares, competitors with an advertising agencies market share, detailed advertising agencies market segments, market trends and opportunities, and any further data you may need to thrive in the advertising agencies industry. This advertising agencies market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Reinsurance is when several insurance firms pool their risk by buying insurance from other insurers to reduce their own overall loss in the event of a catastrophe. The main types of reinsurance are property and casualty reinsurance and life and health reinsurance. Life and health reinsurance is a type of reinsurance that covers both health and life.The services are offered through online and offline modes to domestic and international organizations. Direct writing and broker are two of the distribution channels involved. The global reinsurance market is segmented - 1) By Type: Property And Casualty Reinsurance, Life And Health Reinsurance 2) By Distribution Channel: Direct Writing, Broker 3) By Mode: Online, Offline 4) By Organization Location: Domestic, International The global reinsurance market size grew from $574.27 billion in 2022 to $632.15 billion in 2023 at a compound annual growth rate (CAGR) of 10.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global reinsurance market is expected to grow to $895.4 billion in 2027 at a CAGR of 9.1%. Reinsurance providers are integrating their processes with blockchain technology to reduce costs, increase efficiency, transparency, and security associated with client data and other financial transactions. A blockchain is a distributed decentralised ledger and is a shared database (can be saved, owned, and updated at different levels), not managed by a central authority, comprising secure transactions that are authenticated and verifiable. It reduces processing time and transaction costs, improves compliance, avoids re-entries, claims leakages, and fraud, minimises time to settle losses, and ensures cryptographic security. For instance, blockchain technology could reduce the costs of reinsurance companies by more than $5 billion globally. Major companies in the reinsurance market include Munich Re, SWISS Re, Hannover Re, Talanx, SCOR SE, Berkshire Hathaway Inc., China Reinsurance (Group) Corp, Lloyd’s of London, Axa Group, Reinsurance Group of America Inc. Reinsurers across the globe are offering bundled products and services to enhance their revenues. This change is a result of diverse choices, attractive prices, and broader coverage offered by reinsurers to gain additional market share and cut costs. This approach has helped global reinsurers to close business deals at a group level, thereby reducing the need for reinsurance at different levels. For instance, reinsurance companies Generali and Allianz have adopted a bundled approach, enabling them to get better oversight of the global market and cut down on the cost of offering reinsurance services. Western Europe was the largest region in the reinsurance market share in 2022. The Asia-Pacific was the second largest region in the reinsurance market. The regions covered in the global reinsurance industry report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the reinsurance market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The reinsurance market consists of sales of reinsurance products by entities that assume all or part of the risk of existing insurance policies originally underwritten by other insurance providers (direct insurance carriers). Reinsurance providers invest premiums collected from insurance providers to build up a portfolio of financial assets to be used against future claims. The size of the market is based on the value of the premiums reinsured. 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. The reinsurance research report is one of a series of new reports from The Business Research Company that provides reinsurance statistics, including reinsurance industry global market size, regional shares, competitors with reinsurance shares, detailed reinsurance segments, market trends and opportunities, and any further data you may need to thrive in the reinsurance industry. This reinsurance research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

Insurance is a contract under which an individual or entity receives financial protection or reimbursement/compensation for any damages from an insurance company. Reinsurance is when several insurance firms pool their risk by buying insurance from other insurers to reduce their own overall loss in the event of a catastrophe. Insurance brokerage is the business of providing people with independent advice about what insurance is available from various companies and arranging insurance for them. The main types of insurance, reinsurance, and insurance brokerage are insurance; insurance brokers and agents; and reinsurance. Insurance refers to the life, health, or other insurance that is taken for protection in case of emergencies. The various modes involved are online and offline modes that are used by corporate and individual end-users. The global insurance, reinsurance and insurance brokerage market is segmented - 1) By Type: Insurance, Insurance Brokers And Agents, Reinsurance 2) By Mode: Online, Offline 3) By End User: Corporate, Individual Subsegments Covered: Life Insurance, Property & Casualty Insurance, Health & Medical Insurance, Insurance Agencies, Insurance Brokers, Bancassurance, Other Intermediaries, Property & Casualty Reinsurance, Life & Health Reinsurance The global insurance, reinsurance and insurance brokerage market size grew from $6936.15 billion in 2022 to $7548.38 billion in 2023 at a compound annual growth rate (CAGR) of 8.