B2B2C Insurance Market By Insurance Type (Life Insurance and Non-Life Insurance) and Distribution Channel (Online and Offline): Global Opportunity Analysis and Industry Forecast, 2020-2027
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Jul 2020 |
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The global B2B2C insurance market is expected to witness substantial growth during the forecast period of 2020 to 2027. B2B2C insurance refers to selling of life insurance and non-life insurance products and services through non-insurance mediators other than conventional insurance intermediaries such as agents, independent financial advisories and brokers, as well as includes the direct selling of insurance products to consumers. B2B2C insurance sale can occur through insurance agencies, banks, auto distributors, telecom firms, service providers, retailers, e-commerce and other digital participants.
Rise in consumer awareness about latent demand for insurance and increase in insurance companies across the globe drives the growth of B2B2C insurance market. Moreover, increased competition among the key players and various strict government regulations hinder the growth of the market. Furthermore, rising adoption of insurance subscriptions among end users and high penetration of insurance in emerging countries are expected to provide enormous opportunities to the industry.
The global B2B2C insurance market is segmented on the basis of insurance type, distribution channel, and region. In terms of insurance type, it is bifurcated into life insurance and non-life insurance. Based on distribution channel, it is segmented into online and offline. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players profiled in the B2B2C insurance market analysis are AXA, Zurich Insurance Group, China Life Insurance, Berkshire Hathaway, Prudential plc, UnitedHealth Group, Munich Re Group, Assicurazioni Generali S.p.A., Japan Post Holding Co., Ltd., and Allianz SE. These companies have adopted several strategies such as product launches, partnerships, collaborations, mergers & acquisitions, and joint ventures to maintain their foothold in the global B2B2C insurance market.
The report focuses on the growth prospects, restraints, and trends of the B2B2C insurance market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the B2B2C insurance market.
Top Impacting Factors
Data Analytics in Partner Platforms
Amazon uses its understanding of consumer behavior to suggest extra features, and other various products and services that suit individual tastes. It is reported that 30% revenue is generated from the recommendation engine, which uses data footprints and analytics. The conventional way of purchasing insurance is time consuming as details need to be investigated. Using data analytics, the essence of the information required and the related channels can be analyzed.
Moreover, it helps consumer to find the best insurance plans to match their needs. For instance, Acko General Insurance recently partnered with Amazon to handle the product distribution and management of claims and refunds. This allows Acko General Insurance to promote its business through Amazon, which is projected to improve sales through data analytics.
Creating a Sustainable Business Model with Partners
Insurers tend to seek additional advantages with partners to get the most value to the business. Several financial companies and e-commerce partners, such as Amazon, Flipkart and Oliver Wyman, have offered a range of other services beyond sales. Such firms have adopted different advanced technologies such as customer analytics, lead generation and conversion capabilities, and additional services such as risk management and support for increasing their customer base. This not only helps insurers to boost sales but also improves organizational reputation.
Key Benefits of the Stakeholders:
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This study presents the analytical depiction of the global B2B2C insurance industry along with the current trends and future estimations to determine the imminent investment pockets.
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The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global B2B2C insurance market share.
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The current market is quantitatively analyzed from 2020 to 2027 to highlight the global B2B2C insurance market growth scenario.
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Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
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The report provides a detailed global B2B2C insurance market analysis based on competitive intensity and how the competition will take shape in the coming years.
Market Scope and Structure Analysis:
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Report Metric |
Details |
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Market Size Available For Years |
2020-2027 |
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Base Year Considered |
2019 |
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Forecast Period |
2020-2027 |
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Forecast Units |
Value (USD) |
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Segments Covered |
Insurance Type, Distribution Channel, and Region |
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Geographies Covered |
North America (U.S. and Canada), Europe (Germany, UK, France, and the Rest of Europe), Asia Pacific (China, Japan, India, and the Rest of Asia-Pacific), and LAMEA (Brazil, Mexico, Saudi Arabia, and the Rest of LAMEA) |
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Companies Covered |
Major players analyzed include AXA, Zurich Insurance Group, China Life Insurance, Berkshire Hathaway, Prudential plc, UnitedHealth Group, Munich Re Group, Assicurazioni Generali S.p.A., Japan Post Holding Co., Ltd., and Allianz SE |
B2B2C Insurance Market Key Segments:
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Segments |
Sub-Segments |
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Insurance Type |
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Distribution Channel |
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Questions Answered in the B2B2C Insurance Market Research Report:
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What leading market players are active in the B2B2C insurance market?
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How the current trends will influence the market in the next few years?
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What are the driving factors, restraints, and opportunities in the market?
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What are the projections for the future that will help in taking further strategic steps?
