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1、Matt LeonardBenedikt DietlViknesh SivalingamCatherine PolaneczkyTHE NEXT PHASE OF GROWTH FOR INSURANCE BROKERSFinancial sponsors need to integratebusinesses and drive cross-organizational effectiveness Oliver Wyman2The Next Phase of Growth forInsurance BrokersThe US insurance market has seen a prolo
2、nged period of growth driven by supportive macroeconomic conditions and an increasingly complex set of risks that are actively managed by corporates,small to medium-sized businesses(SMBs),and individuals alike.Insurance brokers have been central in helping end-insureds navigate this evolving risk la
3、ndscape ranging from an increased rise of climate-linked catastrophic events to more sophisticated and frequent cybersecurity and data privacy incidents.As a result of the Covid-19 pandemic,insurance brokers have needed to take actions and incorporate new ways of working.Insurance brokers have also
4、inadvertently benefited from the buoyant interest rate environment in the last two years.The hardening market helped offset temporary malaise in the insurance sector at the start of the pandemic and laid the foundation for what was an unprecedented year in 2021,as many insurance brokers,listed and p
5、rivate,delivered significant value to their shareholders.While this overall narrative bodes well for the insurance brokerage ecosystem,it does mask somewhat diverging fortunes for different constituents within that ecosystem.Our analysis suggests that a handful of insurance brokers such as the Top 4
6、 Global Insurance Brokers(Marsh,Aon plc,Willis Towers Watson and Arthur J Gallagher&Co.)1 and,highly acquisitive sponsor-backed insurance brokers(for example,Hub,USI,Acrisure)have experienced significantly higher premium and revenue growth,while many others in the long-tail struggle to remain compet