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global insurance, reinsurance and insurance brokerage market is expected to grow to $10097.08 billion in 2027 at a CAGR of 7.5%. The rapid growth in internet penetration and the increased risks associated with internet use for critical transactions are driving the demand for cyber insurance. Cyber insurance covers internet-based risks and risks related to information technology infrastructure. It also covers property theft, business interruption, software and data loss, cyber extortion, network failure liability, cyber-crime, and physical asset damage. For instance, in 2021, according to the National Health Authority of India, an Indian government agency, there were 1.18 billion mobile connections, 600 million smartphones, and 700 million Internet users in India, which is increasing by 25 million every quarter. Therefore, the rapid growth in internet penetration and the increased risks associated with internet use drive the insurance, reinsurance, and insurance brokerage markets. Major companies in the insurance, reinsurance, and insurance brokerage market include Allianz Group, Ping An Insurance, Axa Group, Anthem Inc., China Life Insurance, Centene, People's Insurance Company of China, Humana, Assicurazioni Generali S.p.A., and Japan Post Group. Peer-to-peer insurance is gradually gaining prominence both in emerging and developed markets, driven by the reduced cost of premiums in emerging countries resulting from improved internet penetration in those regions. Peer-to-peer insurance is based on pooling insurance premiums of participating individuals that can be used to compensate for future uncertain losses and share the left-over amount among participants. It aims to reduce premium and overhead costs compared to traditional insurance providers, decrease inefficiencies, and increase the transparency of businesses. North America was the largest region in the insurance, reinsurance, and insurance brokerage market share in 2022. Asia/Pacific was the second largest region in insurance, reinsurance, and insurance brokerage. The regions covered in the global insurance, reinsurance, and insurance brokerage market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the insurance, reinsurance, and insurance brokerage market are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam. The insurance, reinsurance and insurance brokerage market consists of sales of insurance products by entities that are engaged in providing insurance and related activities such as underwriting (assuming the risk and assigning premiums) policies, insurance brokerage and reinsurance. The insurance industry is categorized on the basis of the business model of the firms present in the industry. Some insurance firms may offer other services financial or otherwise. Contributions and premiums are set on the basis of actuarial calculations of probable payouts based on risk factors from experience tables and expected investment returns on reserves. The value of the market is based on the premiums paid by those insured, both commercial and personal as well as the fees or commissions paid to brokers. 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. The insurance, reinsurance, and insurance brokerage research report is one of a series of new reports from The Business Research Company that provides insurance, reinsurance, and insurance brokerage statistics, including insurance, reinsurance, and insurance brokerage industry global market size, regional shares, competitors with insurance, reinsurance, and insurance brokerage shares, detailed insurance, reinsurance, and insurance brokerage segments, market trends and opportunities, and any further data you may need to thrive in the insurance, reinsurance, and insurance brokerage industry. This insurance, reinsurance, and insurance brokerage research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

An insurance agency is a business or individual authorized by an insurance company to sell their insurance products on their behalf. They find, write, and bind policies between their clients and insurance companies. The main types of insurance agencies are life insurance, property and casualty insurance, health and medical insurance, and other insurance. Life insurance refers to the contract between the insurer and the insurance policyholder that promises to pay a total sum of money upon the death of an insured person. The services are provided in various modes, such as online, offline. These are used by corporations and individuals. The global insurance agencies market is segmented - 1) By Insurance: Life Insurance, Property And Casualty Insurance, Health And Medical Insurance, Other Insurance 2) By Mode: Online, Offline 3) By End User: Corporate, Individual The global insurance agencies market will grow from $125.59 billion in 2022 to $132.27 billion in 2023 at a compound annual growth rate (CAGR) of 5.