Italy B2B2C Insurance Market Outlook – 2026

The Italy B2B2C insurance market size was valued at $86.56 billion in 2017, and is projected to reach $150.68 billion by 2026, growing at a CAGR of 8.8% from 2022 to 2026.

The life insurance and general insurance service sectors make up the B2B2C insurance industry, which comprises of sales of B2B2C insurance services by companies, single proprietors, and partnerships. The phrase "business-to-business-to-consumer" (B2B2C) insurance refers to sale of life and general insurance goods and services through means of non-insurance intermediaries other than conventional insurance intermediaries like brokers, independent financial advisers, and agents. A direct selling of insurance to consumers is also a part of the same. 

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The primary driving factor for the B2B2C business in Italy is the rise in awareness of the unmet need for coverage, along with the expansion of B2B2C insurance companies in the country. The need for B2B2C coverage services is on an increase due to the exponential rise of many other industries, including retail, automobile industry, and other industries in Italy. The Italy B2B2C insurance market, however, is constrained in its expansion by longer underwriting processes and claim settlement. On the other hand, rise in urban populations coupled with increase in disposable income is expected to foster the growth of the Italy B2B2C market. Moreover, the rise in awareness and need for B2B2C services for protection, safety, and fidelity is anticipated to propel the market growth owing to surge in e-commerce, sales, and retail services through digital platforms. 

The report focuses on growth prospects, restraints, and trends of the Italy 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 Italy B2B2C insurance market outlook.

Segment Review

The Italy B2B2C insurance market is segmented into insurance type, application, industry vertical. By insurance type, the market is differentiated into life insurance and non-life insurance. By application, it is fragmented into individuals and Corporates/Group. By industry vertical, it is classified into travel, automotive, utilities, retail, healthcare and others.

By insurance type, the life insurance segment acquired majority of the share in the Italy B2B2C insurance market size. This is attributed to the fact that life insurance plans have lower premiums as insurance company assumes less risk since customer is only insured for a set time period. Moreover, rise in awareness among the people in the region about protection coverage by insurance drives the growth of the market. Furthermore, in Italy, life insurance policies are increasingly used as an investment by high-net-worth individuals looking to minimize estate taxes. Thus, these are the major trends for life insurance in the market.

Key players operating in the Italy B2B2C insurance market include Allianz Partners, ASSICURAZIONI GENERALI S.P.A., Aviva, Berkshire Hathaway Inc., BNP Paribas Fortis, Munich RE, Prudential Financial, Inc., Swiss Re, The Digital Insurer, and Zurich. These players have adopted various strategies to increase their market penetration and strengthen their position in the Italy B2B2C insurance industry.  

COVID-19 Impact Analysis

The COVID-19 outbreak had a negative effect on the market for Italy B2B2C insurance. Due to travel limitations, insurance distribution has been negatively impacted by the pandemic, particularly in the travel and tourism sector. Moreover, the B2B2C insurance market has been impacted by the sharp fall in aircraft traffic. The COVID-19 disaster has accelerated the ongoing trend of the creation of digital insurance platforms. Furthermore, some of the reasons anticipated to propel the Italy B2B2C insurance market during the forecast period include an increase in urban population, a rise in consumer awareness of insurance services, and an increase in disposable income.

Top Impacting Factors

Rise in Consumer Awareness About Insurance 

Presently, factors impacting the growth of the B2B2C insurance industry include rising urban population and rising disposable income. Middle-class populations in developing countries are expanding quickly and have better spending habits and expectations for value-added services. Italy is gaining demand for insurance services, which is likely to drive the Italy B2B2C insurance market, as this service is influencing them to opt for better lifestyles with financial assistance services. Additionally, increasing awareness and dependency of consumers on insurance services for overall safety, protection, and reliability of life and non-life insurance services is likely to drive the Italy B2B2C insurance market. Moreover, the growing need among industrial companies to increase their customer base and market share along with expanding their network is driving the growth of the market. Therefore, rise in consumer awareness is one of the major driving factors of the Italy B2B2C insurance market.

