GITNUXREPORT 2025

Insurance Brokerage Industry Statistics

Insurance brokerage industry capitalizes on digital growth, focusing on innovation and customer retention.

Jannik Linder

Co-Founder of Gitnux, specialized in content and tech since 2016.

First published: April 29, 2025

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Rigorous fact-checking • Reputable sources • Regular updatesLearn more

Statistic 1

Digital channels influence over 70% of insurance buyer decisions

Statistic 2

The average customer retention rate for insurance brokers is around 80%

Statistic 3

The average age of insurance brokers is 50 years old, potentially impacting succession planning

Statistic 4

Insurtech partnerships with brokerages increased by 35% in 2022

Statistic 5

Customer satisfaction scores for insurance brokers are averaging around 4.2 out of 5

Statistic 6

The average cost per lead for insurance brokers using digital advertising is approximately $150

Statistic 7

Cyber insurance premiums for brokers increased by 60% in 2023 due to rising cyber threats

Statistic 8

Autonomous and driver-assist vehicle coverage is a growing segment in auto insurance broker policies, with a 15% increase in coverage in 2022

Statistic 9

The average profit margin for insurance brokerages is approximately 10%

Statistic 10

The annual growth rate of the insurance brokerage industry was approximately 3.5% from 2018 to 2022

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The proportion of insurance brokers offering lifestyle and ancillary services increased to 25% in 2023

Statistic 12

The average time to close an insurance deal via digital channels is approximately 15 days, down from 30 days in 2020

Statistic 13

The Insurance Brokerage Industry's digital transformation is expected to add approximately 2% to annual industry growth through 2025

Statistic 14

The number of insurance brokers specializing in cyber insurance grew by 50% in 2022, indicating rising cyber threat awareness

Statistic 15

Fifty percent of insurance brokerage firms plan to adopt more sustainable and green insurance products in the next two years

Statistic 16

Brokerage firms account for about 77% of auto insurance premiums in the U.S.

Statistic 17

The median commission rate for insurance brokers is approximately 10-15%

Statistic 18

Millennials are responsible for 45% of new insurance policy purchases via brokers

Statistic 19

The penetration rate of online insurance brokerage platforms reached 65% in North America by 2023

Statistic 20

The top three insurance brokerage firms hold over 45% market share in the U.S.

Statistic 21

The U.S. senior population (65+) held approximately 77% of all insurance policies in 2022

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Approximately 30% of insurtech startups focus specifically on brokerage solutions

Statistic 23

Small businesses account for roughly 42% of commercial insurance policies sold through brokers

Statistic 24

Only about 10% of insurance policies are sold exclusively online without broker involvement

Statistic 25

The share of independent insurance brokers in the U.S. market is around 65%

Statistic 26

Women represent about 35% of licensed insurance brokers in the U.S., with a growing number entering leadership roles

Statistic 27

The average renewal rate for insurance policies sold via brokers is around 78%

Statistic 28

In 2022, 85% of insurance brokers reported increased competition due to insurtechs

Statistic 29

The share of renewable energy projects insured through broker networks grew by 22% in 2023, reflecting industry diversification

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Approximately 28% of all insurance policies are now sold through broker agents, up from 20% five years ago

Statistic 31

The market share for captive insurance brokers is around 35%, with independent brokers holding the remaining 65%

Statistic 32

The average renewal rate for commercial insurance policies sold through brokers is approximately 76%

Statistic 33

The global insurance brokerage market size was valued at approximately $220 billion in 2022

Statistic 34

The U.S. insurance brokerage industry generated over $130 billion in revenue in 2022

Statistic 35

About 60% of insurance brokerage revenue comes from commercial insurance policies

Statistic 36

The global broker network expanded its reach by 20% year-over-year in 2022

Statistic 37

The average commission rate for health insurance brokers in the US is about 8-12%

Statistic 38

The global insurtech investment reached over $10 billion in 2022, a significant portion of which supports brokerage modernization

Statistic 39

The average customer lifetime value for an insurance broker client is estimated at $2,000, depending on policy types

Statistic 40

The top 10 insurance brokerage firms reported combined revenues exceeding $7 billion in 2022

Statistic 41

Income from cross-selling additional policies accounts for about 20% of brokerage revenue

Statistic 42

Approximately 50% of insurance brokerages plan to expand into underserved markets in 2024

Statistic 43

The average insurance premium for small business policies bought through brokerages was approximately $1,200 in 2023

Statistic 44

The median age of clients purchasing via brokers is around 45 years, highlighting a mature customer base

Statistic 45

The use of data-driven pricing models by brokers increased by 30% in the past two years, enabling more personalized policy offers

Statistic 46

The insurance broker industry contributed over $10 billion annually in commissions to the U.S. economy

Statistic 47

Broker-mediated group policies for large corporations increased by 18% in 2022, reflecting growing employer engagement

Statistic 48

The total number of insurance brokers involved in renewable energy projects is estimated to grow by 25% annually

Statistic 49

The number of licensed insurance brokers in the U.S. exceeded 300,000 in 2022

Statistic 50

The total number of new insurance broker licenses issued in North America increased by 12% in 2022