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global insurance agencies market is expected to grow to $156.46 billion in 2027 at a CAGR of 4.3%. Increased awareness about the benefits of insurance coverage is expected to drive the insurance agency's market. The pandemic has alerted the public and made them aware of the uncertainty, which led them towards opting for insurance to protect their and their family's lives. For instance, according to the Max Bupa survey on the difference of mindset of people before and after the COVID-19 onset, during pre-COVID times the percentage of buyers and planners for comprehensive plans was 32% and 41%, respectively. The demand for insurance plans has seen a significant increase over the last few months, with the percentages of buyers and people intending to buy rising to 55% and 60%, respectively. These insurance agencies help the people in obtaining the best insurance policy as per their needs and budget. Hence, a higher awareness rate among the public on the benefits of insurance coverage aids in the growth of the insurance agencies market. Major players in the market are McGriff Insurance Services, Marsh & McLennan Agency LLC., Aon PLC., Brown & Brown Insurance Inc., HUB International Ltd., and USI Insurance Services. Change in consumers' behavior of approaching the insurance providers directly for availing insurance policies instead of insurance agencies is expected to hinder the market growth. Customers feel empowered to forego agents and brokers as most of the insurance providers are providing online services. According to Capgemini and Efma’s World Insurance Report 2020, people of all ages are now adopting a millennial mentality where they trust their research through a variety of channels, primarily digital channels to gather information and directly purchase insurance products online. Moreover, online term plans offered by life insurance companies are comparatively 20-30% cheaper than offline ones. Thus, changing customer approach towards insurance agencies eliminates the involvement of agencies and brokers in the process of insurance purchase, which in turn is restricting the growth of the 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. For instance, April 2020, Aureus Analytics, an artificial intelligence technology company, partnered with HawkSoft to help independent insurance agents understand better how well their agency serves the insured. Furthermore, in October 2021, a digital asset financial services platform called BVNK was launched which would make crypto financial services more accessible to the patients. In March 2020, USI Insurance Services, a USA-based consulting and insurance brokerage firm with expertise in risk management, employee benefits, and retirement plan consulting, acquired Full Service Insurance Agency, Inc. for an undisclosed amount. This acquisition is expected to expand USI Insurance Services' commercial, employee benefit, and personal risk expertise into Tennessee. Full-Service Insurance, Inc., is a US-based insurance agency concentrating on commercial insurance, employee benefits, and risk solutions for businesses and individuals. North America was the largest region in the insurance agencies accounting for in 2022. Western Europe was the second largest region in the global insurance agencies market share. The regions covered in the global insurance agencies market report analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the insurance agencies market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The insurance agencies market consists of sales of insurance products by entities that act as agents in selling annuities and insurance policies. This market excludes the direct selling of insurance products by insurance companies. The value of the market is based on the fees or commissions paid to brokers by the insured, both commercial and personal. 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 specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products. The insurance agencies research report is one of a series of new reports from The Business Research Company that provides insurance agency statistics, including insurance agencies industry global market size, regional shares, competitors with insurance agencies share, detailed insurance agencies segments, market trends and opportunities, and any further data you may need to thrive in the insurance agencies industry. This insurance agencies research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

An insurance broker is a person who is authorized to sell insurance and frequently collaborates with numerous insurance providers to provide customers with a range of products. The main types of insurance brokers are life insurance, general insurance, health insurance, others. Life insurance in the insurance brokers market refers to the contract between the insurer and the insurance policyholder that promises to pay a total sum of money upon the death of an insured person. The services are offered in various modes, such as offline, and online mode. These are used by corporate, and individuals. The global insurance brokers market is segmented - 1) By Type: Life Insurance, General Insurance, Health Insurance, Other Types 2) By Mode: Offline, Online 3) By End User: Corporate, Individual The global insurance brokers market will grow from $98.82 billion in 2022 to $105.33 billion in 2023 at a compound annual growth rate (CAGR) of 6.6% . The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global insurance brokers market is expected to grow to $130.35 billion in 2027 at a CAGR of 5.5%. The increasing demand for insurance policies is expected to fuel the growth of the insurance brokers market over the forecast period. The demand for insurance policies has risen due to the availability of security services and customized financial services to clients. According to the Insurance Regulatory and Development Authority (IRDAI) of India, the Life Insurance Corporation of India sold 2.17 crore insurance policies in the fiscal year 2021-2022 which was an 3.54% increase from previous year’s 2.10 crore policies. Therefore, the increasing demand for insurance policies drives the growth of the insurance brokerage market. Major players in the market are Aon PLC., Arthur J. Gallagher & Co., BB&T Corp., Brown & Brown Insurance Inc., HUB International Ltd., Marsh & McLennan Companies Inc., NFP Corp., Willis Towers Watson PLC., Wells Fargo Insurance Services, and Meadowbrook Insurance Group. The impact of COVID-19 is predicted to limit the growth of the insurance brokers market over the forecast period. The COVID-19 pandemic has taken the lives of millions of people, affected supply chains & business sectors, and disrupted economies worldwide. The coronavirus outbreak has several impacts on the insurance sector, from employee and business continuity concerns to customer care considerations to the financial outlook. For instance, the Indian insurance industry's productivity has been hit by 30% in March 2020. The pandemic has pushed the insurance industry to heavily depend on digitalization for selling new policies, setting up claims, and making other transactions. Therefore, the impact of COVID-19 restraints the growth of the insurance brokers market. The integration of AI in the insurance sector is a key trend gaining popularity in the insurance brokers market. The combined power of AI and human creativity enables the Intelligent Broker, an automation programme for the insurance industry. Brokers will be able to resolve complicated obstacles, produce innovative products and services, and join or build new markets. In addition to this, AI in the insurance industry will improve customer service and prevent customers from fraud. In 2021, 60% of the insurance companies are targeting AI to be used in decision making and to reduce manual input, which has doubled in the last two years. In March 2020, Aon, a UK-based global professional services firm that is engaged in selling a wide range of financial risk-mitigation products, including pension administration, insurance, and health-insurance plans, acquired Willis Towers Watson for $30 billion. The acquisition provided Aon with the ability to serve clients in areas including intellectual property, cyber, and climate risk to the company clients. Moreover, the deal will accelerate the innovations and strengthen the company’s position in the insurance industry with more relevant solutions for clients. Willis Towers Watson is a British-American company engaged in providing risk management, insurance brokerage, and advisory services. North America was the largest region in the insurance brokers market in 2022. Western Europe was the second largest market in the global insurance brokers market share. The regions covered in the global insurance brokers market report analysis are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the insurance brokers market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The insurance brokers market consists of sales of insurance products by entities that act as intermediaries (i.e., agents or brokers) in selling annuities and insurance policies. This market excludes the direct selling of insurance products by insurance companies. The value of the market is based on the fees or commissions paid to brokers by the insured, both commercial and personal. 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 specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products. The insurance brokers research report is one of a series of new reports from The Business Research Company that provides insurance brokers statistics, including insurance brokers industry global market size, regional shares, competitors with insurance brokers share, detailed insurance brokers segments, market trends and opportunities, and any further data you may need to thrive in the insurance brokers industry. This insurance brokers research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Life reinsurance is an insurance practice in which one insurance company buys its own insurance contract to protect itself against a large loss to a large group of their current life insurance clients' policies. Reinsurance programs pay health insurers to help them offset