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Increase in Adoption of Advanced Analytics and Techniques

The increasing use of advance analytics and technology has led to the increase in the Italy B2B2C insurance market. Advanced analytics can detect and mitigate risk in the real-time that helps organizations to identify the risk swiftly. Advanced analytics also contributes to analyze and influence customer behavior. For instance, in health insurance, companies can analyze the health of a person by collecting the data from the IoT devices and wearable such as fitness tracker and then assess the risk.

Advanced analytics and techniques can be used in general insurance as well as life insurance, providing early claim prediction, increase persistency on the policies, and fraud detection. Therefore, the increase adoption of advanced analytics and techniques has been a driving factor for Italy B2B2C insurance market growth.  

Rising Demand for More Channel of Distribution

The Covid-19 pandemic has profoundly affected how people engage among themselves across various industries and geographies. As a result, this change will affect insurance distribution both in the near term, as physical distancing measures continue, and in the longer term. Many insurance companies have already taken steps to address short-term or immediate impacts of COVID-19, further, moving employees to a remote setup and expanding online customer service channels. Now, insurers are focused on the next set of challenges, which includes how to reconstruct distribution in a more remote world. Hence, building an improved and strong channel of distribution around the B2B2C insurance solutions is one of the major drivers of the Italy B2B2C insurance market share. 

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Key Benefits for Stakeholders 

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the Italy B2B2C insurance market forecast from 2017 to 2026 to identify prevailing Italy B2B2C insurance market opportunity.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the Italy B2B2C insurance market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as Italy B2B2C insurance market trends, key players, market segments, application areas, and market growth strategies. 

 Key Market Segments

• By Insurance Type
  • Life Insurance
  • Non-Life Insurance
• By Application
  • Individuals
  • Corporates/Group
• By Industry Vertical
  • Travel
  • Automotive
  • Utilities
  • Retail
  • Healthcare
  • Others

 
Key Market Players

• Swiss Re
• Munich RE
• Berkshire Hathaway Inc.
• Allianz Partners
• Prudential Financial, Inc.
• The Digital Insurer
• Zurich
• BNP Paribas Fortis
• ASSICURAZIONI GENERALI S.P.A.
• Aviva

CHAPTER 1:INTRODUCTION

1.1.Report description
1.2.Key benefits for stakeholders
1.3.Key market segments
1.4.Research methodology

1.4.1.Secondary research
1.4.2.Primary research
1.4.3.Analyst tools and models

CHAPTER 2:EXECUTIVE SUMMARY

2.1.Key findings

2.1.1.Top impacting factors
2.1.2.Top investment pockets

2.2.CXO perspective

CHAPTER 3:MARKET OVERVIEW

3.1.Market definition and scope
3.2.Key forces shaping Italy B2B2C market
3.3.Key Regulation Analysis
3.4.Market dynamics

3.4.1.Drivers

3.4.1.1.Rise in consumer awareness about insurance
3.4.1.2.Increase in adoption of advanced analytics and techniques
3.4.1.3.Rise in demand for more channel of distribution

3.4.2.Restraints

3.4.2.1.Risks associated with the B2B2C distribution channel
3.4.2.2.Risks with data protection and privacy

3.4.3.Opportunity

3.4.3.1.Technological advancements

3.5.COVID-19 impact analysis on Italy B2B2C market

3.5.1.Impact on Italy B2B2C market size
3.5.2.Change in consumer trends, preferences, and budget impact, owing to COVID-19
3.5.3.Framework for market challenges faced by Italy B2B2C providers
3.5.4.Economic impact on Italy B2B2C providers
3.5.5.Key player strategies to tackle negative impact on the industry
3.5.6.Opportunity analysis for Italy B2B2C providers

CHAPTER 4:ITALY B2B2C MARKET, BY INSURANCE TYPE

4.1.Overview
4.2.Life Insurance

4.2.1.Key market trends, growth factors, and opportunities
4.2.2.Market size and forecast

4.3.Non-Life Insurance

4.3.1.Key market trends, growth factors, and opportunities
4.3.2.Market size and forecast

CHAPTER 5:ITALY B2B2C MARKET, BY APPLICATION

5.1.Overview
5.2.Individuals

5.2.1.Key market trends, growth factors, and opportunities
5.2.2.Market size and forecast