Statistic 51

Claims handling efficiency improved by 25% with the adoption of digital tools in brokerages

Statistic 52

The adoption rate of AI chatbots in insurance brokerages reached 50% in 2023

Statistic 53

40% of insurance brokerage transactions are now initiated online

Statistic 54

The use of customer data analytics in brokerage decisions increased by 45% from 2021 to 2023

Statistic 55

55% of insurance brokers plan to increase investment in digital marketing tools in 2024

Statistic 56

The number of claims processed per broker increased by 12% in 2023 due to automation

Statistic 57

The use of virtual and augmented reality tools in insurance education for brokers increased by 40% in 2023

Statistic 58

Brokers utilizing CRM systems see a 25% increase in sales conversion rates

Statistic 59

The insurance brokerage industry has seen a 10% annual increase in cybersecurity investments since 2019, to counteract increasing cyber threats

Statistic 60

over 80% of insurance brokers who adopt digital technology report higher client engagement

Statistic 61

In 2023, about 65% of brokers reported increased investments in fraud detection tools, aiming to reduce claims fraud

Statistic 62

The adoption of blockchain technology in insurance broker transactions increased by 15% in 2023, enhancing transparency and security

Statistic 63

Over 50% of insurance brokers utilize automation tools for routine tasks, leading to a 20% reduction in operating costs

Statistic 64

Insurance brokers who provide personalized online portals see a 35% higher customer retention rate

Statistic 65

The annual investment in insurtech by brokerage firms exceeded $1.2 billion in 2022, highlighting focus on innovation

Statistic 66

The use of predictive analytics by insurance brokers increased by 40% from 2021 to 2023, enabling better risk assessment

Statistic 67

Over 70% of insurance brokers participated in some form of online training or certifications in 2023, indicating increased emphasis on professional development

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Sources

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Key Highlights

The global insurance brokerage market size was valued at approximately $220 billion in 2022
The U.S. insurance brokerage industry generated over $130 billion in revenue in 2022
The number of licensed insurance brokers in the U.S. exceeded 300,000 in 2022
Brokerage firms account for about 77% of auto insurance premiums in the U.S.
The median commission rate for insurance brokers is approximately 10-15%
Digital channels influence over 70% of insurance buyer decisions
About 60% of insurance brokerage revenue comes from commercial insurance policies
The average customer retention rate for insurance brokers is around 80%
Millennials are responsible for 45% of new insurance policy purchases via brokers
The average age of insurance brokers is 50 years old, potentially impacting succession planning
The penetration rate of online insurance brokerage platforms reached 65% in North America by 2023
Insurtech partnerships with brokerages increased by 35% in 2022
Claims handling efficiency improved by 25% with the adoption of digital tools in brokerages

The insurance brokerage industry, a $220 billion global powerhouse powered by over 300,000 U.S. brokers, is undergoing a digital revolution that is reshaping how policies are sold, personalized, and protected against emerging cyber threats.

Industry Trends and Participation

Digital channels influence over 70% of insurance buyer decisions
The average customer retention rate for insurance brokers is around 80%
The average age of insurance brokers is 50 years old, potentially impacting succession planning
Insurtech partnerships with brokerages increased by 35% in 2022
Customer satisfaction scores for insurance brokers are averaging around 4.2 out of 5
The average cost per lead for insurance brokers using digital advertising is approximately $150
Cyber insurance premiums for brokers increased by 60% in 2023 due to rising cyber threats
Autonomous and driver-assist vehicle coverage is a growing segment in auto insurance broker policies, with a 15% increase in coverage in 2022
The average profit margin for insurance brokerages is approximately 10%
The annual growth rate of the insurance brokerage industry was approximately 3.5% from 2018 to 2022
The proportion of insurance brokers offering lifestyle and ancillary services increased to 25% in 2023
The average time to close an insurance deal via digital channels is approximately 15 days, down from 30 days in 2020
The Insurance Brokerage Industry's digital transformation is expected to add approximately 2% to annual industry growth through 2025
The number of insurance brokers specializing in cyber insurance grew by 50% in 2022, indicating rising cyber threat awareness
Fifty percent of insurance brokerage firms plan to adopt more sustainable and green insurance products in the next two years

Industry Trends and Participation Interpretation

As digital channels now sway over 70% of buyer decisions and cyber insurance premiums soar by 60%, the insurance brokerage industry, with its aging leadership and steady 3.5% growth, finds itself at a pivotal crossroads where embracing insurtech, sustainability, and faster digital deal-closing are essential to securing future profitability and relevance.