1. INTRODUCTION
1.1. Report description
1.2. Key benefits
1.3. Key market segments
1.4. Research methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tool & model
2. EXECUTIVE SUMMARY
2.1. CXO perspective
3. MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top factors impacting the market
3.2.2. Top investment pockets
3.2.3. Top winning strategies
3.3. Porter’s five force analysis
3.4. Market player positioning
3.5. Market dynamics
3.5.1. Drivers
3.5.2. Restraints
3.5.3. Opportunities
4. GLOBAL B2B2C INSURANCE MARKET, BY PRODUCT TYPE, 2016-2025 ($MILLION)
4.1. Market overview
4.2. Home Insurance
4.2.1. Key market trends
4.2.2. Key growth factors and opportunities
4.2.3. Market size and forecast
4.3. Vehicle insurance
4.3.1. Key market trends
4.3.2. Key growth factors and opportunities
4.3.3. Market size and forecast
4.4. Personal Insurance
4.4.1. Key market trends
4.4.2. Key growth factors and opportunities
4.4.3. Market size and forecast
4.5. Travel Insurance
4.5.1. Key market trends
4.5.2. Key growth factors and opportunities
4.5.3. Market size and forecast
4.6. Others
4.6.1. Key market trends
4.6.2. Key growth factors and opportunities
4.6.3. Market size and forecast
5. GLOBAL B2B2C INSURANCE MARKET, BY REGION, 2016-2025 ($MILLION)
5.1. Market overview
5.1.1.1.1. U.S.
5.1.1.1.1.1. Key market trends
5.1.1.1.1.2. Key growth factors and opportunities
5.1.1.1.1.3. Market size and forecast, by Product Type
5.1.1.1.2. Mexico
5.1.1.1.2.1. Key market trends
5.1.1.1.2.2. Key growth factors and opportunities
5.1.1.1.2.3. Market size and forecast, by Product Type
5.1.1.1.3. China
5.1.1.1.3.1. Key market trends
5.1.1.1.3.2. Key growth factors and opportunities
5.1.1.1.3.3. Market size and forecast, by Product Type
5.1.1.1.4. India
5.1.1.1.4.1. Key market trends
5.1.1.1.4.2. Key growth factors and opportunities
5.1.1.1.4.3. Market size and forecast, by Product Type
5.1.1.1.5. Brazil
5.1.1.1.5.1. Market size and forecast, by Product Type
5.1.1.1.5.2. Key market trends
5.1.1.1.5.3. Key growth factors and opportunities
5.1.1.1.6. Rest of World
5.1.1.1.6.1. Market size and forecast, by Product Type
5.1.1.1.6.2. Key market trends
5.1.1.1.6.3. Key growth factors and opportunities
6. COMPANY PROFILES
6.1. AXA
6.1.1. Company overview
6.1.2. Company snapshot
6.1.3. Business performance
6.1.4. Operating business segments
6.1.5. Key strategies and developments
6.2. Zurich Insurance Group
6.2.1. Company overview
6.2.2. Company snapshot
6.2.3. Business performance
6.2.4. Operating business segments
6.2.5. Key strategies and developments
6.3. China Life Insurance
6.3.1. Company overview
6.3.2. Company snapshot
6.3.3. Business performance
6.3.4. Operating business segments
6.3.5. Key strategies and developments
6.4. Berkshire Hathaway
6.4.1. Company overview
6.4.2. Company snapshot
6.4.3. Business performance
6.4.4. Operating business segments
6.4.5. Key strategies and developments
6.5. Prudential plc
6.5.1. Company overview
6.5.2. Company snapshot
6.5.3. Business performance
6.5.4. Operating business segments
6.5.5. Key strategies and developments
6.6. UnitedHealth Group
6.6.1. Company overview
6.6.2. Company snapshot
6.6.3. Business performance
6.6.4. Operating business segments
6.6.5. Key strategies and developments
6.7. Munich Re Group
6.7.1. Company overview
6.7.2. Company snapshot
6.7.3. Business performance
6.7.4. Operating business segments
6.7.5. Key strategies and developments
6.8. Assicurazioni Generali S.p.A.
6.8.1. Company overview
6.8.2. Company snapshot
6.8.3. Business performance
6.8.4. Operating business segments
6.8.5. Key strategies and developments
6.9. Japan Post Holding Co., Ltd.
6.9.1. Company overview
6.9.2. Company snapshot
6.9.3. Business performance
6.9.4. Operating business segments
6.9.5. Key strategies and developments
6.10. Allianz SE
6.10.1. Company overview
6.10.2. Company snapshot
6.10.3. Business performance
6.10.4. Operating business segments
6.10.5. Key strategies and developments
We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:
- Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
- Technologically sophisticated and reliable insights through well audited and veracious research methodology
- Sovereign research proceeds that present a tangible depiction of marketplace
With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.
Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, web-casts and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast
Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develops analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth and forecasts
Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:
- Chief executives and VPs of leading corporations specific to industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)
Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
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