Insurance Brokers & Agents Global Market Forecast To 2022

North America was the largest region in the global insurance brokers & agents market, accounting for 43% of the market in 2018. Western Europe was the second largest region accounting for 25% of the global insurance brokers & agents market. Eastern Europe was the smallest region in the global insurance brokers & agents market.

Bancassurance is gaining prominence within the insurance intermediation industry. This distribution channel is being used by banks to cross-sell its products and services and generate additional revenue. Bancassurance also benefits the insurance company by providing an exposure to a wider customer base via the bank’s distribution network of agents and branches. The adoption of more diversified and enhanced products offered by banks is expected to drive the bancassurance market at a CAGR of nearly 8% to 2019.

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