What is Health Insurance Broker Market?
Health insurance is a type of insurance coverage that covers medical and surgical expenses of an individual’s treatment. The health insurance broker offers a comparative analysis of various health insurance policies to the customer so the latter can opt for the best policy. They are responsible to help the customer choose an insurance policy most suitable to the latter's financial requirements. It is not attached to any single company and sells insurance policies for many companies. It has a wide knowledge base of all policies.
Highlights from Health Insurance Broker Market Study
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Marsh & McLennan Companies, Inc. (United States), Aon PLC (United Kingdom), Brown & Brown Inc. (United States), Willis Towers Watson PLC (United Kingdom) and Arthur J Gallagher & Co. (United States) |
Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Health Insurance Broker market throughout the forecasted period.
Marsh & McLennan Companies, Inc. (United States), Aon PLC (United Kingdom), Brown & Brown Inc. (United States), Willis Towers Watson PLC (United Kingdom) and Arthur J Gallagher & Co. (United States) are some of the key players profiled in the study. Health Insurance Broker Market Segmentation:
Scope | Sub-Segments |
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End-users | Corporate,Construction and Engineering,Energy,Medical,Fertilizers & Chemicals,Marine,IT and ITES,BFSI,Others |
Insured Type | Adults,Senior citizens,Minors |
Broker Type | Retail,Commercial |
Health Insurance Plans | PPO Health Insurance Plans,HMO Health Insurance Plans,HSA-Qualified Health Insurance Plans,Indemnity Health Insurance Plans |
On the basis of geography, the market of Health Insurance Broker has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rising Awareness among the People about Health Insurance
Market Growth Drivers:
Rising Promotional Activities by the Insurance Providers, Increasing Adoption of Health Insurance and Growing Cost of the Health Care Facilities
Challenges:
Privacy and Security Concerns
Restraints:
Lack of Availability of Experienced Health Insurance Brokers and Difficulties in the Claim Processes of the Health Insurance
Opportunities:
Growth in the Health Insurance Sector, Rising Online Customers Worldwide and Rising Prevalence of Diseases such as Cancers, Diabetes and others
Key Target Audience
Health Insurance Providers, Research Professionals, Research Companies and End-users
Market Leaders & Development Strategies