B2B2C Insurance Market

1. We use cookies for a better user experience. Read our Privacy Policy I Agree Search report Keywords Home / Consumer Goods / Household / B2B2C Insurance Market B2B2C Insurance Market Rep Id : TMRGL79708 B2B2C Insurance Market (Type: Life Insurance and Non-life Insurance [Health Insurance, Home Insurance, Vehicle Insurance, Personal Insurance, Accident Insurance, and Others]; Geographical Space: National, Multi-country, March 2022 Regional, and Global; Enterprise Size: Large Enterprise and Small & Medium Enterprise; Application: Individuals and Consumer Goods Corporates; End-use Industry: Banks & Financial Institutions, Automotive, Utilities, Retailers, Travel, Housing, and 159 Pages Others; Nature of Business: Brick & Mortar, E-commerce & Digital Platforms, Multi-channel, Non-commercial, and Service Company; and Distribution Channel: Online and Offline) - Global Industry Analysis, Size, Share, Growth, Request FREE Sample Trends, and Forecast, 2021-2031 Report Preview Table of Content Transparency Plus Select License Type B2B2C Insurance Market Outlook 2031 Single User license $5795 The global B2B2C insurance market was valued at US$ 663.9 Bn in 2020 Multi-User license $8795 It is estimated to expand at a CAGR of 9.7% from 2021 to 2031 The global B2B2C insurance market is expected to surpass the value of US$1.8 Trn by the Corporate license $11795 end of 2031 Buy Now Analysts’ Viewpoint Safe and Secure SSL Encrypted Companies in the B2B2C insurance market are reviving their businesses by increasing their focus on Get A Special pricing for start-ups and universities. digital levers such as eCommerce and mobile apps during the COVID-19 outbreak. Artificial Intelligence and advanced analytics are delivering increased transparency in business activities. The market is progressing at an exponential rate; however, there is a need for distributors and customers Request Discount who are well-versed with omnichannel platforms. Hence, companies should increase their services

2. via offline and online customer relationship management to broaden their business streams among non-insurance experts. Next-gen commerce clouds and partnership network rewiring are catering to - Need More Info? - massive additions to bottom lines. Companies should tap into business opportunities in materials manufacturing and utilities industries to bolster market growth. Enquiry Before Buying Artificial Intelligence to Boost B2B2C Insurance Market Traditional B2B2C insurance providers such as banks and car dealers are shifting toward digital Request Methodology platforms to broaden their revenue streams. The burgeoning growth of retail, tourism, and digital lending industries is contributing toward the expansion of the global B2B2C insurance market. Ask References However, companies are facing analytics and data management issues, since their partners are reluctant to share the necessary data with insurance providers. This issue can be resolved with Free Customization artificial intelligence (AI) and advanced analytics in order to keep business processes transparent. AI can be used to process the huge amount of consumer data in order to create personal information based on personal and behavioral habits. The AI is being highly publicized to benefit entire customer lifecycle and is contributing toward revenue to cost reduction and fraud - Want to customize this report? - management in the B2B2C insurance market. Market players are using AI to improve the claims of We employ Market Analysis, Benchmarking, Corporate Intelligence, and Technological understand specific requirements and customize report with a quick turnaround time in a dynamic business environment. conversion cycle. Accessing data with the help of AI offers speed, performance, and accuracy. Intelligence to Request a sample to get extensive insights into the B2B2C Insurance Market Digitalization in B2B2C Insurance Generate Value-grab Opportunities We offer 100% Free Customisation at the time of purchase The market is undergoing a significant change with the integration of insurance propositions into digital customer journeys. Digital platforms are helping companies in the B2B2C insurance market to gain deep customer understanding. This results in enhancement of customer journey and Connect To Analyst improves efficiency in partnerships. Companies in the B2B2C insurance market are experimenting with various digital levers such as mobile apps and websites to gain unparalleled insight via digital capabilities. - Trusted Partners - There is a need to digitize the sale of insurance products such as extending the warranty and offering mobile phone insurance, since eCommerce is projected to take off in the upcoming months. The pre-integration of insurance products on eCommerce platforms and travel sites is

