Major Group SIC 64 - Insurance Agents, Brokers, And Service

SIC 64 - Insurance Agents, Brokers, And Service

SIC 64 - Insurance Agents, Brokers, And Service
SIC 01 - Agricultural Production Crops SIC 02 - Agricultural Production Livestock And Animal Specialties SIC 07 - Agricultural Services SIC 08 - Forestry SIC 09 - Fishing, Hunting, And Trapping SIC 10 - Metal Mining SIC 12 - Coal Mining SIC 13 - Oil And Gas Extraction SIC 14 - Mining And Quarrying Of Nonmetallic Minerals, Except Fuels SIC 15 - Building Construction General Contractors And Operative Builders SIC 16 - Heavy Construction Other Than Building Construction Contractors SIC 17 - Construction Special Trade Contractors SIC 20 - Food And Kindred Products SIC 21 - Tobacco Products SIC 22 - Textile Mill Products SIC 23 - Apparel And Other Finished Products Made From Fabrics And Similar Materials SIC 24 - Lumber And Wood Products, Except Furniture SIC 25 - Furniture And Fixtures SIC 26 - Paper And Allied Products SIC 27 - Printing, Publishing, And Allied Industries SIC 28 - Chemicals And Allied Products SIC 29 - Petroleum Refining And Related Industries SIC 30 - Rubber And Miscellaneous Plastics Products SIC 31 - Leather And Leather Products SIC 32 - Stone, Clay, Glass, And Concrete Products SIC 33 - Primary Metal Industries SIC 34 - Fabricated Metal Products, Except Machinery And Transportation Equipment SIC 35 - Industrial And Commercial Machinery And Computer Equipment SIC 36 - Electronic And Other Electrical Equipment And Components, Except Computer Equipment SIC 37 - Transportation Equipment SIC 38 - Measuring, Analyzing, And Controlling Instruments Photographic, Medical And Optical Good SIC 39 - Miscellaneous Manufacturing Industries SIC 40 - Railroad Transportation SIC 41 - Local And Suburban Transit And Interurban Highway Passenger Transportation SIC 42 - Motor Freight Transportation And Warehousing SIC 44 - Water Transportation SIC 45 - Transportation By Air SIC 46 - Pipelines, Except Natural Gas SIC 47 - Transportation Services SIC 48 - Communications SIC 49 - Electric, Gas, And Sanitary Services SIC 50 - Wholesale Trade-durable Goods SIC 51 - Wholesale Trade-non-durable Goods SIC 52 - Building Materials, Hardware, Garden Supply, And Mobile Home Dealers SIC 53 - General Merchandise Stores SIC 54 - Food Stores SIC 55 - Automotive Dealers And Gasoline Service Stations SIC 56 - Apparel And Accessory Stores SIC 57 - Home Furniture, Furnishings, And Equipment Stores SIC 58 - Eating And Drinking Places SIC 59 - Miscellaneous Retail SIC 60 - Depository Institutions SIC 61 - Non-depository Credit Institutions SIC 62 - Security And Commodity Brokers, Dealers, Exchanges, And Services SIC 63 - Insurance Carriers SIC 64 - Insurance Agents, Brokers, And Service SIC 65 - Real Estate SIC 67 - Holding And Other Investment Offices SIC 70 - Hotels, Rooming Houses, Camps, And Other Lodging Places SIC 72 - Personal Services SIC 73 - Business Services SIC 75 - Automotive Repair, Services, And Parking SIC 76 - Miscellaneous Repair Services SIC 78 - Motion Pictures SIC 79 - Amusement And Recreation Services SIC 80 - Health Services SIC 81 - Legal Services SIC 82 - Educational Services SIC 83 - Social Services SIC 84 - Museums, Art Galleries, And Botanical And Zoological Gardens SIC 86 - Membership Organizations or Unions And Similar Labor Organizations SIC 87 - Engineering, Accounting, Research, Management, And Related Services SIC 89 - Services, Not Elsewhere Classified SIC 96 - Administration Of Economic Programs

This major group includes agents and brokers dealing in insurance, and also organizations offering services to insurance companies and to policy holders.

Industry trends:

The insurance industry, particularly under NAICS 64, which encompasses Insurance Agents, Brokers, and Service, is experiencing several notable qualitative trends. A significant shift is the increasing adoption of digital technologies. Agencies and brokers are leveraging artificial intelligence, machine learning, and big data analytics to streamline operations, improve customer service, and enhance risk assessment. This digital transformation is anticipated to continue, with more firms investing in InsurTech solutions to gain a competitive edge.

Customer expectations are also evolving. There is a heightened demand for personalized insurance products and services. Clients seek tailored policies that reflect their specific needs and lifestyles, and they expect seamless, omnichannel experiences. Insurers are responding by utilizing advanced analytics and customer data to create more customized offerings and to improve engagement through digital platforms.

Regulatory changes and compliance continue to be a focal point. With increasing emphasis on data privacy and cybersecurity, insurance agents and brokers must prioritize robust data protection strategies. Staying compliant with evolving regulations will be crucial, and firms may need to invest in compliance technologies and training.

Furthermore, the industry is witnessing a surge in interest towards sustainable and socially responsible insurance products. There is a growing consumer base that prefers companies with strong ESG (Environmental, Social, and Governance) credentials. This trend is expected to shape product development and marketing strategies in the near future.

Looking ahead, the next few years are likely to see continued growth in the adoption of digital tools, more personalized and customer-centric insurance solutions, rigorous regulatory adherence, and a stronger focus on sustainability. The integration of these elements will redefine how insurance agents and brokers operate, making the industry more dynamic and customer-focused.

This industry is comprised of:

SIC 641 - Insurance Agents, Brokers, And Service

Explore related industries:

SIC 47 - Transportation Services SIC 62 - Security And Commodity Brokers, Dealers, Exchanges, And Services SIC 63 - Insurance Carriers

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