Market Overview:
The global insurance brokers tools market is expected to grow from USD 1.02 Billion in 2018 to USD 2.06 Billion by 2030, at a CAGR of 9.5% during the forecast period. The cloud-based type is the most widely used type which takes up about 2/3 of the total sales in 2018 and is expected to grow at a CAGR of 10.1%. The small business area was the most widely used area which took up about 51% of the global total in 2018 and is expected to grow at a CAGR of 10%. North America accounted for the largest share of the global insurance brokers tools market in 2017, followed by Europe, Asia Pacific, Latin America, and Middle East & Africa.
Product Definition:
Insurance brokers tools are used to help insurance agents do their jobs more efficiently. They include software for tracking policies and clients, as well as calculators for estimating premiums. Insurance brokers use these tools to help them find the best policies for their clients and to price premiums accurately.
Cloud-Based:
Cloud-based software is a type of service that allows users to access data or functionality remotely using the internet. It provides shared computer resources over the internet. Cloud computing offers benefits such as increased efficiency, flexibility and cost-effectiveness which has resulted in high adoption among small and medium enterprises. The insurance brokers tools market is expected to witness significant growth over the forecast period owing to factors such as regulatory compliance, risk management, fraud detection & prevention capabilities offered by cloud-based solutions.
On-Premise:
On-premise is a term used for referring to the practice of running business applications and storing data on an organization's own servers rather than using a cloud service. The major advantage of on-premise software is that it allows companies to control access to information. However, this also leads to high costs which can be avoided by using Software as a Service (SaaS).
Application Insights:
The Small Business application segment is expected to witness the fastest growth over the forecast period. The growth can be attributed to factors such as increasing number of SMEs in developing countries and technological advancements that have made it easy for small businesses to use these tools. For instance, in June 2017, Allstate launched an online platform - SmartFolio for small business owners with simplified premium payments and policy documents. This has led insurers across different industries to offer various insurance broking services through digital channels which is further driving the market growth.
The large business application segment accounted for about 52% of total market revenue share in 2018 owing to factors such as complexity associated with multiple users and teams, volume-based requirements, regulatory compliance issues among others which require a more robust solution than medium or small businesses do.
Regional Analysis:
North America dominated the global market in 2018. The growth is attributed to the presence of a large number of insurance companies and strong regulatory framework for consumer protection. Moreover, technological advancements such as cloud-based solutions are also contributing towards market growth in this region. Asia Pacific is expected to be the fastest growing regional market over the forecast period owing to increasing penetration of internet users, rising smartphone adoption, and rapid development in IT infrastructure facilities especially in developing economies such as India & China.
The Latin American region has been witnessing steady economic growth since past few years due to improvement on macroeconomic indicators such as GDP Growth rate.
Growth Factors:
- Increasing demand for insurance products and services
- Growing awareness about the benefits of using insurance brokers
- Rising number of online users and their growing preference for buying insurance products online
- Proliferation of social media platforms and increasing use of digital marketing by insurers and brokers
- Emergence of new technologies such as big data, cloud computing, and mobile apps that are helping to improve the efficiency and effectiveness of the insurance brokerage industry
Scope Of The Report
Report Attributes
Report Details
Report Title
Insurance Brokers Tools Market Research Report
By Type
Cloud-Based, On-Premise, Cloud based is the most widely used type which takes up about 2/3 of the total sales in 2018., Insurance Brokers Tool
By Application
Small Business (1-10 users), Medium-sized Business (11-50 users), Large Business (50+ users), Small business was the most widely used area which took up about 51% of the global total in 2018.
By Companies
Vertafore, Applied Systems, EZLynx, ACS, ITC, HawkSoft, Sapiens, Zywave, Xdimensional Tech, Agency Matrix, Jenesis Software, AgencyBloc, AllClients, Impowersoft, NextAgency, Buckhill, InsuredHQ, Zhilian Software, Insurance Brokers Tool
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
241
Number of Tables & Figures
169
Customization Available
Yes, the report can be customized as per your need.
