Magazine date:
Dec 2014 According to the constant monitoring of insurance intermediation in Europe, conducted by the company CGPA Europe, traditional insurance intermediaries are still the principal distribution channel for insurance products in Europe despite the arrival of new competitors like bancassurance and direct sales.
Agents and brokers hold a combined share of 57% of the European market. The property damage insurance resists to competition from other players better than life insurance with respective market shares of 66% and 61%.
It is the strong presence of bancassurance in some countries such as France, Spain, Italy and Belgium, which is behind the deterioration of the intermediaries' weight in life insurance.