Global insurance brokerage market is anticipated to witness a striking growth during the forecast period, 2021-2028. Property & casualty sub-segment is expected to hold largest market share. Retail brokerage sub-segment is expected to be the most profitable. The North America region is expected to dominate the market.
New York, USA, July 05, 2021 (GLOBE NEWSWIRE) — According to a report published by Research Dive, the global insurance brokerage market is projected to register a revenue of $515.3 billion at a CAGR of 5.4% during the forecast period (2021-2028), increasing from $317.9 billion in 2020. The comprehensive report provides a brief overview of the current market scenario including significant aspects of the market such as growth factors, restraints, challenges, and numerous opportunities. The report also provides all the market estimations making it easier as well as helpful for the new participants to get better idea of the market.
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Dynamics of the Market
Drivers: Insurance brokers and agents are heavily investing in digital technologies to provide online assistance to customers and increase their sales and margins. The online platforms and other mobile applications are envisioned to improve business processing efficiency and decrease costs. These are the main factors responsible for the growth of the insurance brokerage market during the forecast period.
Restraints: The lack of…