Global Insurance Brokers Tools Market Report Segments:
The global Insurance Brokers Tools market is segmented on the basis of:
Types
Cloud-Based, On-Premise, Cloud based is the most widely used type which takes up about 2/3 of the total sales in 2018., Insurance Brokers Tool
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
Small Business (1-10 users), Medium-sized Business (11-50 users), Large Business (50+ users), Small business was the most widely used area which took up about 51% of the global total in 2018.
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:
- Vertafore
- Applied Systems
- EZLynx
- ACS
- ITC
- HawkSoft
- Sapiens
- Zywave
- Xdimensional Tech
- Agency Matrix
- Jenesis Software
- AgencyBloc
- AllClients
- Impowersoft
- NextAgency
- Buckhill
- InsuredHQ
- Zhilian Software
- Insurance Brokers Tool
Highlights of The Insurance Brokers Tools 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:
- Cloud-Based
- On-Premise
- Cloud based is the most widely used type which takes up about 2/3 of the total sales in 2018.
- Insurance Brokers Tool
- By Application:
- Small Business (1-10 users)
- Medium-sized Business (11-50 users)
- Large Business (50+ users)
- Small business was the most widely used area which took up about 51% of the global total in 2018.
- 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 Brokers Tools 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 brokers tools are a suite of software that allow insurance agents to manage their business more efficiently. The tools can include everything from accounting and billing software to customer relationship management (CRM) systems.
Some of the key players operating in the insurance brokers tools market are Vertafore, Applied Systems, EZLynx, ACS, ITC, HawkSoft, Sapiens, Zywave, Xdimensional Tech, Agency Matrix, Jenesis Software, AgencyBloc, AllClients, Impowersoft, NextAgency, Buckhill, InsuredHQ, Zhilian Software, Insurance Brokers Tool.
The insurance brokers tools market is expected to grow at a compound annual growth rate of 9.5%.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Insurance Brokers Tools Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Insurance Brokers Tools Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Insurance Brokers Tools Market - Supply Chain
4.5. Global Insurance Brokers Tools Market Forecast
4.5.1. Insurance Brokers Tools Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Insurance Brokers Tools Market Size (000 Units) and Y-o-Y Growth
4.5.3. Insurance Brokers Tools Market Absolute $ Opportunity
5. Global Insurance Brokers Tools Market Analysis and Forecast by Type
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Type
5.2.2. Y-o-Y Growth Projections by Type
5.3. Insurance Brokers Tools Market Size and Volume Forecast by Type
5.3.1. Cloud-Based
5.3.2. On-Premise
5.3.3. Cloud based is the most widely used type which takes up about 2/3 of the total sales in 2018.
5.3.4. Insurance Brokers Tool
5.4. Absolute $ Opportunity Assessment by Type
5.5. Market Attractiveness/Growth Potential Analysis by Type
6. Global Insurance Brokers Tools Market Analysis and Forecast by Application
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Application
6.2.2. Y-o-Y Growth Projections by Application
6.3. Insurance Brokers Tools Market Size and Volume Forecast by Application
6.3.1. Small Business (1-10 users)
6.3.2. Medium-sized Business (11-50 users)
6.3.3. Large Business (50+ users)
6.3.4. Small business was the most widely used area which took up about 51% of the global total in 2018.
6.4. Absolute $ Opportunity Assessment by Application
6.5. Market Attractiveness/Growth Potential Analysis by Application
7. Global Insurance Brokers Tools Market Analysis and Forecast by Sales Channel
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Sales Channel
7.2.2. Y-o-Y Growth Projections by Sales Channel
7.3. Insurance Brokers Tools Market Size and Volume Forecast by Sales Channel
7.3.1. Manufacturer/Distributor/Service Provider
7.3.2. Aftermarket
7.4. Absolute $ Opportunity Assessment by Sales Channel
7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel
8. Global Insurance Brokers Tools Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Insurance Brokers Tools Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Insurance Brokers Tools Demand Share Forecast, 2019-2026
9. North America Insurance Brokers Tools Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Insurance Brokers Tools Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Insurance Brokers Tools Market Size and Volume Forecast by Application