3. anticipated to bolster market growth. Providing telephonic support to non-insurance experts helps Quick Contact 866-552-3453 to increase distribution of B2B2C insurance. +1-518-618-1030 To understand how our report can bring difference to your business strategy, Ask for a brochure Contact by email Increase in Adoption of B2B2C Model Owing to Cost Efficiency in Operations Automation is expected to play a key role in establishing transparency in B2B2C insurance Why trust Us? transactions. The rise of the omnichannel commerce is grabbing the attention of companies in utilities, materials manufacturing, and construction industries. Companies in the B2B2C insurance 5 Million+ Market Data market should collaborate with technology providers, eCommerce vendors and local suppliers to scale their business activities. As such, there is an apparent demand for distributors and consumers who are acutely familiar with omnichannel models. B2B2C insurance helps to personalize a buyer’s experience. The cost efficiency of the B2B2C model is gaining increased - Related Reports - popularity, as this model eliminates the need of commission payments and reduces operational Sheet Face Mask Market costs. Electronic Equipment Repair Service Market Stuck in a neck-to-neck competition with other brands? Request a custom report on B2B2C Glass Tableware Market Insurance Market Smart Card Market Impact of COVID-19 Pandemic on B2B2C Insurance Market Licensed Sports Merchandise Market The global B2B2C insurance market is harshly affected by the rapid spread of COVID-19 virus across the globe. Insurance distribution has taken a hit during the pandemic, especially in the travel & tourism industry, owing to travel restrictions. Moreover, significant decline in airline traffic has also affected the business of B2B2C insurance. Non-essential retail businesses have caused a major impediment in the growth of the B2B2C insurance market. The COVID-19 crisis has had a significant impact on the B2B2C insurance market. Economic shutdowns in the automotive industry have contributed toward disruptions in global trade activities. Due to a drop in car sales, B2B2C insurance distributors have suffered heavy revenue losses. However, insurance providers are predicting a surge in the demand for goods & services in the upcoming years. As such, the COVID-19 crisis has accelerated the development of digital insurance platforms, which is a continuing trend. Growth in urban population, rise in awareness

4. about insurance services in consumers, and growth in disposable income are some of the factors expected to accelerate the global B2B2C insurance market during the forecast period. B2B2C Insurance Market: Overview According to Transparency Market Research’s latest research report on the global B2B2C insurance market for the historical period 2017–2019, 2020 is the actual year, and the forecast period 2021–2031, increasing urban population and growing disposable income are factors, along with increasing awareness and dependency of consumers on insurance services for overall safety, protection, and reliability of life and non-life insurance services, which are expected to boost the global B2B2C insurance market during the forecast period Growing Income Levels of Consumers, Rising Adoption of Technical Advancement, and Positive Changes in Automotive Industry: Key Drivers of B2B2C Insurance Market Nowadays, increasing urban population and growing disposable income are factors influencing the expansion of the B2B2C insurance market. Developing markets are witnessing rapid growth in middle-class populations with better spending propensity, expecting value-added services. Developing countries are gaining demand for insurance services, which is likely to drive the B2B2C insurance market, as this service is influencing them to opt for better lifestyles with financial assistance services. Increasing awareness and dependency of consumers on insurance services for overall safety, protection, and reliability of life and non-life insurance services is likely to drive the B2B2C insurance market The automotive industry is undoubtedly undergoing changes, which is expected to improve car safety, change vehicle ownership models, and increase asset consumption, all of which have an impact on the car insurance industry. They will be able to maintain or increase market share, have more customer retention, and perhaps most importantly, have the data and information needed to make informed decisions. This will help B2B2C insurers to strengthen their position in the market. Auto insurance can be benefitted by the adoption of InsurTech. Telematics offers more than only access to high-risk teams over and under a certain age. It can reward all policymakers with lower premiums, if they are willing to reduce the risk by correcting their behavior behind

