How Big Is the B2B2C Insurance Market | Explore Growth & Insights

B2B2C Insurance Market Size Growth Rate

How Big Is the B2B2C Insurance Market?

The B2B2C insurance market is rapidly expanding as innovative distribution models reshape the way insurance is sold and accessed. This market bridges the gap between insurers, businesses, and end consumers, typically offering insurance products embedded within non-insurance types of platforms or offerings. The driving forces currently impacting the growth are increased digitalization, partnerships between insurers and intermediaries as well as the overall demand for insurance options in a seamless and accessible way.

In general, B2B2C Insurance Industry is expected to grow at exponential rate, as companies across various sectors including e-commerce, travel and fintech begin to provide insurance services or solutions to create an enhanced experience for their customers while building loyalty toward their brands. This is an indication of the vast market size and opportunity that awaits insurers willing to approach B2B2C opportunities.

Redefining Insurance Distribution: Why B2B2C is the Future of Coverage

B2B2C is not just another distribution channel, it is a new way to deliver insurance to end consumers, and it can be considered as a new selling model. In the past, consumers had to purchase insurance directly (agents) or through brokers; however, B2B2C offers consumers a way to purchase an insurance policy as part of their purchasing behaviour. Travel insurance with flight tickets or protection plans with electronic devices are two examples of this embedded insurance concept.

The B2B2C model has reduced friction in the purchasing journey to provide consumer a simpler path to purchase insurance, and more importantly, B2B2C solutions can align to the growing preference for buying in a personalized and seamless manner. The ability for B2B2C insurance to meet the delivery expectations of modern consumers sets it apart as the future of coverage, especially in a digital-first environment.

B2B2C Insurance Market Outlook to 2031: Growth, Segments & Future Potential

The B2B2C insurance market is expected to grow dramatically through 2031 influenced by technology and increased cooperation between insurers and third-parties. The major markets driving this growth will be in health insurance, travel insurance, and device protection, as each market is undergoing a complete shift in service delivery using a mixture of extensive adoption of products and some form of innovative bundling.

Insurers are channeling all the emerging technology associated with artificial intelligence, data analytics, and API enabling integrations to deliver insurance products faster and in a more targeted way. In addition to improving the delivery of insurance products, emerging economies have an increasingly accessible growth potential for B2B2C, as digital penetration grows they have an opportunity to enter a developing channel.

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