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Industry Data & Market Research
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2020 U.S. Industry Statistics & Market Research - Insurance


Market Size & Industry Statistics

The total U.S. industry market size for Insurance: 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.

Insurance market size 2020
Charts and graphs can be copied to Microsoft Word and Powerpoint presentations.

Statistics 2014        2015        2016        2017        2018        2019
Market Size
(Total Sales/Revenue)


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Total Firms
Total Employees
Average Revenue Per Firm
Average Employees Per Firm
Average Revenue Per Employee
Statistics Source: U.S. Census, AnythingResearch Analysis of Federal Data



Market Forecast

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





Forecast / Industry Outlook 2020 2021 2022 2023 2024 2025
Market Forecast ($ millions)
Projected Industry Growth Rate (%)
Source: AnythingResearch Economic Analysis

Product & Services Breakdown

Research products and services in the Insurance 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

Trading Debt Instruments On Own Account - Net Gains (Losses)

Trading Equities On Own Account - Net Gains (Losses)

Trading Other Securities And Commodity Contracts On Own Account - Net Gains (Losses)

Financial Planning And Investment Management Services

Underwriting Services For Life Insurance - Net Premiums Earned

Underwriting Services For Pensions And Annuities - Fees

Underwriting Services For Health And Accident Insurance - Net Premiums Earned

Underwriting Services For Surety Bonds And Related Products - Net Premiums Earned

Underwriting Services For Vehicle Property And Liability Insurance Policies - Net Premiums Earned

Underwriting Services For Property And Liability Insurance Policies, Except Vehicle - Net Premiums Earned

Underwriting Services For Product Liability Insurance Policies - Net Premiums Earned

Underwriting Services For Other General Liability Insurance Policies, Not Elsewhere Specified - Net Premiums Earned

Underwriting Services For Travelers' Insurance Policies - Net Premiums Earned

Underwriting Services For Title Insurance Policies - Net Premiums Earned

Underwriting Services For Other Direct Insurance Policies - Net Premiums Earned

Reinsurance Services For Life And Health Insurance And Annuities - Premiums Assumed

Reinsurance Services For Property And Casualty Insurance - Premiums Assumed

Reinsurance Services, Not Elsewhere Specified - Premiums Assumed

Insurance Brokerage And Agency Services - Commissions

Claims Adjustment Services

Consulting Services For Insurance

Insurance Support Services - 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 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 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
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
Net Income
 
Source: AnythingResearch Analysis of U.S. federal statistics




Financial Ratio Analysis

Financial ratio information can be used to benchmark how a Insurance 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 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 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 8%

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Chief Executives0%
General and Operations Managers2%
Business and Financial Operations Occupations 23%
Business Operations Specialists 16%
Claims Adjusters, Appraisers, Examiners, and Investigators 9%
Claims Adjusters, Examiners, and Investigators 9%
Financial Specialists 7%
Financial Analysts and Advisors 6%
Insurance Underwriters 7%
Computer and Mathematical Occupations 8%
Computer Occupations 7%
Healthcare Practitioners and Technical Occupations 7%
Health Diagnosing and Treating Practitioners 5%
Sales and Related Occupations 18%
Sales Representatives, Services 17%
Insurance Sales Agents 16%
Insurance Sales Agents 16%
Office and Administrative Support Occupations 38%
Information and Record Clerks 15%
Customer Service Representatives 13%
Customer Service Representatives 13%
Secretaries and Administrative Assistants 5%
Secretaries and Administrative Assistants 5%
Other Office and Administrative Support Workers 14%
Insurance Claims and Policy Processing Clerks 10%
Insurance Claims and Policy Processing Clerks 10%
Source: Bureau of Labor Statistics


Insurance Competitor Landscape & Key Companies [PREMIUM]

The most influential companies in the Insurance industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Insurance industry and adjacent sectors:

Market Leaders:
Direct Competitors

Companies with the largest market share, focused in this industry
Market leaders:
Diversified Competitors

Largest companies that have diversified operations in this and other industries
Innovators:
Direct Competitors

Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry.
Innovators:
Diversified Competitors

Innovators and Disruptors in adjacent industries that may also affect the Insurance industry.
Source:
IncFact




Executive Briefings

The property/casualty insurance market, our primary source of revenue, is highly competitive and, except for regulatory considerations, has very few barriers to entry. In many instances,  we have less financial or other resources than our competition and their affiliates. Generally, we compete on price, customer service, coverages offered, claims handling, financial stability, agent commission and support, customer recognition and geographic coverage. We compete with companies who use independent agents, captive agent networks, direct marketing channels or a combination thereof.The primary competition for our Commercial Auto business unit includes such carriers as American Millennium Insurance Company, Canal Insurance Company, Clear Blue Insurance Company, Commercial Alliance Insurance Company, Fairfax Financial, Hudson Insurance Company, National Casualty Company, National Liability  Hallmark Financial Services

Government Contracts

In 2020, the federal government spent a total of $56,800,501,341 on Insurance. It has awarded 882 contracts to 240 companies, with an average value of $236,668,756 per company.   

Most Recent Contracts Date Total Award Amount
MISCELLANEOUS FOREIGN AWARDEES
1800 F St Nw
Washington, DC
Sep 27, 2020$25,718
RESURGENS RISK MANAGEMENT, INC.
1170 Peachtree St Ne Ste 1200
Atlanta, GA
Sep 25, 2020$24,840
ADVANCED TECHNOLOGY LOGISTICS, INC.
37 Calumet Pkwy Bldg F Ste 103
Newnan, GA
Sep 25, 2020$13,892,255
SAHAM ASSURANCE VIE CI
3 Boulevard Roume Plateau
Abidjan,
Sep 25, 2020$11,662
DISABLED VETERANS HAWAII LLC
4817 Nw Fruit Valley Road Suite 100
Vancouver, WA
Sep 24, 2020$45,184
NARBER, LOUISE E
26351 455th Ln
Chariton, IA
Sep 24, 2020$5,000