5. the wheel. The most advanced InsurTech platforms are developed which are expected to adjust the risk-and premium-as the insured person drives. This is expected to increase the demand for auto insurance in the near future worldwide. Recent technology used in B2B2C insurance includes Blockchain, cloud technology, social media, automation and robotics, artificial intelligence and machine learning, micro devices and APIs, Internet of Things and wearables, and master data management. Recent technology has been developed by Assicurazioni Generali S.p.A. an Italian insurer firm, which has committed to invest US$ 1.2 Bn in investment in a range of strategic innovations and technology initiatives. Consumers are always looking for personal convenience, especially when buying something as important as P&C insurance. AI gives insurers the ability to create these unique items, to meet the high-speed needs of modern consumers. The key is to use of AI skills to utilize the huge amounts of consumer data available to create personal information based on personal and behavioral habits. Additionally, AI insurance providers can improve the claims conversion cycle and fundamentally change the writing process. AI also enables insurers to access data faster and can lead to more accurate reporting in the short term. Introduction of new plans to expand the insurance industry creates opportunities for the B2B2C insurance market. Major companies working in the B2B2C insurance sector are focused on introducing new solutions for innovation using new technologies. In the global B2B2C insurance market, the offline segment is expected to expand at a sustainable growth rate since a major proportion of products are sold through financial services, brick & motor stores, and other tradition channels across the globe. Although the online sale of B2B2C insurance is comparatively very small compared to offline sale, the online segment is expanding at a rapid pace owing to the rising popularity of mobile-based insurance solutions among consumers along with innovative services and digital support, which is convenient for users. Numerous players across the globe are promoting their own insurance service products through online channels to fulfill the requirements of users, which is expected to drive the B2B2C insurance market

6. Automation is expected to play a key role in establishing transparency in B2B2C insurance transactions. Rise of omnichannel commerce is gaining the attention of companies in utilities, materials manufacturing, and construction industries. Companies in the B2B2C insurance market are collaborating with technology providers, e-commerce vendors, and local suppliers to scale their business activities. As such, there is an apparent demand for distributors and consumers who are acutely familiar with omnichannel models. This is expected to help the B2B2C insurance market to grow in the foreseeable future. B2B2C Insurance Market Affected by Current Economic Turmoil, Stringent Government Regulations, and COVID-19 The value chain of the B2B2C insurance market comprises insurer, insurance type, business model, comprehensive distribution channels, and industry. As per the current scenario, government officials have informed all insurers about the need for smooth functioning of financial services. The worldwide lockdown made it difficult for issuers to offer smooth services during the main lockdown period. Premiums have reduced due to reduced economic activity but are expected to recover. Profits have been significantly reduced because more claims are being paid out than premiums collected. Budgets of companies have also increased due to more spending on social responsibility to help governments fight the pandemic. In addition, limited workforce on the corporate floor has impacted core operations of the B2B2C insurance industry, as governments mandated the importance of maintaining social distancing. This may have impacted the overall operation of the industry, along with the threat associated with cybersecurity, and maintaining the workforce and collaborative partners. Stringent laws and regulations by state and federal agencies, along with various associations are acting as a barrier for the overall operation of the market. Laws associated with insurance services, cybersecurity, and data privacy that require additional certification, license, digital security, and technical support may lead to barriers to the growth of the market. Multinational players active in different geographies need to follow the laws associated with foreign players, which is challenging while penetrating a specific country.

7. In addition, key laws related to partnerships among different players, vendors, and service providers impacting the overall operation of the business, may hamper the growth of the market. These are the challenges impacting the growth of the B2B2C insurance market. B2B2C Insurance Market: Competition Landscape Detailed profiles of providers of B2B2C insurance have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies Key players operating in the global B2B2C insurance market are AXA SA Allianz SE Assicurazioni Generali S.p.A. Berkshire Hathaway Inc. Berkshire Hathaway Inc. China Life Insurance (Group) Company Japan Post Holdings Co., Ltd Prudential plc UnitedHealth Group Inc. BNP Paribas S.A. Munich Re Group Aviva Group Legal and General, among others B2B2C Insurance Market: Key Developments & Strategies Some key developments and strategies adopted by manufacturers in the global B2B2C insurance market are highlighted below: In 2022, BNP Paribas Securities Services is in the process of finalizing a merger with the parent company BNP Paribas SA. The current merger will take place on October 1, 2022. This integration will help the company in strengthening the BNP Paribas Bonding Strategy as an integral part of its integrated banking model. With the aim of improving

