Global B2B2C Insurance Market Size, Share, Trends & Industry Growth Analysis Report to 2030

The global B2B2C insurance market size was evaluated at $11 billion in 2022 and is slated to hit $13 billion by the end of 2030 with a CAGR of nearly 7.02% between 2023 and 2030.

Business to business to consumer insurance, often known as B2B2C insurance, is a method of distributing insurance in which an insurer works with a retailer to offer insurance to customers. Additionally, insurance agents, telecom companies, private banks, shops, and numerous other digital participants can assist in the deal of delivering B2B2C.

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🔰 Crucial Findings

• According to our research analyst's study, during the course of the forecast period (2023–2030), the worldwide B2B2C insurance market is expected to develop at a rate of approximately 7.02% yearly.

• The global B2B2C insurance industry was estimated to be worth approximately $11 billion in revenue in 2022 and is projected to grow to $13 billion by 2030.

• Due to a rise in end-user awareness of B2B2C insurance among clients, the worldwide B2B2C insurance market is expected to increase fast during the forecast timeline.

➤ Increased end-user knowledge of B2B2C insurance will fuel the global industry boom between 2023 and 2030

An increase in the number of insurance companies and a rise in consumer knowledge of insurance will drive the growth of the worldwide B2B2C insurance industry trends. A sharp rise in rivalry amongst major players in the market would propel the global market's progress. Strict government regulations governing insurance services will also encourage the market's global expansion. Increased insurance subscriptions in the developing nations of Asia and Latin America will broaden the scope of the global market's expansion in the years to come. Fast digitization and a rise in the number of people using social media platforms like Facebook, Instagram, and Pinterest will fuel the expansion of the worldwide market.

The advent of artificial intelligence (AI), telematics, and chatbots has caused a paradigm change in the technology sector, driving industry expansion worldwide. In the next years, the global market will grow due to an increase in insurance devices. Every firm has benefited greatly from strategic collaborations, and B2B2C companies are no exception. For example, Aditya Birla Health Insurance Company, a major Indian healthcare insurance provider, announced in the first quarter of 2022 that it had partnered with UCO Bank, a public sector bank in India, to distribute health insurance products through a number of UCO bank branches.

➤ If traditional insurance is available at a fair price by 2030, the growth of the global insurance market may be curtailed

The development of the worldwide B2B2C insurance market may be seriously threatened by easy access to affordable traditional insurance. In the foreseeable future, worries over data security may further impede the expansion of the worldwide industry.

➤ An increase in electric car production can indicate how quickly the worldwide market is expanding

The need for lightweight components in vehicles and the rapid expansion of electric vehicle manufacturing operations will create new growth opportunities for the worldwide B2B2C insurance market. In the next years, the growing transportation sector will also make a significant contribution to global market revenues.

➤ In the years to come, high tax rates may limit the growth of the global sector

Enforcing high taxes like the Goods and Services Tax (GST) in nations like India will drive up insurance premiums, making it extremely difficult for the B2B2C insurance sector to grow internationally.

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The Global B2B2C Insurance Market is segmented based on product, application and region

Global B2B2C Insurance Market: Product Segment Analysis

● Life Insurance

● Non-Life Insurance

Global B2B2C Insurance Market: Application Segment Analysis

● Automotive

● Retailers

● BFSI

● Travel

● Utilities

● Real Estate

The global B2B2C insurance market profiles key players such as:

● Aditya Birla General Insurance

● Edelweiss General Insurance Company Limited

● AXA SA

● BNP Paribas S.A.

● Allianz SE

● Assicurazioni Generali S.p.A.

● Berkshire Hathaway Inc.

● ICICI Lombard

● UnitedHealth Group Inc.

● Tata-AIG General Insurance Co. Ltd.

➤ Over the projected timeframe, Asia-Pacific is expected to maintain its dominant position in the worldwide B2B2C insurance industry

Over the projected period, Asia-Pacific, which generated over two-fifths of the worldwide B2B2C insurance market revenue in 2022, will be a leading region. Furthermore, an increase in the presence of clients from highly populated nations like China and India may contribute to the regional market growth. Moreover, the growing urban population and rising per capita income in Asia's emerging economies would drive the growth of the regional market.

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Due to rising customer awareness of the benefits of B2B2C insurance purchases in nations like the U.S. and Canada, the B2B2C insurance market in North America is expected to grow at the fastest rate in the coming years. Customers' needs for dependability and safety will also continue to drive regional industry trends.

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