Market Share and Distribution

Brokerage firms account for about 77% of auto insurance premiums in the U.S.
The median commission rate for insurance brokers is approximately 10-15%
Millennials are responsible for 45% of new insurance policy purchases via brokers
The penetration rate of online insurance brokerage platforms reached 65% in North America by 2023
The top three insurance brokerage firms hold over 45% market share in the U.S.
The U.S. senior population (65+) held approximately 77% of all insurance policies in 2022
Approximately 30% of insurtech startups focus specifically on brokerage solutions
Small businesses account for roughly 42% of commercial insurance policies sold through brokers
Only about 10% of insurance policies are sold exclusively online without broker involvement
The share of independent insurance brokers in the U.S. market is around 65%
Women represent about 35% of licensed insurance brokers in the U.S., with a growing number entering leadership roles
The average renewal rate for insurance policies sold via brokers is around 78%
In 2022, 85% of insurance brokers reported increased competition due to insurtechs
The share of renewable energy projects insured through broker networks grew by 22% in 2023, reflecting industry diversification
Approximately 28% of all insurance policies are now sold through broker agents, up from 20% five years ago
The market share for captive insurance brokers is around 35%, with independent brokers holding the remaining 65%
The average renewal rate for commercial insurance policies sold through brokers is approximately 76%

Market Share and Distribution Interpretation

Despite brokers orchestrating nearly three-quarters of U.S. auto insurance premiums and maintaining a steadfast 65% independent market share, they confront a tech-powered shake-up with 85% reporting rising competition from insurtech startups—indicating that in the dynamic dance of insurance, even the oldest waltz is feeling a modern remix.

Market Size and Revenue

The global insurance brokerage market size was valued at approximately $220 billion in 2022
The U.S. insurance brokerage industry generated over $130 billion in revenue in 2022
About 60% of insurance brokerage revenue comes from commercial insurance policies
The global broker network expanded its reach by 20% year-over-year in 2022
The average commission rate for health insurance brokers in the US is about 8-12%
The global insurtech investment reached over $10 billion in 2022, a significant portion of which supports brokerage modernization
The average customer lifetime value for an insurance broker client is estimated at $2,000, depending on policy types
The top 10 insurance brokerage firms reported combined revenues exceeding $7 billion in 2022
Income from cross-selling additional policies accounts for about 20% of brokerage revenue
Approximately 50% of insurance brokerages plan to expand into underserved markets in 2024
The average insurance premium for small business policies bought through brokerages was approximately $1,200 in 2023
The median age of clients purchasing via brokers is around 45 years, highlighting a mature customer base
The use of data-driven pricing models by brokers increased by 30% in the past two years, enabling more personalized policy offers
The insurance broker industry contributed over $10 billion annually in commissions to the U.S. economy
Broker-mediated group policies for large corporations increased by 18% in 2022, reflecting growing employer engagement
The total number of insurance brokers involved in renewable energy projects is estimated to grow by 25% annually

Market Size and Revenue Interpretation

With a $220 billion global footprint bolstered by a 20% network expansion and over $10 billion in insurtech investments, the insurance brokerage industry is both proving its enduring relevance—especially in mature markets averaging $2,000 per client—and boldly venturing into underserved sectors, all while increasingly leveraging data and cross-selling to keep its $130 billion U.S. revenue from aging clients around 45 years young.

Regulatory and Licensing Data

The number of licensed insurance brokers in the U.S. exceeded 300,000 in 2022
The total number of new insurance broker licenses issued in North America increased by 12% in 2022

Regulatory and Licensing Data Interpretation

With over 300,000 licensed brokers and a 12% surge in new licenses across North America in 2022, the insurance brokerage industry is clearly expanding, making it more vital than ever for consumers to navigate this crowded marketplace with insight rather than intuition.

Technology Adoption and Innovation

Claims handling efficiency improved by 25% with the adoption of digital tools in brokerages
The adoption rate of AI chatbots in insurance brokerages reached 50% in 2023
40% of insurance brokerage transactions are now initiated online
The use of customer data analytics in brokerage decisions increased by 45% from 2021 to 2023
55% of insurance brokers plan to increase investment in digital marketing tools in 2024
The number of claims processed per broker increased by 12% in 2023 due to automation
The use of virtual and augmented reality tools in insurance education for brokers increased by 40% in 2023
Brokers utilizing CRM systems see a 25% increase in sales conversion rates
The insurance brokerage industry has seen a 10% annual increase in cybersecurity investments since 2019, to counteract increasing cyber threats
over 80% of insurance brokers who adopt digital technology report higher client engagement
In 2023, about 65% of brokers reported increased investments in fraud detection tools, aiming to reduce claims fraud
The adoption of blockchain technology in insurance broker transactions increased by 15% in 2023, enhancing transparency and security
Over 50% of insurance brokers utilize automation tools for routine tasks, leading to a 20% reduction in operating costs
Insurance brokers who provide personalized online portals see a 35% higher customer retention rate
The annual investment in insurtech by brokerage firms exceeded $1.2 billion in 2022, highlighting focus on innovation
The use of predictive analytics by insurance brokers increased by 40% from 2021 to 2023, enabling better risk assessment
Over 70% of insurance brokers participated in some form of online training or certifications in 2023, indicating increased emphasis on professional development

Technology Adoption and Innovation Interpretation

As insurance brokerages turbocharged their digital transformation—boosting claims efficiency by 25%, halving transaction times online, and deploying AI chatbots at a 50% adoption rate—they're not only streamlining operations and cutting costs by 20%, but also securing higher client engagement and retention, all while investing over a billion dollars in insurtech and fortifying cybersecurity—proving that in the fast-evolving digital era, innovation isn't just an option; it's insurance industry’s new policy for success.