Dublin, Sept. 17, 2024 (GLOBE NEWSWIRE) -- The "Insurance Distribution Market (2024 Edition): Analysis by End User, Type, Distribution Channel, Region, and Country: Market Insights and Forecast (2020-2030)" report has been added to ResearchAndMarkets.com's offering.
The Global Insurance Distribution market showcased growth at a CAGR of 7.95% during 2020-2023. The market was valued at USD 546.1 billion in 2023, and is expected to reach USD 1.11 trillion in 2030.
Global demand for insurance distribution is rising due to economic growth, especially in emerging markets like China, India, and Brazil. As economies expand, both businesses and individuals accumulate wealth, increasing the need for insurance to protect assets. The growing middle class in these regions also fuels demand for life, health, property, and casualty insurance, as people seek to safeguard their incomes and assets.
Globalization and international trade further boost insurance needs, with businesses managing risks through products like trade credit and political risk insurance. Similarly, cross-border travel and work drive demand for expatriate health and travel insurance.
Increased life expectancy, advances in healthcare, and rising healthcare costs have heightened the need for health and long-term care insurance. Aging populations require more extended financial and healthcare support, and insurance distribution channels must adapt to offer relevant products.
Traditional agents and brokers remain essential in delivering personalized services, particularly in educating clients about complex insurance products. However, digital channels cater to tech-savvy, urban consumers, ensuring broader market access. The combination of both traditional and digital distribution improves accessibility for diverse demographics.
Collaborations between insurers and external partners like retail chains and telecommunications companies further expand distribution channels, reaching a wider audience and meeting evolving consumer expectations for convenience, speed, and personalization.
Scope of the Report
- The report analyses the Insurance Distribution Market by Value (USD Billion).
- The report analyses the Insurance Distribution Market by Region (Americas, Europe, Asia Pacific, Middle East & Africa) and 10 Countries (United States, Canada, Germany, United Kingdom, France, Italy, China, Japan, India and South Korea).
- The report presents the analysis of Insurance Distribution Market for the historical period of 2020-2023, the estimated year 2024 and the forecast period of 2025-2030.
- The report analyses the Insurance Distribution Market By End User (Corporate and Individual)
- The report analyses the Insurance Distribution Market By Type (Life, P&C and Health).
- The report analyses the Insurance Distribution Market By Distribution Channel (Bancassurance, Broker and Agents, Third Party Administrator, Online Sales and Direct Sales)
- The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by products, by mode of operation & by end users.
- Also, the major opportunities, trends, drivers, and challenges of the industry has been analyzed in the report.
- The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include:
- Aon PLC
- Marsh & McLennan Companies Inc.
- Willis Towers Watson PLC
- Arthur J. Gallagher & Co.
- Allianz SE
- Zurich Insurance Group AG
- Brown & Brown Inc.
- Prudential Financial Inc.
- Metlife Inc.
- Munich Re Group
For more information about this report visit https://www.researchandmarkets.com/r/p2s2p9
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