Professors at Fachhochschule Dortmund University of Applied Sciences and Arts examine business developments among independent insurance brokers for the fifth time - age structure is a cause for concern.
Independent insurance sales in Germany are facing major challenges. This is shown by the current BVK Structural Analysis 2025, conducted by Prof. Dr. Matthias Beenken and Prof. Dr. Lukas Linnenbrink from Fachhochschule Dortmund on behalf of the Bundesverband Deutscher Versicherungskaufleute e.V. (Federal Association of German Insurance Agents). The study is based on the responses of 1,440 self-employed insurance agents and brokers.
One result: well over half of those surveyed are over 50 years old and will need a succession plan in the next few years. However, only a third have already made arrangements or are planning to do so. At the same time, less than 15 percent are under 40, the typical age for starting a business. "The demographic trend in independent insurance sales remains a cause for concern," says Prof. Dr. Matthias Beenken. "The baby boomers are retiring, while the younger generations are significantly smaller and find risky entrepreneurial activity less attractive."
Business Studies show positive trends
Despite demographic challenges, Business Studies show positive signs: the turnover and profits of companies have increased in recent years. Only around one in seven brokerage businesses remain below the critical thresholds of €100,000 turnover and €50,000 profit. "The key business figures are generally developing positively," says Prof. Dr. Lukas Linnenbrink. "However, the cost gap is problematic." One in four businesses stated that costs are rising significantly faster than revenue.
Increasing digitalization does not counteract this. The proportion of brokers whose websites allow customers to take out insurance online has risen further compared to the comparative study two years ago - to 83%. The proportion of new digital business and thus commission income remains low for the vast majority of respondents. Around one in seven respondents stated that they had not concluded any business online. A good one in two generate between one and two percent of their business online.
However, employees are a key driver of growth. There is a significant correlation between staff numbers and turnover. "A clever division of labour increases sales productivity and therefore also profits - provided the management has the necessary leadership skills," emphasizes Matthias Beenken. "In mathematical terms, each additional employee generates almost 69,000 euros more turnover."
The BVK Structural Analysis 2025 also looks at the industry's remuneration system, the use of artificial intelligence (AI) and the persistently low proportion of women. The results are the basis for further research and form the basis for demonstrating current challenges and potential in insurance sales to students of the insurance industry (dual) in a practical way.
The study "Business structures of insurance sales - BVK structural analysis 2025" comprises 160 pages and is available as an e-book for a fee from the publisher "VersicherungsJournal" (ISBN 978-3-938226-69-8). The work is also available in the library of Fachhochschule Dortmund.