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Global B2B2C Insurance Market Analysis, Share, Forecast: By Type: Life Insurance, Non-life Insurance; By Distribution Channel: Online, Offline; By End Use: Automotive, Banking and Financial Institutes, Utilities, Travel, Real Estate, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Global B2B2C Insurance Market Outlook
The global B2B2C insurance market size was approximately USD 3.68 billion in 2023. The market is projected to grow at a CAGR of 5.9% between 2024 and 2032, reaching a value of USD 6.05 billion by 2032.
Key Trends in the Market
Business to business to consumer, abbreviated as B2B2C, refers to the method of insurance distribution where an insurer makes use of another business, for instance, a retailer to sell insurance to customers. B2B2C reaches out to the masses by the rollout of a single, smart, convenient, and spot-on approach. B2B2C insurance, also referred to as embedded insurance, is used by utility companies, professional associations, retailers, and e-commerce giants.
- One of the key B2B2C insurance market trends includes the growing adoption of artificial intelligence (AI) and advanced analytics by key players to improve their revenue to cost reduction, enhance customer experience, mitigate various risks, and prevent fraud management. Moreover, the use of technologies such as artificial intelligence (AI) to transform the pricing, underwriting, risk profiling and services of B2B2C insurance solutions is propelling the market.
- The rapid digitisation of sectors such as ridesharing, food delivery, e-commerce, and banking, among others, is aiding the B2B2C insurance market growth. The analysis of a large amount of registered data gives a greater understanding of customer preferences and choices. Leveraging this, companies are developing tailored insurance products that meet the expectations and needs of partners and their customers.
- Due to the rising challenges and competition in the growing automotive sector, embedded insurance is gaining popularity as an effective method in supporting companies to expand their revenue streams and provide better customer experience that can further help in improving loyalty and brand value.
Market Analysis
Based on type, the B2B2C insurance market segmentation includes life insurance and non-life insurance. On the basis of distribution channel, the market can be bifurcated into online and offline.
By end use, the market division includes automotive, banking and financial institutions, utilities, travel, and real estate, among others. The major regional markets for B2B2C insurance are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global B2B2C insurance market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Japan Post Insurance Co., Ltd.
- China Life Insurance (Group) Company
- Munich Re Group
- AXA Partners Holding SA
- Allianz Partners SAS
- BNP Paribas S.A.
- Berkshire Hathaway Inc.
- Prudential Financial Inc.
- Assicurazioni Generali S.p.A.
- Aditya Birla Capital Ltd.
- Others
Market Share by Distribution Channel
As per the global B2B2C insurance market analysis, online mode of distribution of B2B2C insurance accounts for a substantial market share. Mobile insurance platforms are gaining popularity due to customers’ ability to purchase suitable insurance packages and manage their accounts through them. With the growing digitisation, market players are supporting insurance and platform companies by making insurance affordable and accessible to customers from all walks of life.
Market Share by Region
The Asia Pacific represents a significant portion of the B2B2C insurance market share owing to favourable government regulations aimed at supporting the digitalisation of the insurance industry. Reportedly, in 2021, about 95% of the consumers in Asia used digital channels, indicating a preference for digital methods. The active use of digital platforms in the region is further contributing to a greater adoption of life insurance and nonlife insurance products through digital platforms.
Competitive Landscape
Allianz Partners SAS, based in France, is a company that offers uninterrupted B2B2C insurance and assistance services for the automotive, health, and travel sectors. The company is customer-driven and provides high-tech high-touch products that are future-ready, thereby redefining traditional insurance services.
Munich Re Group is a German agency and coinsurance business that serves the insurance industry. The company offers expertise and support to its business partners and develops innovative insurance solutions.
AXA Partners Holding is a French company that is engaged in providing assistance and protection solutions for areas such as automotive and mobility, housing, travel, health, legal protection, credit insurance, and income protection. With offices in 40 countries across the globe, the company aims to offer tailored solutions to its clients and partners.
Other players operating in the B2B2C insurance market include Japan Post Insurance Co., Ltd., China Life Insurance (Group) Company, BNP Paribas S.A., Berkshire Hathaway Inc., Prudential Financial Inc., Assicurazioni Generali S.p.A., and Aditya Birla Capital Ltd., among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Distribution Channel |
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| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global B2B2C Insurance Market Analysis
8.1 Key Industry Highlights
8.2 Global B2B2C Insurance Historical Market (2018-2023)
8.3 Global B2B2C Insurance Market Forecast (2024-2032)
8.4 Global B2B2C Insurance Market by Type
8.4.1 Life Insurance
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Non-life Insurance
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global B2B2C Insurance Market by Distribution Channel
8.5.1 Online
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Offline
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.6 Global B2B2C Insurance Market by End Use
8.6.1 Automotive
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Banking and Financial Institutes
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Utilities
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Travel
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Real Estate
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
8.6.6 Others
8.7 Global B2B2C Insurance Market by Region
8.7.1 North America
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Europe
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.7.3 Asia Pacific
8.7.3.1 Historical Trend (2018-2023)
8.7.3.2 Forecast Trend (2024-2032)
8.7.4 Latin America
8.7.4.1 Historical Trend (2018-2023)
8.7.4.2 Forecast Trend (2024-2032)
8.7.5 Middle East and Africa
8.7.5.1 Historical Trend (2018-2023)
8.7.5.2 Forecast Trend (2024-2032)
9 North America B2B2C Insurance Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe B2B2C Insurance Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific B2B2C Insurance Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America B2B2C Insurance Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa B2B2C Insurance Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Competitive Landscape