5.3.Corporates/Group

5.3.1.Key market trends, growth factors, and opportunities
5.3.2.Market size and forecast

CHAPTER 6:ITALY B2B2C MARKET, BY INDUSTRIAL VERTICAL

6.1.Overview
6.2.Travel

6.2.1.Key market trends, growth factors, and opportunities
6.2.2.Market size and forecast

6.3.Automotive

6.3.1.Key market trends, growth factors, and opportunities
6.3.2.Market size and forecast

6.4.Utilities

6.4.1.Key market trends, growth factors, and opportunities
6.4.2.Market size and forecast

6.5.Retail

6.5.1.Key market trends, growth factors, and opportunities
6.5.2.Market size and forecast

6.6.Healthcare

6.6.1.Key market trends, growth factors, and opportunities
6.6.2.Market size and forecast

6.7.Others

6.7.1.Key market trends, growth factors and opportunities
6.7.2.Market size and forecast

CHAPTER 7:COMPETITIVE LANDSCAPE

7.1.Introduction

7.1.1.Market player positioning, 2022

7.2.Competitive dashboard

7.2.1.Top winning strategies

CHAPTER 8:COMPANY PROFILES

8.1.ALLIANZ PARTNERS

8.1.1.Company overview
8.1.2.Company snapshot
8.1.3.Operating business segments
8.1.4.Product portfolio
8.1.5.Business performance
8.1.6.Key strategic moves and developments

8.2.ASSICURAZIONI GENERALI S.P.A.

8.2.1.Company overview
8.2.2.Company snapshot
8.2.3.Operating business segments
8.2.4.Product portfolio
8.2.5.Business performance

8.3.AVIVA

8.3.1.Company overview
8.3.2.Company snapshot
8.3.3.Operating business segments
8.3.4.Product portfolio
8.3.5.Business performance

8.4.BERKSHIRE HATHAWAY INC.

8.4.1.Company overview
8.4.2.Company snapshot
8.4.3.Product portfolio
8.4.4.Business performance

8.5.BNP PARIBAS FORTIS

8.5.1.Company overview
8.5.2.Company snapshot
8.5.3.Operating business segments
8.5.4.Product portfolio
8.5.5.Business performance

8.6.MUNICH RE

8.6.1.Company overview
8.6.2.Company snapshot
8.6.3.Product portfolio
8.6.4.Business performance
8.6.5.Key strategic moves and developments

8.7.PRUDENTIAL FINANCIAL, INC.

8.7.1.Company overview
8.7.2.Company snapshot
8.7.3.Product portfolio
8.7.4.Business performance

8.8.SWISS RE

8.8.1.Company overview
8.8.2.Company snapshot
8.8.3.Operating business segments
8.8.4.Product portfolio
8.8.5.Business performance
8.8.6.Key strategic moves and developments

8.9.THE DIGITAL INSURER

8.9.1.Company overview
8.9.2.Company snapshot
8.9.3.Product portfolio

8.10.ZURICH

8.10.1.Company overview
8.10.2.Company snapshot
8.10.3.Product portfolio
8.10.4.Business performance
8.10.5.Key strategic moves and developments

