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Insurance Agencies & Brokerages Industry Analysis

Identify industry changes, evaluate the market size, market outlook, trends, key players, and growth opportunities.

Contents Standard Report Premium Report
Industry Overview & Outlook . .
Market Size (industry trends) . .
Market Forecast (5-year projection)   .
Products/Services Breakdown   .
Revenue per State . .
Financial Metrics . .
Salary & Compensation Benchmarks . .
Key Companies   .
Industry News & Innovators   .
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2018 Market Analysis & Industry Outlook: Insurance Agencies & Brokerages


Overview of the U.S. Insurance Agencies & Brokerages Industry

This section provides answers to key questions about the industry:
  1. What is the total market size (industry revenue)?
  2. What is the industry outlook?
  3. Market Analysis: Is the market growing or declining, and how quickly?
  4. Are long-term forecasts positive or negative?
  5. What is the average company size in the industry?
  6. How many companies are in the industry?

Market Size & Industry Statistics

The total U.S. industry market size for Insurance Agencies & Brokerages: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders. In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.

Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.

market size 2018
Charts and graphs can be copied to Microsoft Word and Powerpoint presentations.

Statistics 2012        2013        2014        2015        2016        2017
Market Size
(Total Sales/Revenue)


Order at top of page
Total Firms
Total Employees
Average Revenue Per Firm
Average Employees Per Firm
Statistics Source: U.S. Census, AnythingResearch Market Analysis



Market Forecast[PREMIUM]

Market forecasts show the long term industry outlook and future growth trends. The following five-year demand forecast projects both short-term and long-term trends.

market forecast

Forecast / Industry Outlook 2017 2018 2019 2020 2021 2022
Market Forecast ($ millions)
Projected Industry Growth Rate (%)
Source: AnythingResearch Economic Analysis

Product & Services Breakdown

Research products and services in the Insurance Agencies & Brokerages industry generating sales. Note that products are broken into categories with different levels of classification.

Product DescriptionNumber of Companies Sales ($ millions) Percent of Total Sales

Industry Total

Brokering And Dealing Services For Equities

Financial Planning And Investment Management Services

Personal Financial Planning And Advice Services

Personal Investment Management Services

Insurance Brokerage And Agency Services - Commissions

Life And Accident

Health And Medical

Property And Casualty - Personal Lines

Property And Casualty - Commercial Lines

Annuity

Title

Other

Claims Adjustment Services

Consulting Services For Insurance

Insurance Support Services - Third Party Administration

Third Party Administration And Management Of Pension Funds/Plans - Fees

Third Party Administration And Management Of Health And/Or Welfare Funds/Plans - Fees

Third Party Administration And Management Of Workers Compensation Self-Insurance - Fees

Third Party Administration And Management Of Other Self-Insurance - Fees

Other Fees Associated With Third Party Administration

Title Search, Title Reconveyance, And Title Abstract Service Fees

Other Services



U.S. Geographic Distribution: Revenue Statistics by State

Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.

U.S. map of Insurance Agencies & Brokerages by state

Income Statement (Average Financial Metrics)

Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.

Industry AveragePercent of Sales
(Industry Benchmark)
Total Revenue

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Operating Revenue
Cost of Goods Sold
Gross Profit

Operating Expenses
Pension, profit sharing plans, stock, annuity
Repairs
Rent paid on business property
Charitable Contributions
Depletion
Domestic production activities deduction
Advertising
Compensation of officers
Salaries and wages
Employee benefit programs
Taxes and Licenses
Bad Debts
Depreciation
Amortization
Other Operating Expenses
Total Operating Expenses
Operating Income
Non-Operating Income
EBIT (Earnings Before Interest and Taxes)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit
 
Source: AnythingResearch Analysis of U.S. federal statistics




Financial Ratio Analysis

Financial ratio information can be used to benchmark how a Insurance Agencies & Brokerages company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.

Profitability & Valuation RatiosIndustry Average
Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Insurance Agencies & Brokerages industry is performing.
Profit Margin
Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues.
Return on Equity (ROE)
Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings).
Return on Assets (ROA)
Return on Assets (ROA) is net income relative to total assets. The market research on Insurance Agencies & Brokerages measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets.


Liquidity RatiosIndustry Average
Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability.
Current Ratio
Measures a firm's ability to pay its debts over the next 12 months.
Quick Ratio (Acid Test)
Calculates liquid assets relative to liabilities, excluding inventories.


Efficiency Ratios - Key Performance IndicatorsIndustry Average
Measure how quickly products and services sell, and effectively collections policies are implemented.
Receivables Turnover Ratio
If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections.
Average Collection Period
Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover
Inventory Turnover
A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
Fixed-Asset Turnover
Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue.



Compensation & Salary Surveys for Employees

Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.

TitlePercent of WorkforceBottom Quartile Average (Median) SalaryUpper Quartile
Management Occupations 6%

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Chief Executives0%
General and Operations Managers2%
Business and Financial Operations Occupations 16%
Business Operations Specialists 11%
Claims Adjusters, Appraisers, Examiners, and Investigators 7%
Claims Adjusters, Examiners, and Investigators 7%
Financial Specialists 5%
Computer and Mathematical Occupations 7%
Computer Occupations 6%
Sales and Related Occupations 30%
Sales Representatives, Services 28%
Insurance Sales Agents 27%
Insurance Sales Agents 27%
Office and Administrative Support Occupations 43%
Information and Record Clerks 16%
Customer Service Representatives 14%
Customer Service Representatives 14%
Secretaries and Administrative Assistants 6%
Secretaries and Administrative Assistants 6%
Secretaries and Administrative Assistants, Except Legal, Medical, and Executive 5%
Other Office and Administrative Support Workers 16%
Insurance Claims and Policy Processing Clerks 10%
Insurance Claims and Policy Processing Clerks 10%
Office Clerks, General 5%
Office Clerks, General 5%
Source: Bureau of Labor Statistics


Insurance Agencies & Brokerages Industry Market Share [PREMIUM]

Largest companies in the industry and related industries, with private company revenue estimates.

CompanyAddressRevenue Estimate









Innovation News

  • Careington International trademarks "CAREINGTON SOLUTIONS SIMPLIFIED" - Administration of discount health care programs enabling participants to obtain discounts on health care related goods and services through the use of a discount membership card - 01/05/2018
  • American Auto Guardian trademarks "AG///GAP AUTOGUARD GUARANTEED ASSET PROTECTION" - Extended warranty services - 01/05/2018
  • Wbi Investments trademarks "BULL | BEAR RADIO" - Downloadable podcasts in the field of economic developments as they relate to and can impact businesses; downloadable podcasts in the field of financial market news and commentary; downloadable podcasts in the field of financial and investment portfolio management; downloadable podcasts in the field of financial and investment risk management; downloadable podcasts in the field of mutual fund brokerage; downloadable podcasts in the field of mutual fund distribution; downloadable podcasts in the field of mutual fund investment; downloadable podcasts in the field of exchange traded fund distribution; downloadable podcasts in the field of exchange traded fund investment - 01/05/2018
  • Hippo Analytics raises $14 million in funding. - 12/07/2017
  • IOA Group raises $7 million in funding. - 11/29/2017
  • Benefit Solutions raises $5 million in funding. - 11/22/2017
  • Hartford Financial Services Group patents Supplemental Review Process Determination Utilizing Advanced Analytics Decision Making Model - 10/26/2017
  • Climate patents Systems And Methods For Control, Monitoring And Mapping Of Agricultural Applications - 10/26/2017
  • DMD Marketing patents User Identification And Tracking System - 03/09/2017




  • Top Innovators

    94386435744
    CompanyInnovation Score
    Hartford Financial Services Group943
    Mayo Foundation For Medical Education & Research864
    Liberty Mutual Insurance357
    Climate44

    Additional companies, details and innovation scoring in the full report.