9.4.1. Small Business (1-10 users)
9.4.2. Medium-sized Business (11-50 users)
9.4.3. Large Business (50+ users)
9.4.4. Small business was the most widely used area which took up about 51% of the global total in 2018.
9.5. Basis Point Share (BPS) Analysis by Application
9.6. Y-o-Y Growth Projections by Application
9.7. North America Insurance Brokers Tools Market Size and Volume Forecast by Type
9.7.1. Cloud-Based
9.7.2. On-Premise
9.7.3. Cloud based is the most widely used type which takes up about 2/3 of the total sales in 2018.
9.7.4. Insurance Brokers Tool
9.8. Basis Point Share (BPS) Analysis by Type
9.9. Y-o-Y Growth Projections by Type
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.10.4. By Sales Channel
9.11. North America Insurance Brokers Tools Demand Share Forecast, 2019-2026
10. Latin America Insurance Brokers Tools Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Insurance Brokers Tools Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Insurance Brokers Tools Market Size and Volume Forecast by Application
10.4.1. Small Business (1-10 users)
10.4.2. Medium-sized Business (11-50 users)
10.4.3. Large Business (50+ users)
10.4.4. Small business was the most widely used area which took up about 51% of the global total in 2018.
10.5. Basis Point Share (BPS) Analysis by Application
10.6. Y-o-Y Growth Projections by Application
10.7. Latin America Insurance Brokers Tools Market Size and Volume Forecast by Type
10.7.1. Cloud-Based
10.7.2. On-Premise
10.7.3. Cloud based is the most widely used type which takes up about 2/3 of the total sales in 2018.
10.7.4. Insurance Brokers Tool
10.8. Basis Point Share (BPS) Analysis by Type
10.9. Y-o-Y Growth Projections by Type
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.10.4. By Sales Channel
10.11. Latin America Insurance Brokers Tools Demand Share Forecast, 2019-2026
11. Europe Insurance Brokers Tools Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Insurance Brokers Tools Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Insurance Brokers Tools Market Size and Volume Forecast by Application
11.4.1. Small Business (1-10 users)
11.4.2. Medium-sized Business (11-50 users)
11.4.3. Large Business (50+ users)
11.4.4. Small business was the most widely used area which took up about 51% of the global total in 2018.
11.5. Basis Point Share (BPS) Analysis by Application
11.6. Y-o-Y Growth Projections by Application
11.7. Europe Insurance Brokers Tools Market Sie and Volume Forecast by Type
11.7.1. Cloud-Based
11.7.2. On-Premise
11.7.3. Cloud based is the most widely used type which takes up about 2/3 of the total sales in 2018.
11.7.4. Insurance Brokers Tool
11.8. Basis Point Share (BPS) Analysis by Type
11.9. Y-o-Y Growth Projections by Type
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.10.4. By Sales Channel
11.11. Europe Insurance Brokers Tools Demand Share, 2019-2026
12. Asia Pacific Insurance Brokers Tools Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Insurance Brokers Tools Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Insurance Brokers Tools Market Size and Volume Forecast by Application
12.4.1. Small Business (1-10 users)
12.4.2. Medium-sized Business (11-50 users)
12.4.3. Large Business (50+ users)
12.4.4. Small business was the most widely used area which took up about 51% of the global total in 2018.
12.5. Basis Point Share (BPS) Analysis by Application
12.6. Y-o-Y Growth Projections by Application
12.7. Asia Pacific Insurance Brokers Tools Market Size and Volume Forecast by Type
12.7.1. Cloud-Based
12.7.2. On-Premise
12.7.3. Cloud based is the most widely used type which takes up about 2/3 of the total sales in 2018.
12.7.4. Insurance Brokers Tool
12.8. Basis Point Share (BPS) Analysis by Type
12.9. Y-o-Y Growth Projections by Type
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.10.4. By Sales Channel
12.11. Asia Pacific Insurance Brokers Tools Demand Share, 2019-2026
13. Middle East & Africa Insurance Brokers Tools Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Asia Pacific Average Pricing Analysis
13.2. Middle East & Africa Insurance Brokers Tools Market Size and Volume 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. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Insurance Brokers Tools Market Size and Volume Forecast by Application
