Press release
B2B2C Insurance Global Market Expected to Grow $6.22 Billion at a Surprising CAGR of 9.8% By 2028
B2B2C Insurance Global Market
The Business Research Company presents an extensive market research report on the B2B2C Insurance Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The B2B2C insurance market size has grown strongly in recent years. It will grow from $3.95 billion in 2023 to $4.29 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to complexity of commercial risks, regulatory compliance requirements, globalization of business operations, industry-specific coverage needs, risk management strategies.
The B2B2C insurance market size is expected to see strong growth in the next few years. It will grow to $6.22 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to environmental and climate-related risks, business continuity planning, employee well-being programs, diversification of insurance products, personalization of coverage. Major trends in the forecast period include digital transformation in distribution channels, insurtech innovations, ecosystem partnerships, usage-based insurance models, integration with digital ecosystems.
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Key Market Players:
Major companies operating in the B2B2C insurance market report are UnitedHealth Group Inc., Berkshire Hathaway Inc., Allianz SE, Axa S.A., Japan Post Holdings Co., BNP Paribas S.A., Prudential Financial Inc., Aditya Birla Group, Munich Re Group, Swiss Reinsurance Company Ltd., Zurich Insurance Group Ltd., Porto Seguro S.A., Tata-AIG General Insurance Co. Ltd., ICICI Lombard General Insurance Company Limited, Bolttech Management Limited, Bsurance GmbH, Edelweiss General Insurance Company Limited, BridgeNet Insurance, DriveWealth LLC, ASSICURAZIONI GENERALI S.P.A., China Life Insurance Group, Alpaca VN, Inclusivity Solutions, The Digital Insurer, Wrisk Ltd., Anorak Technologies Limited, Dream Insurance, Assurity Group Inc., Bajaj Allianz Life Insurance Co. Ltd., Afficiency
Market Drivers:
The expansion of the automobile industry is expected to propel the growth of the B2B2C insurance market in the coming years. The automotive industry is made up of a diverse group of businesses and organizations that are involved in the design, development, production, marketing, and sale of automobiles. B2B2C insurance protects the policyholder's belongings and assets, such as automobiles, from financial losses and damage. Car insurance is like a long-term contract that covers the price of various damages that may arise because of unanticipated events. According to the Economist Intelligence Unit (The EIU), in 2021, the global automotive sector is expected to grow by double digits, with new car sales increasing by 15% and commercial vehicle sales increasing by 16%. Electric vehicle sales are expected to increase from 2.5 million in 2020 to 3.4 million in 2021. Therefore, the growth in the automobile industry drives the growth of the B2B2C insurance market.
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https://www.thebusinessresearchcompany.com/report/b2b2c-insurance-global-market-report
The B2B2C insurance market covered in this report is segmented -
1) By Type: Life Insurance, Non-Life Insurance
2) By Distribution Channel: Online, Offline
3) By End Use Industry: Bank And Financial Institutions, Automotive, Utilities, Retailers, Telecom, Other End Use Industries
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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