The Europe Online Insurance Market Report is Segmented by Insurance Type (Life Insurance, Health Insurance, Property & Casualty, Specialty Lines), Customer Segment (Retail/Individual, SME/Commercial, Large Enterprise/Corporate), Device Platform (Mobile App, Desktop/Web), and Geography (United Kingdom, Germany, France, Spain, Italy, BENELUX, NORDICS, Rest of Europe). The Market Forecasts are Provided in Terms of Value (USD).

Discover the booming European insurance market! Projected to reach €188 billion by 2033, this market analysis reveals key drivers, trends, and restraints impacting life and non-life insurance. Learn about top players like Allianz and AXA, and explore regional growth opportunities across Germany, France, the UK, and Italy. Recent developments include: In 2022-Munich Re has acquired apinity GmbH, a start-up that supplies application programming interface (API) solutions in the form of Software as a Service (SaaS) for the insurance industry's entire ecosystem, In 2022-Allianz Direct and CHECK24 are launching a strategic partnership in Germany and Spain: in future, consumers in both countries will be able to access Allianz Direct products on CHECK24's comparison portals. The first joint product launch will be in motor insurance in Germany: Following a pilot phase in August, Allianz Direct will be fully integrated with car insurance on CHECK24's comparison portal from September 2022. Notable trends are: Covid-19 accelerated the Digital insurance.

The Europe Travel Insurance Market Report is Segmented by Coverage Type (Single Trip Travel Insurance, Annual Multi-Trip Travel Insurance), End User (Senior Citizens, Education Travelers, Business Travelers, and More), Distribution Channel (Insurance Intermediaries, Insurance Companies, Banks, and More), and Geography (United Kingdom, Germany, France, and More). The Market Forecasts are Provided in Terms of Value (USD).

Total assets are a key indicator of the size of a company, indicating the enterprises possessions, both tangible and intangible. With some of the world’s largest insurance companies residing in Europe, it is unsurprising that at the end of 2019, the German insurer Allianz SE and AXA of France have assets totaling almost 1.2 trillion euros. Total assets are just one aspect that measures the size and performance of an insurer.

Gross written premiums

Gross written premiums are used as an accounting term by insurers to display the total amount owed by clients and customers in exchange for the coverage offered by insurance companies. Written premiums can be accounted in gross and net premiums. Gross premiums written does not factor in any deductions made via expenses, for example fees to agents or salaries. In terms of total insurance premiums made (gross) in Europe, 2018 was the best year on record.

Net premiums earned

As insurance premiums are paid in advance, insurance companies record both written premiums unearned and premiums earned. A premium is not earned and deemed as profit until the insurance company has fulfilled its obligation of insuring a policy over a given period. In 2018, the United Kingdom (UK), which is Europe's largest insurance market in terms of gross written premiums, saw net premiums of over 232 billion euros for non-life and approximately 76.7 billion euros for life insurance.

The European insurance brokerage market is booming, projected to reach €475.82 million by 2033 with a CAGR of 7.27%. Discover key drivers, trends, and top players shaping this dynamic sector, including Marsh & McLennan, Aon, and Willis Towers Watson. Explore regional breakdowns and market segmentation in our comprehensive analysis. Recent developments include: March 2022: Marsh & McLennan, the world's largest insurance broker, was planning to exit all of its businesses in Russia, while its rival Aon suspended operations in the country., March 2022: Aon PLC, a leading global professional services firm, acquired the actuarial software platform Tyche from technology and software firm RPC Tyche. The transaction significantly expands Aon's capabilities to help re/insurer clients rethink access to capital and make better business decisions.. Notable trends are: Increased Demand for Insurance Policies Driving the Insurance Brokerage Market in Europe.

Europe Online Insurance Market size was valued at USD 48.3 Billion in 2023 and is projected to reach USD 145.6 Billion by 2031 growing at a CAGR of 14.7% from 2024 to 2031.

Key Market Drivers:

Digital Transformation Post-COVID: According to McKinsey's European Insurance Report, 44% of European insurance clients are likely to use digital insurance services by 2023. This is a significant shift toward online platforms, as more consumers appreciate the convenience and accessibility they provide. According to the survey, internet insurance penetration has increased significantly, by 25% since the epidemic began.

Europe Health Insurance Market has valued at USD 283.1 billion in 2023 and is anticipated to project robust growth in the forecast period with a CAGR of 6.31% through 2029.

Europe Insurance Claims Management market size was $4,298.32 Million in 2024 and it is forecasted to reach $6,093.74 Million by 2030.

Europe SME insurance market size is USD 7053.66 million in 2024 and will expand at a compound annual growth rate (CAGR) of 5.0% from 2024 to 2031.

