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Insurance Agencies & Brokers 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   .
- 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 & Brokers

Overview: the U.S. Insurance Agencies & Brokers 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 & Brokers: 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

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 & Brokers 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




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

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 by state

Insurance Agencies & Brokers Industry Price Trends

Rise and fall in market prices are affectedd by supply, demand, and the cost of goods/services sold. Higher demand or COGS will put upward price pressure on prices. Higher competition among Insurance Agencies & Brokers companies will put a downward pressure on prices. The chart shows how prices are changing within the industry, month-to-month over the last three years.

example price index trendline

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
Rent paid on business property
Charitable Contributions
Domestic production activities deduction
Compensation of officers
Salaries and wages
Employee benefit programs
Taxes and Licenses
Bad Debts
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 & Brokers 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 & Brokers 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 & Brokers 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 5%

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Chief Executives0%
General and Operations Managers2%
Business and Financial Operations Occupations 8%
Sales and Related Occupations 40%
Sales Representatives, Services 38%
Insurance Sales Agents 37%
Insurance Sales Agents 37%
Office and Administrative Support Occupations 44%
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 & Brokers Industry Market Share [PREMIUM]

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

CompanyAddressRevenue Estimate

Innovation News

  • Parady Financial Group trademarks "MY NEXT 10 ARE MY BEST 10" - Financial services - 03/02/2018
  • Visitorscoverage trademarks "" - Insurance brokerage services - 03/02/2018
  • Sterling & Sterling trademarks "ARSCHOICE" - Insurance agency and brokerage services; insurance underwriting; insurance brokerage services; aviation insurance underwriting; aviation insurance brokerage services; aviation repair station insurance brokerage services - 02/24/2018
  • Cah Holdings raises $1 million in funding. - 01/29/2018
  • Hippo Analytics raises $14 million in funding. - 01/22/2018
  • Stride Health raises $23 million in funding. - 08/22/2017
  • J.C. Taylor Antique Automobile Agency patents Method And System For Validating Data Integrity - 01/05/2017
  • Fusionops patents Systems, Methods, And Apparatuses For Creating, Linking And Discovering Business Navigation Maps For Analyzing Data - 07/28/2016
  • International Planning Alliance patents Automated Method Of Generating A Decision Grid For Communicating Financial Information To Clients - 04/14/2016

  • Top Innovators

    CompanyInnovation Score
    Senior Market Sales48
    Ehealthinsurance Services9
    Willis North America

    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 ... (01/10/2018)
    • Knight Insurance Emerges to Be a Trustworthy Independent Insurance Agency in Weston and Coral Springs Florida - At Knight Insurance, the insurance agents and brokers undergo various training and session so that they can stay up-to-date regarding the different insurance service providers and their products. Knight Insurance offers the best and the most competitive ... (01/10/2018)
    • In first international deal, Acrisure plans to acquire U.K.-based insurance broker - CALEDONIA — Acrisure LLC would extend its business to Europe with the proposed purchase of a London-based insurance broker. Beach & Associates agreed ... that’s been the largest buyer of insurance agencies in North America. The deal, which includes ... (01/10/2018)
    • Reinsurance broker Beach & Associates to be acquired by Acrisure - Beach & Associates, the specialist insurance and reinsurance broker which often arranges trades with collateralized and ILS fund markets, is to be acquired by retail insurance agency network Acrisure LLC who will buyout existing shareholders including ... (01/10/2018)
    • Expectations from Insurance Sector - A breakdown of the figures revealed that agents and brokers owed N1.96 billion, sundry debtors, N15.29 billion and others N75.81 billion. The NIA, which is the umbrella body of insurance underwriters in the country was established in 1971 to promote and ... (01/09/2018)
    • Mike Keith Insurance is Keystone’s 11th Missouri partner - Keystone’s commitment to the independent broker channel will help perpetuate our firm’s success into the future.”About Mike Keith Insurance Inc. – The agency was originally established in 1950. Mike Keith joined in 1966, and in 1978 the agency ... (01/09/2018)
    • 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 ... (01/08/2018)
    • Ex-Broker Who Perpetrated RivCo Insurance Scam Sentenced - RIVERSIDE COUNTY, CA — A former insurance agent from Moreno Valley who stole thousands of ... securities fraud, acting as a securities broker without a license and a sentence-enhancing white collar crime allegation. In exchange for his admissions ... (01/07/2018)
    • Number of Licensed Insurance Agencies in Arkansas Grew 4% in 2017 - health insurance exchange agencies, and viatical brokers. Car rental agencies and self-storage facilities that sell insurance coverage are also licensed by AID, as are retail stores that sell insurance to cover portable electronic devices. Since the end of ... (01/05/2018)
    • Group Health Insurance Broker Taylor Benefits Insurance Agency, Inc. Announces Nationwide Expansion - Taylor Benefits Offers a Number of Group and Employee Benefit Packages Including Health and Dental Insurance and Much More SAN JOSE, CA / ACCESSWIRE / January 3, 2018 / The founders of Taylor Benefits Insurance Agency, Inc., one of the country's leading ... (01/03/2018)

    Government Contracts

    In 2016, the federal government spent a total of $22,068,760 on Insurance Agencies & Brokers. It has awarded 657 contracts to 56 companies, with an average value of $394,085 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 & Brokers 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 & BrokersOpportunity/Threat

    Sales from other industries of Insurance Brokerage And Agency Products - Commissions are less than those from Insurance Agencies & Brokers. 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 & BrokersOpportunity/Threat
    Portfolio Management
    Investment Banking & Securities Dealing
    Securities Brokerage
    Financial Planning & Investment Advice
    Commercial Banking

    Since sales from Insurance Agencies & Brokers are a small fraction compared to other industries selling Financial Planning And Investment Management Products, companies in the Insurance Agencies & Brokers 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

    Segments classified within this market research report

    This industry market research report includes companies whose primary business is any of the following:
    Brokerages, insurance, Brokers' offices, Life insurance agencies, Agencies, Insurance brokerages, Insurance agencies, etc.

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