Agents primarily representing one or more insurance carriers, or brokers not representing any particular carriers primarily engaged as independent contractors in the sale or placement of insurance contracts with carriers, but not employees of the insurance carriers they represent. This industry also includes independent organizations concerned with insurance services. Establishments engaged in searching real estate titles are classified in Industry 6541.
The Insurance Agents, Brokers, and Service industry (NAICS 6411) is experiencing notable qualitative trends driven by several key factors. One of the significant trends is the increasing adoption of digital technologies. Insurtech innovation is transforming traditional practices, with AI, machine learning, and blockchain being leveraged to enhance customer experience, streamline processes, and improve risk management. Additionally, there is a growing emphasis on personalized insurance products tailored to individual customer needs, facilitated by advanced data analytics and customer insights.
Sustainability is becoming a crucial consideration within the industry. Insurers are incorporating Environmental, Social, and Governance (ESG) criteria into their business models and investment strategies, responding to both regulatory pressures and consumer demand for responsible business practices. Furthermore, the COVID-19 pandemic has accelerated the shift towards remote work and virtual interactions, leading to increased demand for digital communication platforms, virtual consultations, and online policy management.
Looking towards the near future, forecasts suggest a continued focus on innovation and digital transformation. The integration of IoT (Internet of Things) devices is expected to rise, providing more precise data for risk assessment and personalized insurance offerings. Cybersecurity insurance is also projected to grow significantly as businesses and individuals become more aware of cyber threats. Moreover, regulatory changes and economic uncertainties will likely shape the industry, requiring agility and adaptability from insurance agents, brokers, and services providers.
Fire Insurance Underwriters'Laboratories
Fire loss appraisal
Insurance adjusters
Insurance advisory services
Insurance agents
Insurance brokers
Insurance claim adjusters, not employed by insurance companies
Insurance educational services
Insurance information bureaus
Insurance inspection and investigation services
Insurance loss prevention services
Insurance patrol services
Insurance professional standards services
Insurance reporting services
Insurance research services
Insurance services
Life insurance agents
Medical insurance claims, processing of: contract or fee basis
Pension and retirement plan consultants
Policy holders'consulting service
Rate making organizations, insurance
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