The Europe Insurance Telematics Market is segmented by Type (Pay-As-You-Drive, Pay-How-You-Drive, and Manage-How-You-Drive), country (Italy, UK, and Germany). The market sizes and forecasts are provided in terms of value (USD billion) for all the above segments.

The European embedded insurance market is experiencing robust growth, projected to reach €8.08 billion in 2025 and exhibiting a remarkable Compound Annual Growth Rate (CAGR) of 35.24% from 2025 to 2033. This expansion is driven by several key factors. Firstly, the increasing digitalization of various sectors, particularly e-commerce and fintech, provides fertile ground for embedding insurance products directly into the customer journey. Consumers benefit from seamless and convenient access to insurance coverage tailored to their specific needs, without the hassle of separate purchase processes. Secondly, the rising adoption of Insurtech solutions is streamlining operations, reducing costs, and improving customer experience. This includes personalized risk assessment tools, automated claims processing, and efficient distribution channels, contributing to faster product development and wider market penetration. Lastly, regulatory changes in Europe promoting open banking and data sharing facilitate data-driven product development and customer segmentation, enhancing the efficiency and effectiveness of embedded insurance solutions. The market segmentation reveals a diverse landscape. Electronics, furniture, and travel insurance are likely to be leading segments, fueled by the growing online sales in these sectors. The online channel dominates, reflecting the consumer preference for digital convenience. Major players like Cover Genius, Munich Re, Allianz, Chubb, AXA, Generali, and others are vying for market share, driving innovation and competition. While specific regional data for the UK, France, Germany, Italy, and Spain are not provided, their established digital economies suggest these countries will contribute significantly to the overall market growth. Future market penetration will depend on continued technological innovation, enhanced consumer trust, and favorable regulatory environments that foster innovation while ensuring consumer protection. The overall outlook remains positive, suggesting substantial growth opportunities in the coming years for both established insurers and new entrants. Recent developments include: March 2024: Chubb Limited recently unveiled a global platform aimed at offering transactional risk liability insurance products in international markets., January 2024: Cover Genius, a leading insurtech for embedded protection, and Vueling, Spain's prominent low-cost airline, unveiled an exclusive partnership aimed at safeguarding over 30 million travelers. By tapping into Cover Genius' robust global technology, this collaboration empowers Vueling to expand its reach beyond Spain, effectively addressing the evolving demands of the global travel community., November 2023: Cover Genius, a prominent insurtech specializing in embedded protection, and SAS, the premier airline in Scandinavia, unveiled an exclusive and tailor-made protection program. This program spans over 25 European countries and the United States and has the potential for global expansion. By integrating comprehensive travel protection directly into the customer booking process, passengers not only enjoy AI-driven price optimization and personalized product suggestions but also a hassle-free claims process.. Key drivers for this market are: Increasing Adoption of Cashless Transactions will Boost the Market, Growth in E-Commerce is Driving the Market. Potential restraints include: Increasing Adoption of Cashless Transactions will Boost the Market, Growth in E-Commerce is Driving the Market. Notable trends are: Digitalization and High-speed Internet to Propel the European Embedded Insurance Market.

In 2023, the amount of direct gross written premiums on the European life insurance market amounted to nearly 678 billion euros. This an increase compared to the 669.6 billion euros recorded in 2022. The value of direct gross written premiums on the life insurance market in Europe peaked in 2021, when it reached approximately 723 billion euros. Leading life insurance markets France had the highest value of life insurance premiums among all European countries in 2023, followed by Germany and Italy. Together, the top three countries accounted for more than 68 percent of the European market. In terms of investment portfolio, the top three markets were France, the UK, and Germany, with a total value of over 5.1 billion euros. Insurance market concentration in Europe Market concentration is an easy way to illustrate how the market within an industry is distributed among companies of various sizes. In 2018, Germany, Sweden, and Italy were the countries with the least concentrated life insurance market in Europe. In all three countries, the combined market share of the three largest life insurance companies did not exceed 35 percent.

Europe Insurance TPA Market size was valued at USD 91.24 billion in 2023, and it is projected to surge to USD 156.21 billion by 2030, with a CAGR of 6.9%

Discover the booming global life and non-life insurance market! This in-depth analysis reveals a CAGR exceeding 4%, driven by key trends and fueled by technological advancements. Explore market segmentation, regional growth, and top players like Ping An, UnitedHealth, and Allianz. Learn more about future projections and investment opportunities in this dynamic sector. Recent developments include: June 2022: UnitedHealthcare announced the plans of acquiring EMIS Group. The EMIS Group is a leading health technology company based in the UK. The deal is expected to be an all-cash deal of GBP 1.24 billion (USD 1.5 billion)., February 2022: Allianz SE one of the leading insurance company globally announced that is entering into a Share Purchase Agreement (SPA), to acquire 72% of European Reliance General Insurance Company SA ('European Reliance'). European Reliance is one of the leader in the Greek insurance sector with a network of 5,667 agents and 110 retail offices.. Notable trends are: Cyber Insurance is Driving the Market.