13.4.1. Small Business (1-10 users)
13.4.2. Medium-sized Business (11-50 users)
13.4.3. Large Business (50+ users)
13.4.4. Small business was the most widely used area which took up about 51% of the global total in 2018.
13.5. Basis Point Share (BPS) Analysis by Application
13.6. Y-o-Y Growth Projections by Application
13.7. Middle East & Africa Insurance Brokers Tools Market Size and Volume Forecast by Type
13.7.1. Cloud-Based
13.7.2. On-Premise
13.7.3. Cloud based is the most widely used type which takes up about 2/3 of the total sales in 2018.
13.7.4. Insurance Brokers Tool
13.8. Basis Point Share (BPS) Analysis by Type
13.9. Y-o-Y Growth Projections by Type
13.10. Market Attractiveness/Growth Potential Analysis
13.10.1. By Country
13.10.2. By Product Type
13.10.3. By Application
13.10.4. By Sales Channel
13.11. Middle East & Africa Insurance Brokers Tools Demand Share, 2019-2026
14. Competition Landscape
14.1. Global Insurance Brokers Tools Market: Market Share Analysis
14.2. Insurance Brokers Tools Distributors and Customers
14.3. Insurance Brokers Tools Market: Competitive Dashboard
14.4. Company Profiles (Details Overview, Financials, Developments, Strategy)
14.4.1. Vertafore
14.4.1.1. Overview
14.4.1.2. Financials
14.4.1.3. Developments
14.4.1.4. Strategic Outlook
14.4.2. Applied Systems
14.4.2.1. Overview
14.4.2.2. Financials
14.4.2.3. Developments
14.4.2.4. Strategic Outlook
14.4.3. EZLynx
14.4.3.1. Overview
14.4.3.2. Financials
14.4.3.3. Developments
14.4.3.4. Strategic Outlook
14.4.4. ACS
14.4.4.1. Overview
14.4.4.2. Financials
14.4.4.3. Developments
14.4.4.4. Strategic Outlook
14.4.5. ITC
14.4.5.1. Overview
14.4.5.2. Financials
14.4.5.3. Developments
14.4.5.4. Strategic Outlook
14.4.6. HawkSoft
14.4.6.1. Overview
14.4.6.2. Financials
14.4.6.3. Developments
14.4.6.4. Strategic Outlook
14.4.7. Sapiens
14.4.7.1. Overview
14.4.7.2. Financials
14.4.7.3. Developments
14.4.7.4. Strategic Outlook
14.4.8. Zywave
14.4.8.1. Overview
14.4.8.2. Financials
14.4.8.3. Developments
14.4.8.4. Strategic Outlook
14.4.9. Xdimensional Tech
14.4.9.1. Overview
14.4.9.2. Financials
14.4.9.3. Developments
14.4.9.4. Strategic Outlook
14.4.10. Agency Matrix
14.4.10.1. Overview
14.4.10.2. Financials
14.4.10.3. Developments
14.4.10.4. Strategic Outlook
14.4.11. Jenesis Software
14.4.11.1. Overview
14.4.11.2. Financials
14.4.11.3. Developments
14.4.11.4. Strategic Outlook
14.4.12. AgencyBloc
14.4.12.1. Overview
14.4.12.2. Financials
14.4.12.3. Developments
14.4.12.4. Strategic Outlook
14.4.13. AllClients
14.4.13.1. Overview
14.4.13.2. Financials
14.4.13.3. Developments
14.4.13.4. Strategic Outlook
14.4.14. Impowersoft
14.4.14.1. Overview
14.4.14.2. Financials
14.4.14.3. Developments
14.4.14.4. Strategic Outlook
14.4.15. NextAgency
14.4.15.1. Overview
14.4.15.2. Financials
14.4.15.3. Developments
14.4.15.4. Strategic Outlook
14.4.16. Buckhill
14.4.16.1. Overview
14.4.16.2. Financials
14.4.16.3. Developments
14.4.16.4. Strategic Outlook
14.4.17. InsuredHQ
14.4.17.1. Overview
14.4.17.2. Financials
14.4.17.3. Developments
14.4.17.4. Strategic Outlook
14.4.18. Zhilian Software
14.4.18.1. Overview
14.4.18.2. Financials
14.4.18.3. Developments
14.4.18.4. Strategic Outlook
14.4.19. Insurance Brokers Tool
14.4.19.1. Overview
14.4.19.2. Financials
14.4.19.3. Developments
14.4.19.4. Strategic Outlook
14.4.20. COMPANY 20
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