Although new regulations and government programs such asPPACA have brought big changes to the insurance brokerage industry,another quiet revolution is also brewing: Brokers are consolidating andjoining forces. The days of individual agents offering one type ofinsurance are waning; larger firms and one-stop-shopping models arebecoming the norm.
The new approach often brings together health insurance,property, and casualty, even financial services, under one roof.Industry experts say the development is picking up speed asconsumers start to see brokerage firms as they see lawyers: aprofessional service that may have one location, but manyspecialists.
Driven by demographics?
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