The size of the Europe Embedded Insurance Market market was valued at USD 8.08 Million in 2024 and is projected to reach USD 66.86 Million by 2033, with an expected CAGR of 35.24% during the forecast period. Recent developments include: March 2024: Chubb Limited recently unveiled a global platform aimed at offering transactional risk liability insurance products in international markets., January 2024: Cover Genius, a leading insurtech for embedded protection, and Vueling, Spain's prominent low-cost airline, unveiled an exclusive partnership aimed at safeguarding over 30 million travelers. By tapping into Cover Genius' robust global technology, this collaboration empowers Vueling to expand its reach beyond Spain, effectively addressing the evolving demands of the global travel community., November 2023: Cover Genius, a prominent insurtech specializing in embedded protection, and SAS, the premier airline in Scandinavia, unveiled an exclusive and tailor-made protection program. This program spans over 25 European countries and the United States and has the potential for global expansion. By integrating comprehensive travel protection directly into the customer booking process, passengers not only enjoy AI-driven price optimization and personalized product suggestions but also a hassle-free claims process.. Key drivers for this market are: Increasing Adoption of Cashless Transactions will Boost the Market, Growth in E-Commerce is Driving the Market. Potential restraints include: Increasing Adoption of Cashless Transactions will Boost the Market, Growth in E-Commerce is Driving the Market. Notable trends are: Digitalization and High-speed Internet to Propel the European Embedded Insurance Market.

As of July 2025, Allianz was the leading life and health insurer in Europe, with a market value of about ***** billion U.S. dollars. The second-largest European life and health insurance company, with a market value of approximately ****billion U.S. dollars, was Swiss insurer Chubb. Allianz was also the largest European insurance company by total assets. Market capitalization Market capitalization, also known as stock market value, is the total value of issued shares of a publicly traded company. It is equal to the share price multiplied by the number of shares outstanding. It applies only to publicly traded companies or companies that have made their stock market debut, also known as the initial public offering, or an IPO. Due to the practice of buying and selling stock in public markets, market capitalization can be used as a proxy for the wider public’s opinion of a company’s net worth. The insurance industry in the United Kingdom (UK) Although the largest insurers hailed from Germany and Switzerland, France was still the largest insurance market. The UK is the largest insurance industry in Europe by premiums written. In the same year, the ratio of premiums to GDP, also referred to as insurance penetration, was ***** percent.

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Europe Insurance Brokerage Market Size and Trends

The Europe insurance brokerage market size is forecast to increase by USD 9.8 billion at a CAGR of 6.8% between 2024 and 2028. The market is experiencing significant changes, driven by various factors. One notable trend is the increasing demand for insurance policies, particularly in areas such as cyber insurance. This growth is attributed to the heightened awareness of risk and the need for protection against cyber threats. Another trend is the integration of IT and analytic solutions to enhance risk assessment and claims management. However, this market also faces challenges, including regulatory changes and the conflict between intermediaries, insurers, and policyholders over technical advice and pricing. By offering comprehensive insurance solutions, insurance brokers are expanding their offerings to include security services and personalized financial advice. Effective claims management and risk assessment are crucial for insurers to maintain profitability and for policyholders to receive optimal coverage. Cyber insurance, in particular, requires specialized knowledge and expertise, making the role of insurance brokers increasingly important in navigating this complex landscape.

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The market is a significant sector in the financial services industry, playing a crucial role in connecting policyholders with insurers. This market is characterized by the provision of brokerage services, which include customized coverage and technical advice, to help policyholders make informed decisions about their insurance needs. Insurance brokers act as intermediaries between policyholders and insurers, offering a range of services beyond just selling insurance policies. They provide professional advice on various types of insurance, such as life insurance for financial planning, medical insurance and health insurance for personal protection, and property insurance for business and homeowners. The market is undergoing digital transformation, with e-commerce platforms becoming increasingly popular. This shift towards digital solutions enables policyholders to access customized insurance plans more efficiently and conveniently. Moreover, it allows insurers to streamline their underwriting processes, reducing turnaround times and enhancing customer experience. Customized insurance solutions are a key trend in the market. Policyholders are increasingly seeking tailored coverage that caters to their unique requirements. Insurance brokers leverage advanced analytics and technology to offer personalized recommendations based on individual risk profiles. Insurance brokers play a vital role in promoting financial literacy among their clients.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.

Type

  Retail
  Wholesale


Geography

  Europe

    Germany
    UK
    France
    Italy

By Type Insights

The retail segment is estimated to witness significant growth during the forecast period. Retail insurance brokers serve as intermediaries between insurance seekers and the insurance marketplace in the United States. They procure insurance policies from wholesale brokers and insurers, subsequently selling these offerings to businesses or individuals. Some retail insurance brokers maintain exclusive relationships with one specific wholesale broker or insurer.

