Insurance Agencies Global Market Report 2021: COVID 19 Impact And Recovery To 2030

The Business Research Company’s Insurance Agencies Global Market Report 2021: COVID 19 Impact and Recovery to 2030

LONDON, GREATER LONDON, UK, February 10, 2021 /EINPresswire.com/ -- New year, new updates! Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reports

Increased awareness about the benefits of insurance coverage is expected to drive the insurance agencies market. The pandemic has alerted the public and made them aware of the uncertainty of events, which led them towards opting for insurance to protect their and their families' lives. For instance, according to the Max Bupa survey on the difference of mindset of people before and after the COVID-19 onset, during pre-COVID times the percentage of buyers and planners for comprehensive plans was 32% and 41%, respectively. The demand for insurance plans has seen a significant increase over the last few months, with the percentage of buyers and people intending to buy rising to 55% and 60%. Insurance agencies help people in obtaining the best insurance policy as per their need and budget. Hence, a higher awareness rate among the public on the benefits of insurance coverage aids in the growth of the insurance agencies market.

The global insurance agencies market size is expected to grow from $109.91 billion in 2020 to $111.98 billion in 2021 at a compound annual growth rate (CAGR) of 1.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $135 billion in 2025 at a CAGR of 4.8%.

Here Is A List Of Similar Reports By The Business Research Company:
Insurance Brokers & Agents Global Market Report 2021: COVID-19 Impact and Recovery to 2030
https://www.thebusinessresearchcompany.com/report/insurance-brokers-and-agents-global-market-report-2020-30-covid-19-impact-and-recovery

Reinsurance Global Market Report 2021: COVID-19 Impact and Recovery to 2030
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Health And Medical Insurance Global Market Report 2021: COVID 19 Impact and Recovery to 2030
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Life Insurance Global Market Report 2021: COVID 19 Impact and Recovery to 2030
https://www.thebusinessresearchcompany.com/report/life-insurance-global-market-report

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The Business Research Company
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