The Zacks Insurance – Brokerage industry comprises companies that primarily offer insurance and reinsurance products and services. Insurance brokers act on behalf of their clients and offer advice keeping in mind clients’ interests against brokerage fees. Some of these companies are also involved in providing risk management, third-party administration, and managed health care services.
Technavio analysts forecast the global insurance brokerage market to grow by $13.84 billion or at a CAGR of more than 4% during 2020-2024, according to their latest market research report.
Here are the industry’s three major themes:
- The operational results of the industry players are affected directly by clients’ level of business activity, which in turn, depends on the extent of economic activity in the industries and markets that they serve. The disruption caused by the COVID-19 pandemic rendered severe volatility to the stock market and resulted in recessionary fears across the globe. Like the second