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The retail segment was the largest segment and was valued at USD 14.30 billion in 2018. The retail insurance brokerage role involves several key functions. They conduct thorough research on various insurance policies to identify suitable coverage options for their clients. Negotiations with insurers transpire to secure favorable terms for the policyholder. Insurance premiums are collected, and data is gathered for underwriters. Renewals or revisions of existing policies are managed for customers, and guidance is provided regarding claims handling. Hence, such factors are fuelling the growth of this segment during the forecast period.

Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Europe Insurance Brokerage Market Driver

Increased demand for insurance policies is notably driving market growth. In the European market, customer interactions play a pivotal role in driving growth. With an increasing focus on financial literacy and customized insurance plans, brokers are working diligently to streamline underwriting processes and claims handling. This approach not only enhances customer sa

The Czech Republic's life and non-life insurance market exhibits robust growth potential. While precise market size figures for 2025 aren't provided, leveraging data from similar European markets and considering the Czech Republic's economic stability and increasing middle class, we can reasonably estimate the 2025 market size to be approximately €15 billion. This estimate considers factors such as increasing consumer awareness of insurance products, government regulations promoting financial inclusion, and the rising prevalence of chronic diseases necessitating health insurance. Analyzing the market's historical trajectory (2019-2024) and projecting future growth, a Compound Annual Growth Rate (CAGR) of 4% is projected for the forecast period 2025-2033. This indicates a steady expansion driven by factors including increasing penetration of insurance products, particularly in under-insured segments like the younger population and small businesses. The projected CAGR of 4% suggests a steady and consistent growth trajectory for the insurance sector in the Czech Republic. This growth is underpinned by a combination of economic factors – including rising disposable incomes and a growing awareness of the benefits of insurance coverage – and demographic trends such as an aging population leading to an increased demand for life insurance and healthcare-related products. Furthermore, the regulatory environment, while stable, is likely to continue evolving, prompting insurers to adapt their product offerings and distribution strategies to maintain competitiveness and capture market share. The non-life insurance segment is expected to experience slightly higher growth compared to the life insurance segment, driven largely by increased demand for motor vehicle and property insurance. Further analysis of specific insurance product categories is necessary for a more granular understanding of market dynamics. Notable trends are: Few Companies captures major market share in Czech Republic Insurance Industry:.

Market concentration is an easy way to illustrate how the market within an industry is distributed among companies of various sizes. In 2022, France was the least concentrated non-life insurance market, with the top ten insurers making up ** percent of the market. On the other end of the spectrum stood many countries such as Lithuania, Latvia, Estonia, Iceland, Finland, Slovenia, and Slovakia, where the market was entirely dominated by the largest ten insurers.

The European insurance brokerage market, valued at €261.19 million in 2025, is projected to experience robust growth, driven by several key factors. Increasing demand for specialized insurance products, particularly in sectors like cybersecurity and renewable energy, is fueling market expansion. Furthermore, the rising complexity of insurance regulations and the need for expert guidance are compelling businesses and individuals to leverage the expertise of insurance brokers. The growing adoption of digital technologies, such as Insurtech solutions and online platforms, is streamlining operations and enhancing customer experience, further contributing to market growth. Competitive pressures from established players like Marsh & McLennan, Willis Towers Watson, Aon, and Arthur J Gallagher, alongside emerging smaller firms and Insurtech startups, are driving innovation and efficiency within the market. However, certain challenges could moderate the market's growth trajectory. Economic uncertainty and fluctuations in interest rates can impact consumer spending on insurance, potentially affecting brokerage revenue. Stringent regulatory compliance requirements and the need for continuous investment in technology and talent can also pose obstacles. Despite these challenges, the market is expected to maintain a healthy compound annual growth rate (CAGR) of 7.27% from 2025 to 2033, driven by the long-term trends favoring professional insurance brokerage services in a complex and increasingly regulated environment. The regional distribution of market share likely favors larger, more developed economies within Europe. Further segmentation analysis is needed to fully understand market dynamics across specific insurance types (e.g., property & casualty, life & health) and geographic areas. Recent developments include: March 2022: Marsh & McLennan, the world's largest insurance broker, was planning to exit all of its businesses in Russia, while its rival Aon suspended operations in the country., March 2022: Aon PLC, a leading global professional services firm, acquired the actuarial software platform Tyche from technology and software firm RPC Tyche. The transaction significantly expands Aon's capabilities to help re/insurer clients rethink access to capital and make better business decisions.. Notable trends are: Increased Demand for Insurance Policies Driving the Insurance Brokerage Market in Europe.