    Latest Industry News

    • Opportunities abound for energy insurance brokers - See also: 4 ways insurance agents can master social media marketing "An agent or broker that is committed to understanding their client base will prevail," he says. He also believes that it's vital to engage with carriers that have deep subject matter ... (01/11/2018)
    • Higginbotham Enters 24th Texas Market with Independent Insurance Agents of Plainview - Higginbotham is headquartered in Fort Worth, Texas, and has become the largest insurance broker based in the state by uniting with agencies that add geographic scale and service capacity to its operation. The partnership with IIAP in Plainview, Texas ... (01/09/2018)
    • Group Health Insurance Broker Taylor Benefits Insurance Agency, Inc. Announces Nationwide Expansion - SAN JOSE, CA / ACCESSWIRE / January 3, 2018 / The founders of Taylor Benefits Insurance Agency, Inc., one of the country's leading group health insurance brokers and employee benefit plan specialists, are pleased to announce that they have just expanded ... (01/03/2018)
    • Special Report: How Insurance Brokers Reap Public Funds Without Disclosure - 55 of which were reported by one brokerage, Business and Governmental Insurance Agency of Woodbridge. In one case, Observer found that Fairview was paid $54,000 indirectly from Jersey City’s school board but later disclosed $0 to ELEC. It works like this. (12/06/2017)
    • Insurance agents, brokers now under same ambit - In the recently promulgated insurance ordinance, the government has brought corporate agents within the definition of ‘’insurance intermediary’’ in line with brokers thereby opening up the debate on whether banks can now act as brokers and seek ... (01/13/2015)
    • Is Health Insurance Broker The Next Hot Job In America? - Insurance broker Rudy Garcia formed Qandun Insurance Agency at the beginning of 2013 to cater specifically ... 2012 because "they're the ones who really need me," Garcia told Business Insider. Before Obamacare, a lot of businesses didn't feel the need ... (10/23/2013)
    • US Insurance Net Allows Agents & Brokers to Get Free Insurance Leads - With the launch of a local insurance agent directory and thousands of daily visitors, US Insurance Net gives local agents and brokers the ability to get their agency in front of consumers looking for quotes. Getting listed is absolutely free. As more ... (04/23/2013)


    Government Contracts

    In 2016, the federal government spent a total of $302,130,058 on Insurance Agencies & Brokerages. It has awarded 1,412 contracts to 141 companies, with an average value of $2,142,766 per company.   

    Top government vendors:

    CompanyFederal ContractsTotal Award Amount



    Growth Opportunities / Competitive Threats

    Companies in other industries may also sell similar products. Since there is an overlap in the customer base, there may be an opportunity for companies in Insurance Agencies & Brokerages to sell additional products/services offered by these adjacent industries. Alternatively, these industries may identify further products in this industry to target. Products most at risk are those with the highest profit margins and lowest barriers to entry.

    The following industries are competing channels for sales of similar products/services.

    Insurance Brokerage And Agency Products - Commissions
    Competing IndustrySales Relative to Insurance Agencies & BrokeragesOpportunity/Threat
    Insurance Agencies & Brokers Competing industry

    Sales from other industries of Insurance Brokerage And Agency Products - Commissions are less than those from Insurance Agencies & Brokerages. This may mean that other channels are a competitive risk of increasing their Insurance Brokerage And Agency Products - Commissions sales, taking market share from this industry.
    Insurance Brokerage And Agency Products - Commissions Product Sales Report



    Financial Planning And Investment Management Products
    Competing IndustrySales Relative to Insurance Agencies & BrokeragesOpportunity/Threat
    Portfolio Management
    Investment Banking & Securities Dealing
    Securities Brokerage
    Financial Planning & Investment Advice
    Commercial Banking

    Since sales from Insurance Agencies & Brokerages are a small fraction compared to other industries selling Financial Planning And Investment Management Products, companies in the Insurance Agencies & Brokerages industry have the opportunity to expand their product offering to take share from these adjacent industries.
    Financial Planning And Investment Management Products Product Sales Report



    Brokering And Dealing Products - Equities
    Brokering And Dealing Products - Equities Product Sales Report

    Personal Financial Planning And Advice Products
    Personal Financial Planning And Advice Products Product Sales Report

    Personal Investment Management Products
    Personal Investment Management Products Product Sales Report

    Financial Planning And Investment Mgt Serv For Bus & Govt
    Financial Planning And Investment Mgt Serv For Bus & Govt Product Sales Report