Market Trends of United States Insurance Brokerage Industry
Increasing Merger & Acquisition Deals in Insurance Brokerage Market
Merger and acquisition activities in the insurance industry have increased in the past few years. The M&A activity has been profitable for the insurance broker and insurance companies as it helps them capture more market share. This is an attempt to help the brokerage company to safeguard its future enterprise value. The merger and acquisition in the industry has witnessed a dip in recent years as compared to the previous year but is expected to show a steady rise in the forecasted period.
Increasing Digitalization is Driving the Insurance Brokerage Market
Digitalization in insurance and other sectors is growing due to various factors, such as the growing adoption of AI and online platforms. The insurance industry is dependent on human agents, but due to the pandemic, the companies are unable to visit clients physically. Insurance companies have started digital platforms, which are changing the way customers interact and the way businesses operate. These factors are influencing the digital adoption by many insurance brokers and companies in the period. This adoption has made the revenue rise for insurance brokerage in the United States.
