Momentous Insurance Brokerage Market Insights and News

The momentous insurance brokerage market is a rapidly evolving space, with many exciting developments on the horizon. According to recent trends, the global insurance brokerage market is expected to reach $2.5 trillion by 2025.

Many insurance brokers are now turning to digital platforms to streamline their operations and improve customer engagement. This shift towards digitalization has led to increased efficiency and cost savings for brokers.

The growing demand for specialty insurance products is also driving growth in the market. Specialty insurance products, such as cyber insurance and professional liability insurance, are becoming increasingly popular among businesses.

Insurance brokers are now facing increased competition from online insurance platforms, which are offering more affordable and convenient insurance options to customers.

Momentous Insurance Brokerage has a strong reputation for expertise in the entertainment, film, and TV industries, as noted by David Eslick, CEO of Marsh & McLennan Agency LLC.

Momentous was acquired by Marsh & McLennan Agency LLC, a middle-market agency subsidiary of Marsh, in a move that will expand MMA's presence in the industry.

The acquisition includes three offices: Los Angeles, Torrance, California, and New York, and will bring 220 employees under MMA's umbrella.

Momentous Insurance Brokerage was founded in 2008. It's a Los Angeles-based independent insurance agency with expertise in the entertainment industry.

The agency provides full-service risk management, insurance, and employee benefits solutions. It targets high net worth private clients and the entertainment sector.

Momentous has three offices in Los Angeles, Torrance, California, and New York City. The agency has 220 colleagues who will join Marsh & McLennan Agency LLC following the deal.

Diane Brinson is the president and CEO of Momentous. She will continue to lead operations after the acquisition.

Marsh & McLennan Agency LLC is a middle-market agency subsidiary of Marsh. It's excited to collaborate with the Momentous team to further enhance client offerings.

David Eslick, CEO of MMA, commented on the deal, highlighting Momentous' reputation for serving clients across the country and its expertise in the entertainment, film, and TV industries.

At Momentous Insurance Brokerage, they offer a wide range of services to meet the diverse needs of their clients. Their team of experts has extensive knowledge of the insurance industry, allowing them to provide tailored solutions for individuals, families, and businesses.

They specialize in commercial insurance, offering policies for businesses of all sizes and types. This includes liability insurance, property insurance, and workers' compensation insurance.

Momentous Insurance Brokerage also provides personal insurance services, including auto, home, and life insurance. They understand the importance of protecting one's assets and loved ones.

Their team is dedicated to finding the right insurance policy for each client, taking into account their unique needs and circumstances. This involves a thorough analysis of the client's risk profile and financial situation.

Momentous Insurance Brokerage is committed to delivering exceptional customer service, ensuring that clients receive timely and professional support throughout the insurance process.

Momentous Insurance Brokerage is well-positioned to capitalize on the growing demand for digital insurance solutions. This is evident in the company's investment in cutting-edge technology, such as artificial intelligence and machine learning, to streamline claims processing and improve customer experience.

The insurance industry is expected to reach $6.9 trillion in global premium in 2023, with digital insurance solutions driving much of this growth. This trend is particularly pronounced in the US, where online insurance sales are projected to increase by 15% annually.

Momentous Insurance Brokerage has been at the forefront of this trend, leveraging data analytics to provide personalized insurance recommendations to its clients. By doing so, the company has been able to increase customer satisfaction and reduce the average time it takes to process a claim by 30%.

The use of digital platforms has also enabled Momentous Insurance Brokerage to expand its reach and offer its services to a wider audience. In 2022, the company reported a 25% increase in online sales, with a significant portion of this growth attributed to its mobile app.

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Marsh & McLennan Agency LLC (MMA) has acquired Momentous Insurance Brokerage, a Los Angeles-based independent insurance agency with expertise in the entertainment industry.

Momentous provides full-service risk management, insurance, and employee benefits solutions to high net worth private clients and the entertainment sector.

The brokerage was founded in 2008 and has 220 colleagues in three offices in Los Angeles, Torrance, California, and New York City.

All 220 Momentous colleagues will join MMA after the deal, continuing under the leadership of Diane Brinson, the agency's president and CEO.

Diane Brinson is thrilled to join MMA, citing their shared commitment to serving clients, finding innovative solutions, and delivering on promises.

Chris Williams, CEO of MMA's West region, sees Momentous as a strong business with a commitment to clients, colleagues, and the community.

David Eslick, CEO of MMA, is excited to collaborate with the Momentous team, highlighting their reputation for dedication to serving clients across the country and expertise in the entertainment, film, and TV industries.

Marsh & McLennan Agency LLC has acquired Los Angeles-based Momentous Insurance Brokerage Inc. This acquisition adds to the growing list of companies expanding their presence in the insurance industry.

Diane Brinson will continue to lead operations at Momentous. Her expertise will be a valuable asset to the new team.

Momentous has 220 employees in three offices: Los Angeles, Torrance, California, and New York. They will now join Marsh & McLennan Agency LLC.

The entertainment, film, and TV industries are a key area of expertise for Momentous.