[October 10, 2017]

Insurance Brokerage Market Procurement Research - Forecast and Analysis by SpendEdge

Global procurement intelligence advisory firm, SpendEdge, has announced the release of their 'Insurance Brokerage Procurement Research Report.' The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the financial services industry. This report breaks down the data and analysis behind the procurement of insurance brokerage and acts as an all-inclusive guide for making smart purchasing decisions.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20171010006099/en/

Global Insurance Brokerage Procurement Market Intelligence Report (Graphic: Business Wire)

"The global insurance brokerage services market is highly competitive with global and regional players that are well-versed in analyzing risk," says SpendEdge procurement research analyst Suraj Kumar S. "However, Europe and the Americas are considered as matured markets due to the presence of large-scale industries across various sectors in these geographies for a long time," added Suraj.

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Key Report Features

Report Insights

• The global insurance brokerage market is fueled by the increase in the volume of data due to the progression of the digital world, which makes data a crucial corporate asset, resulting in increased demand for cyber insurance.
• Selecting suppliers with industry relevant assessment capabilities will help the purchasing managers choose the right insurance plan for risks faced by buyers at present or in the future.
• Purchasing managers are finding it difficult to select suppliers with required skillsets and in-depth industry knowledge at an effective cost.

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Insurance Brokerage Pricing Trends

The percentage-based model is one of the most widely implemented pricing models in the insurance brokerage market. It helps reduce management efforts required to analyze pricing as it is based on a pre-determined factor such as the value of coverage.

According to procurement analysts at SpendEdge, hourly billing pricing has high potential, and purchasing managers must implement this in the forecast period. It offers great control over budgets and accounting process and allows comparison pricing between competitors.

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About SpendEdge

SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred procurement market intelligence partner for Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence that helps sourcing and procurement professionals make informed decisions. These innovative procurement solutions help enterprises transform structural capabilities, improve execution efficiency, and fast-track time to savings.

View source version on businesswire.com: http://www.businesswire.com/news/home/20171010006099/en/

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