Industry Analysis & Industry Trends
The industry experienced slow, steady growth over the past five years. Increased competition from insurance carriers that hire their own sales forces or use online platforms has threatened industry participants during this time, prompting brokers and agents to focus on expanding their level of expertise and expanding their product line to include risk management and insurance consulting services. However, economic improvements for households and businesses over the next five years are expected to push demand and industry revenue up... purchase to read more
Industry Report - Industry Investment Chapter
The Insurance Brokers and Agencies industry operates with a low level of capital intensity. IBISWorld estimates that for every $1.00 spent on wages, the industry will allocate $0.03 to capital investment; this 2014 figure mirrors the industry's capital intensity in 2009. Yet, capital intensity varies extensively on the basis of firm size. For example, the industry's largest players, including Aon Corporation and Marsh & McLennan Companies, operate in hundreds of countries, and so have found it necessary to invest heavily in their distribution networks.
However, regardless of firm size, significant investments in professional talent and online distribution methods are becoming increasingly commonplace... purchase to read more