the costs of enrollees who have large medical claims. The main types of life and health reinsurance are facultative reinsurance and treaty reinsurance. Facultative reinsurance refers to the coverage that is purchased by the insurer primarily to cover a single risk. The various products are life and health. The distribution channels involved are direct response, agents & brokers, banks, and other distribution channels. The global life and health reinsurance market is segmented – 1) By Type: Facultative Reinsurance, Treaty Reinsurance 2) By Distribution Channel: Direct Response, Agents & Brokers, Banks, Other Distribution Channels 3) By Product: Life, Health The global life & health reinsurance market size will grow from $163.59 billion in 2022 to $173.74 billion in 2023 at a compound annual growth rate (CAGR) of 6.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global life & health reinsurance is expected to grow to $214.9 billion in 2027 at a CAGR of 5.5%. The rise in the demand for life and health insurance policies is expected to drive the life and health reinsurance industry during the forecast period. The COVID-19 outbreak has raised the importance and demand for life insurance in the minds of the people. The uncertainty of getting diagnosed with COVID-19 and its high treatment cost in private hospitals is the main reason behind the surge in demand for life and health insurance policies. For instance, in the fiscal year2021-2022, Life Insurance Corporation (LIC), India’s largest life insurer, sold around 2.17 crore policies. Therefore, increased demand for life and health insurance policies is expected to impact the growth of life and health reinsurance market positively. Major players in the life and health reinsurance market are Swiss Reinsurance Company Ltd., Munich Re Group, Reinsurance Group of America (RGA), SCOR SE, Hannover Re, China Reinsurance Corporation, Berkshire Hathaway Re, PartnerRe Ltd., Korean Reinsurance Company, Taiping Reinsurance Co., Great-West Life Co., and General Insurance Corporation of India (GIC Re) . Low interest rates in life and health insurance policies make the insurance company's products less attractive, which results in lower sales and lower income in the form of premiums that the insurance company has available to invest in. Therefore, a low interest rate is expected to be a restraint on the life and health reinsurance markets during the period. Munich Re, a German-based reinsurance company, indicated that interest rates, exacerbated by the coronavirus pandemic, are impacting the profitability of reinsurers. Due to this, insurance cover is likely to become more expensive, impacting the growth of the market, which in turn will hinder the life and health reinsurance market as well. The increasing demand for artificial intelligence in life and health reinsurance is an emerging trend in the life and health reinsurance market. According to Reinsurance News, Swiss Re is partnering with Tencent’s WeBank to research artificial intelligence use in reinsurance. Swiss Re and WeBank will work collaboratively to explore the technology involved in addressing the challenges imposed by data silos. Swiss Re is expecting the partnership to build a foundation for a new business supported by federated learning and will also encourage the reinsurance industry to adopt a new framework to improve technological capabilities. In January 2020, HDFC Ergo, a Mumbai-based general insurance company, acquired a 50.08% stake in Apollo Munich Health Insurance for $183 million (INR 1,494 crore). The acquisition would combine the expertise of both companies to provide better value to their customers. Apollo Munich Health Insurance is an India-based insurance company. North America was the largest region in the life and health reinsurance market in 2022. Western Europe was the second largest market in the life and health reinsurance market share. The regions covered in the global life and health reinsurance market analysis report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa. The countries covered in the life and health insurance market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The life & health reinsurance market consists of sales of life & health reinsurance products by entities that are engaged in assuming all or part of the risk with existing life and health insurance policies originally underwritten by other insurance providers (direct insurance carriers). The size of the market is based on the value of the premiums reinsured. 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 specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products. The life and health reinsurance market research report is one of a series of new reports from The Business Research Company that provides life and health reinsurance statistics, including global life and health reinsurance market size, regional shares, competitors with life and health reinsurance shares, detailed life and health reinsurance segments, life and health reinsurance market trends and opportunities, and any further data you may need to thrive in the life and health reinsurance industry. This life and health reinsurance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.