Transparency Market Research delivers key insights on the global B2B2C insurance market. In terms of revenue, the global B2B2C insurance market is estimated to expand at a CAGR of ~9% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in the global B2B2C insurance market report.
In the report, TMR predicts that the global B2B2C insurance market would be largely driven by factors such as increasing awareness about insurance products across the globe.
In the B2B2C insurance market report, the type segment includes life insurance and non-life insurance. Non-life insurance is further bifurcated into household content insurance, building insurance, monitor vehicle liability insurance, personal liability insurance, animal owner liability insurance, accident, transport, credit insurance, extended warranty, care, global assistance, travel, private unemployment, animal insurance, and others. Based on nature of business, the market has been segmented into brick & mortar, e-Commerce, multi-channel, non-commercial, and service company. In terms of company size, the B2B2C insurance market is segmented into large enterprise and small & medium enterprise. Based on distribution channel, the market is segmented into online and offline. The B2B2C insurance market on the basis of industry is segmented into banks & financial institutions, automotive, utilities, retailers, travel, housing, lifestyle, and telecom.
Rapid growth in acceptance of insurance product services is expected to propel the growth of the B2B2C insurance market in the future. The B2B2C insurance market is widely fragmented. Large number of small, medium, and large companies operate in the market at the global and domestic level. Companies are focusing on offering innovative solutions to increase their market reach. In recent years, increasing urban population and growing disposable income are factors influencing the growth of the B2B2C insurance market.
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Developing markets are witnessing rapid growth in middle-class population with better spending propensity, expecting value added service and seamless experiences. Developing countries are gaining demand for insurance product services, which is likely to drive the B2B2C insurance market, as this service is influencing them to opt for better lifestyles and better services.
Automation is expected to play a key role in establishing transparency in B2B2C insurance transactions. Rise of the omnichannel commerce is grabbing the attention of companies in the utilities, materials manufacturing and construction industries. Companies in the B2B2C insurance market should collaborate 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.
The B2B2C insurance market is projected to reach a revenue of US$ 1.5 Trn by the end of 2030, as B2B2C insurance helps to personalize a buyer’s experience. The cost efficiency of the B2B2C model is gaining increased popularity as this model eliminates the need for commission payments and reduces operational costs.
A unique research methodology has been utilized by TMR to conduct comprehensive research on the growth of the global B2B2C Insurance market and arrive at conclusions on the future growth prospects of the market. The research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
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Secondary sources referred to by analysts during the production of the global B2B2C insurance market report include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of TMR’s study on the B2B2C insurance market as a primary source.
These primary and secondary sources provided exclusive information during interviews, which serves as a validation from B2B2C insurance market industry leaders. Access to an extensive internal repository and external proprietary databases allows this report to address specific details and questions about the global B2B2C insurance market with accuracy. The study also uses the top-down approach to assess the numbers for each segment and the bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on the future prospects of the global B2B2C insurance market more reliable and accurate.
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