15.1 Market Structure
15.2 Company Profiles
15.2.1 Japan Post Insurance Co., Ltd.
15.2.1.1 Company Overview
15.2.1.2 Product Portfolio
15.2.1.3 Demographic Reach and Achievements
15.2.1.4 Certifications
15.2.2 China Life Insurance (Group) Company
15.2.2.1 Company Overview
15.2.2.2 Product Portfolio
15.2.2.3 Demographic Reach and Achievements
15.2.2.4 Certifications
15.2.3 Munich Re Group
15.2.3.1 Company Overview
15.2.3.2 Product Portfolio
15.2.3.3 Demographic Reach and Achievements
15.2.3.4 Certifications
15.2.4 AXA Partners Holding SA
15.2.4.1 Company Overview
15.2.4.2 Product Portfolio
15.2.4.3 Demographic Reach and Achievements
15.2.4.4 Certifications
15.2.5 Allianz Partners SAS
15.2.5.1 Company Overview
15.2.5.2 Product Portfolio
15.2.5.3 Demographic Reach and Achievements
15.2.5.4 Certifications
15.2.6 BNP Paribas S.A.
15.2.6.1 Company Overview
15.2.6.2 Product Portfolio
15.2.6.3 Demographic Reach and Achievements
15.2.6.4 Certifications
15.2.7 Berkshire Hathaway Inc.
15.2.7.1 Company Overview
15.2.7.2 Product Portfolio
15.2.7.3 Demographic Reach and Achievements
15.2.7.4 Certifications
15.2.8 Prudential Financial Inc.
15.2.8.1 Company Overview
15.2.8.2 Product Portfolio
15.2.8.3 Demographic Reach and Achievements
15.2.8.4 Certifications
15.2.9 Assicurazioni Generali S.p.A.
15.2.9.1 Company Overview
15.2.9.2 Product Portfolio
15.2.9.3 Demographic Reach and Achievements
15.2.9.4 Certifications
15.2.10 Aditya Birla Capital Ltd.
15.2.10.1 Company Overview
15.2.10.2 Product Portfolio
15.2.10.3 Demographic Reach and Achievements
15.2.10.4 Certifications
15.2.11 Others
16 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global B2B2C Insurance Market: Key Industry Highlights, 2018 and 2028
2. Global B2B2C Insurance Historical Market: Breakup by Type (USD Billion), 2018-2023
3. Global B2B2C Insurance Market Forecast: Breakup by Type (USD Billion), 2024-2032
4. Global B2B2C Insurance Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
5. Global B2B2C Insurance Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
6. Global B2B2C Insurance Historical Market: Breakup by End Use (USD Billion), 2018-2023
7. Global B2B2C Insurance Market Forecast: Breakup by End Use (USD Billion), 2024-2032
8. Global B2B2C Insurance Historical Market: Breakup by Region (USD Billion), 2018-2023
9. Global B2B2C Insurance Market Forecast: Breakup by Region (USD Billion), 2024-2032
10. North America B2B2C Insurance Historical Market: Breakup by Country (USD Billion), 2018-2023
11. North America B2B2C Insurance Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Europe B2B2C Insurance Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Europe B2B2C Insurance Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Asia Pacific B2B2C Insurance Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Asia Pacific B2B2C Insurance Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Latin America B2B2C Insurance Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Latin America B2B2C Insurance Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Middle East and Africa B2B2C Insurance Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Middle East and Africa B2B2C Insurance Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Global B2B2C Insurance Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 3.68 billion.
The market is projected to grow at a CAGR of 5.9% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 6.05 billion by 2032.
The market is being driven by technological advancements, increasing consumer disposable income, and increasing demand for life safety and security.
The key trends supporting the market expansion include increasing customisation of B2B2C insurance, new product launches, and growing demand for convenience among customers.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Offline and online channels are the different distribution channels in the market.
The major players in the market are Japan Post Insurance Co., Ltd., China Life Insurance (Group) Company, Munich Re Group, AXA Partners Holding SA, Allianz Partners SAS, BNP Paribas S.A., Berkshire Hathaway Inc., Prudential Financial Inc., Assicurazioni Generali S.p.A., and Aditya Birla Capital Ltd. among others.
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