Market Overview:
The global insurance brokerage software market is expected to grow at a CAGR of 10.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for cloud-based software solutions and the growing need for automation and digitization in the insurance industry. The global insurance brokerage software market is segmented on the basis of type, application, and region. On the basis of type, it is segmented into Software as a Service (SaaS), Platform as a Service (PaaS), Infrastructure as a Service (IaaS), and on-premise software. SaaS held the largest share of this market in 2017 owing to its advantages such as low cost, scalability, and easy deployment.
Product Definition:
Insurance Brokerage Software is a computer program that helps insurance brokers manage their business. It can keep track of client information, policies, and payments. Insurance brokerage software is important because it helps insurance brokers stay organized and efficient.
Software as a Service:
Software as a Service (SaaS) is a model in which the software is delivered to the customer through the internet and can be used directly without any further investment in hardware or installation of any additional software. In other words, it's an operating system plus applications running on top of it that are accessible via internet.
Platform as a Service:
Platform as a service (PaaS) is an approach where the application development environment is replaced by a cloud-based solution. The insurance brokerage software industry has been witnessing significant traction in recent years, with growing adoption of PaaS and cloud computing. This technology shift has enabled insurers to focus on their core business activities while allowing them to outsource non-core operations such as accounting services and database management.
Application Insights:
The large enterprises segment accounted for the largest share of over 70.0% in 2017. The growth can be attributed to the high adoption of these solutions among large organizations as they offer various functionalities such as risk management, portfolio management, and others that enhance their business operations. Furthermore, these solutions also provide analytics on a granular level to enable users make critical decisions based on facts rather than guesses by crunching data from different sources and generate insights about future prospects thus driving the demand further.
Medium-sized enterprises (smaller than 1000) are expected to grow at a significant rate owing to increasing penetration in emerging economies coupled with favorable government initiatives that support SMEs in banking and other financial services sectors across countries such as India, China Japan etc., which is likely to drive this segment further over the forecast period.
Regional Analysis:
The North American regional market dominated the global insurance brokering software industry in 2016. The growth of this region can be attributed to the presence of a large number of insurance agencies and brokers, which has boosted the adoption rate for these solutions. Furthermore, technological advancements such as cloud computing and big data have played a crucial role in increasing productivity among users across this region.
However, Asia Pacific is expected to emerge as the fastest-growing regional market over the forecast period owing to several factors such as economic development and an increase in disposable income levels among consumers coupled with corporate growth amongst enterprises that need risk management solutions. Moreover, regulatory reforms by governments aimed at reducing systemic risks are encouraging companies from all industries to engage in business activities within APAC countries thereby driving demand for insurance brokering services within this region over the forecast period.
Growth Factors:
- Increasing demand for insurance brokerage software from small and medium-sized businesses (SMBs)
- Rising need for automation in the insurance brokerage sector
- Proliferation of cloud-based solutions that offer flexibility and scalability
- Growing popularity of big data and analytics in the insurance industry
- Emergence of new players in the market
Scope Of The Report
Report Attributes
Report Details
Report Title
Insurance Brokerage Software Market Research Report
By Type
Software as a Service, Platform as a Service, Infrastructure as a Service, On-premise
By Application
Large Enterprises（1000+ Users）, Medium-Sized Enterprise（499-1000 Users）, Small Enterprises（1-499 Users）
By Companies
Nest Innovative Solutions, Bitrix, PhoneBurner, AgencyBloc, Applied Systems, NowCerts, Rocket Referrals, ACAExpress, Snappii Apps, HawkSoft, Indio Technologies, A1 Enterprise, Jenesis Software, AmbiCom, Applied Systems, EZLynx, North American Software Associates, FreeAgent Network, Ytel, Mandon Software, Insly, Sentry IMS, VRC Insurance Systems, QQ Solutions, Agency Matrix, TechCanary, Surefyre Systems
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
229
Number of Tables & Figures
161
Customization Available
Yes, the report can be customized as per your need.
Global Insurance Brokerage Software Market Report Segments:
The global Insurance Brokerage Software market is segmented on the basis of:
Types
Software as a Service, Platform as a Service, Infrastructure as a Service, On-premise
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Large Enterprises（1000+ Users）, Medium-Sized Enterprise（499-1000 Users）, Small Enterprises（1-499 Users）
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Nest Innovative Solutions
- Bitrix
- PhoneBurner
- AgencyBloc
- Applied Systems
- NowCerts
- Rocket Referrals
- ACAExpress
- Snappii Apps
- HawkSoft
- Indio Technologies
- A1 Enterprise
- Jenesis Software
- AmbiCom
- Applied Systems
- EZLynx
- North American Software Associates
- FreeAgent Network
- Ytel
- Mandon Software
- Insly
- Sentry IMS
- VRC Insurance Systems
- QQ Solutions
- Agency Matrix
- TechCanary
- Surefyre Systems
Highlights of The Insurance Brokerage Software Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Software as a Service
- Platform as a Service
- Infrastructure as a Service
- On-premise
- By Application:
- Large Enterprises（1000+ Users）
- Medium-Sized Enterprise（499-1000 Users）
- Small Enterprises（1-499 Users）
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Insurance Brokerage Software Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Insurance brokerage software is a computer program that helps agents and brokers sell insurance products. The software can include features such as quoting, tracking customer information, and managing policy files.
