Risk Management, Insurance Advisory & Consulting in the US - Industry Market Research Report

Risk Management, Insurance Advisory & Consulting in the US - Industry Market Research Report

Risk Management, Insurance Advisory & Consulting in the US

The Risk Management, Insurance Advisory and Consulting industry has experienced revenue volatility. At the beginning of the period, upstream insurance providers struggled with profitability and revenue after several severe natural disasters; this led insurance providers to enter into a price-hardening cycle characterized by rising insurance premiums and increased profitability for underwriters. Also, COVID-19 in 2020 dampened industry revenue growth. In particular, the initial unemployment dropped and reduced business and consumer expenditures. However, industry-wide revenue has been increasing at a CAGR of 2.7% over the past five years, including an estimated 5.2% decrease in the current year, and is expected to total $10.6 billion in 2023. In the same year, profit is projected to decrease to 13.5%.

The Risk Management, Insurance Advisory and Consulting industry provides insurance advisory and risk management services to insurers and other businesses.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares."