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Online Insurance Brokers in the US Industry Data and Analysis
Online insurance brokers have benefited from rising internet use and shifts toward digital services, leading to revenue growth, particularly during the pandemic when physical businesses closed and consumers turned to online options for convenience. However, this trend also triggered heightened volatility, with demand surges in 2020 followed by a dip as the economy reopened and consumers returned to in-person shopping. Revenue was further influenced by high interest rates, which initially drove consumers to online brokers for affordability, but later led to decreased overall demand from businesses due to recessionary fears. Despite these challenges, solid revenue growth caused most brokers’ profit to inch upward in the past five years.
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What's included in this industry analysis
IBISWorld's research coverage on the Online Insurance Brokers industry in the United States includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released April 2025.
About this industry
What's this industry report about?
The Online Insurance Brokers industry in the United States operates under the NAICS industry code OD4768. This industry includes independent individuals and businesses that act as intermediaries between consumers and insurance carriers through online internet portals and websites. Providers earn commission income from insurance carriers and may earn fee income for providing value-added services. Revenue includes sales that are initiated and completed online. Related terms covered in the Online Insurance Brokers industry in the United States include insurance broker, commission and directors and officers liability insurance.
What's included in this industry?
Products and services covered in Online Insurance Brokers industry in the United States include Personal P&C insurance, Commercial P&C insurance and Health and life insurance.
What companies are included in this industry?
The Online Insurance Brokers industry in the United States is highly fragmented with no companies holding a market share greater than 5%.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Online Insurance Brokers industry in the United States.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Online Insurance Brokers industry in the United States.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Online Insurance Brokers industry in the United States.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Online Insurance Brokers industry in the United States. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Online Insurance Brokers industry in the United States. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Online Insurance Brokers industry in the United States. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Online Insurance Brokers industry in the United States. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Online Insurance Brokers industry in the United States.
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Frequently Asked Questions
What is the market size of the Online Insurance Brokers industry in the United States in 2026?
The market size of the Online Insurance Brokers industry in the United States is $62.8bn in 2026.
How many businesses are there in the Online Insurance Brokers industry in the United States in 2025?
There are 118k businesses in the Online Insurance Brokers industry in the United States, which has grown at a CAGR of 1.8 % between 2020 and 2025.
How may import tariffs affect the Online Insurance Brokers industry in the United States?
The Online Insurance Brokers industry in the United States is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Online Insurance Brokers industry in the United States?
The Online Insurance Brokers industry in the United States is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Online Insurance Brokers industry in the United States grown or declined over the past 5 years?
The market size of the Online Insurance Brokers industry in the United States has been growing at a CAGR of 2.4 % between 2020 and 2025.
What is the forecast growth of the Online Insurance Brokers industry in the United States over the next 5 years?
Over the next five years, the Online Insurance Brokers industry in the United States is expected to grow.
What does the Online Insurance Brokers industry in the United States include?
Property and casualty insurance policy brokerage and Health and medical insurance brokerage are part of the Online Insurance Brokers industry in the United States.
How competitive is the Online Insurance Brokers industry in the United States?
The level of competition is high and increasing in the Online Insurance Brokers industry in the United States.
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