The number insurance agencies has dramatically increased to 40,000, up from 36,000 in 2020. According to the Big I (here, here), the creation of new, mostly smaller, agencies drove the increase during covid. This is despite a high degree of mergers & acquisitions (M&A) activity in insurance distribution during the same period.
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Great insights! It’s interesting to see how the growing number of insurance agencies is shaping the industry landscape.
Posted by: Monica | September 27, 2024 at 03:09 PM
This blog on the increasing number of insurance agencies is very insightful! You've effectively captured the growth trend and its implications for both the industry and consumers. Your analysis offers a clear perspective on the opportunities and challenges this expansion brings. Thanks for providing such a well-rounded and informative look at this important development!
Posted by: Amelia | August 16, 2024 at 04:10 PM