8. customer experience, BNP Paribas will provide customers with flexible offerings with simple documentation and a wide and consistent list of products. On November 30, 2021, Allianz acquired Aviva Group operations in Poland and Lithuania for US$ 2.9 Bn. The transaction includes Aviva's health and non-life insurance business and its pension and asset management businesses. Under the acquisition deal, Allianz will also acquire a 51% stake in Aviva’s life and a non-life bancassurance merger with Santander Bank Polska. The transaction also includes the operation of Aviva's non-Life insurance segment in Lithuania. With this acquisition, Allianz is expected to strengthen its foothold in European markets. In the main Polish market, Allianz becomes the fifth largest insurer and the second largest player in the life insurance category, according to the written premiums. B2B2C Insurance Market Snapshot Attribute Detail Market Size Value in 2020 US$ 663.9 Bn (Base Year) Market Forecast US$ 1,808.8 Bn Value in 2031 Growth Rate 9.7% (CAGR) Forecast 2021-2031 Period

9. Quantitative US$ Bn for Value Units Global qualitative analysis includes drivers, restraints, opportunities, key trends, upcoming key trends, Porter’s Five Forces analysis, value chain Market analysis, SWOT analysis, technology analysis, regulatory analysis, etc. Analysis Furthermore, at the regional level, qualitative analysis includes key trends, price trends, and key supplier analysis. Market Player – Competition Dashboard and Revenue Share Analysis 2020 Competition Company Profiles (Details – Company Overview, Sales Landscape Area/Geographical Presence, Revenue, COVID-19 Response, Strategy & Business Overview) North America Europe Regions Asia Pacific Covered MEA South America Market Type Segmentation Life Insurance Non-life Insurance Health Insurance Home Insurance Vehicle Insurance Personal Insurance

10. Accident Insurance Others (Transport, Credit insurance etc.) Geographical Space National Multi-country Regional Global Enterprise Size Large Enterprise Small & Medium Enterprise Application Individuals Corporates End-use Industry Banks & Financial Institutions Automotive Utilities Retailers Travel Housing Others (Lifestyle, Telecom etc.) Nature of Business Brick & Mortar E-commerce & Digital Platforms Multi-channel Non-commercial Service Company Distribution Channel Online

11. Offline Allianz ASSICURAZIONI GENERALI S.P.A. AXA Berkshire Hathaway Inc. China Life Insurance (Group) Company. Companies Japan Post Holdings Co., Ltd. Profiled Munich Re Group Prudential UnitedHealth Group. BNP Paribas S.A. Munich Re Group Legal and General Customization Available upon Request Scope Pricing Available upon Request B2B2C Insurance Market – Segmentation The report on the global B2B2C insurance market provides information on the basis of type, enterprise size, geographical space, end-use industry, nature of business, application, distribution channel, and region. Type Life Insurance Non-life Insurance

12. Health Insurance Home Insurance Vehicle Insurance Personal Insurance Accident Insurance Others National Multi-Country Geographical Space Regional Banks & Financial Institutions Automotive Utilities Retailers End-use Industry Travel Housing Others (Lifestyle, Telecom etc.) Large Enterprise Enterprise Size Small & Medium Enterprise Online Distribution Channel Offline Nature of Business Brick & Mortar E-Commerce Multi-Channel

13. Non-Commercial Service Company Multi-channel Individuals Application Corporates North America U.S. Canada Rest of North America Europe U.K. Germany France Rest of Europe Asia Pacific China Region India Japan Rest of Asia Pacific Middle East & Africa GCC Countries South Africa Rest of Middle East & Africa South America Brazil Rest of South America

14. The study discusses the underlying trends and the impact of various factors that are driving the global B2B2C insurance market, along with their influence on the evolution of the market. The study also offers Porter’s Five Forces analysis, value chain analysis, technology analysis, price trend analysis, and SWOT analysis of the global B2B2C insurance market in order to elaborate crucial growth tactics and opportunities for market players. Get Free Sample Interested in this report? Get a FREE sample now! *Get Sample Report (PDF) sent to your email within minutes - Help - - Follow Us - Terms Of Use Customer FAQ How To Order Privacy Policy Sitemap U.S Sales Office Corporate Headquarter Reach Us +1-518-618-1030 State Tower, 90 State Street, Suite 700, Albany NY - 12207, United States Downtown, 1000 N. West Street, Suite 1200, Wilmington, Delaware 19801 USA 866-552-3453 (US-Canada Toll Free) sales@transparencymarketresearch.com Trust Online Copyright © Transparency Market Research, Inc. All Rights reserved PDFmyURL.com - convert URLs, web pages or even full websites to PDF online. Easy API for developers!