Some of the major companies in the insurance brokerage software market are Nest Innovative Solutions, Bitrix, PhoneBurner, AgencyBloc, Applied Systems, NowCerts, Rocket Referrals, ACAExpress, Snappii Apps, HawkSoft, Indio Technologies, A1 Enterprise, Jenesis Software, AmbiCom, Applied Systems, EZLynx, North American Software Associates, FreeAgent Network, Ytel, Mandon Software, Insly, Sentry IMS, VRC Insurance Systems, QQ Solutions, Agency Matrix, TechCanary, Surefyre Systems.
The insurance brokerage software market is expected to register a CAGR of 10.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Insurance Brokerage Software Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Insurance Brokerage Software Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Insurance Brokerage Software Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Insurance Brokerage Software Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Insurance Brokerage Software Market Size & Forecast, 2018-2028
4.5.1 Insurance Brokerage Software Market Size and Y-o-Y Growth
4.5.2 Insurance Brokerage Software Market Absolute $ Opportunity
Chapter 5 Global Insurance Brokerage Software Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Insurance Brokerage Software Market Size Forecast by Type
5.2.1 Software as a Service
5.2.2 Platform as a Service
5.2.3 Infrastructure as a Service
5.2.4 On-premise
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Insurance Brokerage Software Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Insurance Brokerage Software Market Size Forecast by Applications
6.2.1 Large Enterprises（1000+ Users）
6.2.2 Medium-Sized Enterprise（499-1000 Users）
6.2.3 Small Enterprises（1-499 Users）
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Insurance Brokerage Software Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Insurance Brokerage Software Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Insurance Brokerage Software Analysis and Forecast
9.1 Introduction
9.2 North America Insurance Brokerage Software Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Insurance Brokerage Software Market Size Forecast by Type
9.6.1 Software as a Service
9.6.2 Platform as a Service
9.6.3 Infrastructure as a Service
9.6.4 On-premise
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Insurance Brokerage Software Market Size Forecast by Applications
9.10.1 Large Enterprises（1000+ Users）
9.10.2 Medium-Sized Enterprise（499-1000 Users）
9.10.3 Small Enterprises（1-499 Users）
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Insurance Brokerage Software Analysis and Forecast
10.1 Introduction
10.2 Europe Insurance Brokerage Software Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Insurance Brokerage Software Market Size Forecast by Type
10.6.1 Software as a Service
10.6.2 Platform as a Service
10.6.3 Infrastructure as a Service
10.6.4 On-premise
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Insurance Brokerage Software Market Size Forecast by Applications
10.10.1 Large Enterprises（1000+ Users）
10.10.2 Medium-Sized Enterprise（499-1000 Users）
10.10.3 Small Enterprises（1-499 Users）
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Insurance Brokerage Software Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Insurance Brokerage Software Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Insurance Brokerage Software Market Size Forecast by Type
11.6.1 Software as a Service
11.6.2 Platform as a Service
11.6.3 Infrastructure as a Service
11.6.4 On-premise
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Insurance Brokerage Software Market Size Forecast by Applications
11.10.1 Large Enterprises（1000+ Users）
11.10.2 Medium-Sized Enterprise（499-1000 Users）
11.10.3 Small Enterprises（1-499 Users）
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Insurance Brokerage Software Analysis and Forecast
12.1 Introduction
12.2 Latin America Insurance Brokerage Software Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Insurance Brokerage Software Market Size Forecast by Type
12.6.1 Software as a Service
12.6.2 Platform as a Service
12.6.3 Infrastructure as a Service
12.6.4 On-premise
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Insurance Brokerage Software Market Size Forecast by Applications
12.10.1 Large Enterprises（1000+ Users）
12.10.2 Medium-Sized Enterprise（499-1000 Users）
12.10.3 Small Enterprises（1-499 Users）
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Insurance Brokerage Software Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Insurance Brokerage Software Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Insurance Brokerage Software Market Size Forecast by Type
13.6.1 Software as a Service
13.6.2 Platform as a Service
13.6.3 Infrastructure as a Service
13.6.4 On-premise
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Insurance Brokerage Software Market Size Forecast by Applications
13.10.1 Large Enterprises（1000+ Users）
13.10.2 Medium-Sized Enterprise（499-1000 Users）
13.10.3 Small Enterprises（1-499 Users）
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Insurance Brokerage Software Market: Competitive Dashboard
14.2 Global Insurance Brokerage Software Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Nest Innovative Solutions
14.3.2 Bitrix
14.3.3 PhoneBurner
14.3.4 AgencyBloc
14.3.5 Applied Systems
14.3.6 NowCerts
14.3.7 Rocket Referrals
14.3.8 ACAExpress
14.3.9 Snappii Apps
14.3.10 HawkSoft
14.3.11 Indio Technologies
14.3.12 A1 Enterprise
14.3.13 Jenesis Software
14.3.14 AmbiCom
14.3.15 Applied Systems
14.3.16 EZLynx
14.3.17 North American Software Associates
14.3.18 FreeAgent Network
14.3.19 Ytel
14.3.20 Mandon Software
14.3.21 Insly
14.3.22 Sentry IMS
14.3.23 VRC Insurance Systems
14.3.24 QQ Solutions
14.3.25 Agency Matrix
14.3.26 TechCanary
14.3.27 Surefyre Systems