LIST OF TABLES

TABLE 01.ITALY B2B2C MARKET REVENUE, BY INSURANCE TYPE, 2017-2026 ($BILLION)
TABLE 02.ITALY B2B2C MARKET REVENUE FOR LIFE INSURANCE, 2017-2026 ($BILLION)
TABLE 03.ITALY B2B2C MARKET REVENUE FOR NON-LIFE INSURANCE, 2017-2026 ($BILLION)
TABLE 04.ITALY B2B2C MARKET REVENUE, BY APPLICATION, 2017-2026 ($BILLION)
TABLE 05.ITALY B2B2C MARKET REVENUE FOR INDIVIDUALS, 2017-2026 ($BILLION)
TABLE 06.ITALY B2B2C MARKET REVENUE FOR CORPORATES/GROUP, 2017-2026 ($BILLION)
TABLE 07.ITALY B2B2C MARKET REVENUE, BY INDUSTRY VERTICAL, 2017-2026 ($BILLION)
TABLE 08.ITALY B2B2C MARKET REVENUE FOR TRAVEL, 2017-2026 ($BILLION)
TABLE 09.ITALY B2B2C MARKET REVENUE FOR AUTOMOTIVE, 2017-2026 ($BILLION)
TABLE 10.ITALY B2B2C MARKET REVENUE FOR UTILITIES, 2017-2026 ($BILLION)
TABLE 11.ITALY B2B2C MARKET REVENUE FOR RETAIL, 2017-2026 ($BILLION)
TABLE 12.ITALY B2B2C MARKET REVENUE FOR HEALTHCARE, 2017-2026 ($BILLION)
TABLE 13.ITALY B2B2C MARKET REVENUE FOR OTHERS, 2017-2026 ($BILLION)
TABLE 14.ALLIANZ: COMPANY SNAPSHOT
TABLE 15.ALLIANZ: OPERATING SEGMENTS
TABLE 16.ALLIANZ: PRODUCT PORTFOLIO
TABLE 17.ASSICURAZIONI GENERALI S.P.A: COMPANY SNAPSHOT
TABLE 18.ASSICURAZIONI GENERALI S.P.A: OPERATING SEGMENTS
TABLE 19.ASSICURAZIONI GENERALI S.P.A: PRODUCT PORTFOLIO
TABLE 20.AVIVA: COMPANY SNAPSHOT
TABLE 21.AVIVA: OPERATING SEGMENT
TABLE 22.AVIVA: PRODUCT PORTFOLIO
TABLE 23.BERKSHIRE HATHAWAY INC.: COMPANY SNAPSHOT
TABLE 24.BERKSHIRE HATHAWAY INC.: PRODUCT PORTFOLIO
TABLE 25.BNP PARIBAS FORTIS: COMPANY SNAPSHOT
TABLE 26.BNP PARIBAS FORTIS: OPERATING SEGMENTS
TABLE 27.BNP PARIBAS FORTIS: PRODUCT PORTFOLIO
TABLE 28.MUNICH RE: COMPANY SNAPSHOT
TABLE 29.MUNICH RE: PRODUCT PORTFOLIO
TABLE 30.PRUDENTIAL FINANCIAL, INC.: COMPANY SNAPSHOT
TABLE 31.PRUDENTIAL FINANCIAL, INC.: PRODUCT PORTFOLIO
TABLE 32.SWISS RE: COMPANY SNAPSHOT
TABLE 33.SWISS RE: OPERATING SEGMENTS
TABLE 34.SWISS RE: PRODUCT PORTFOLIO
TABLE 35.THE DIGITAL INSURER: COMPANY SNAPSHOT
TABLE 36.SWISS RE: PRODUCT PORTFOLIO
TABLE 37.ZURICH: COMPANY SNAPSHOT
TABLE 38.ZURICH: PRODUCT PORTFOLIO

LIST OF FIGURES

FIGURE 01.KEY MARKET SEGMENTS
FIGURE 02.ITALY B2B2C MARKET SNAPSHOT, BY SEGMENTATION, 2017–2026
FIGURE 03.ITALY B2B2C MARKET: TOP IMPACTING FACTOR
FIGURE 04.TOP INVESTMENT POCKETS
FIGURE 05.MODERATE BARGAINING POWER OF SUPPLIERS
FIGURE 06.LOW TO HIGH BARGAINING POWER OF BUYER
FIGURE 07.MODERATE THREAT OF SUBSTITUTES
FIGURE 08.MODERATELY HIGH THREAT OF NEW ENTRANTS
FIGURE 09.MODERATELY HIGH COMPETITIVE RIVALRY
FIGURE 10.MARKET DYNAMICS: ITALY B2B2C MARKET
FIGURE 11.ITALY B2B2C MARKET, BY INSURANCE TYPE, 2017-2026 ($BILLION)
FIGURE 12.ITALY B2B2C MARKET, BY APPLICATION, 2017-2026 ($BILLION)
FIGURE 13.ITALY B2B2C MARKET, BY INDUSTRY VERTICAL, 2017-2026 ($BILLION)
FIGURE 14.MARKET PLAYER POSITIONING, 2022
FIGURE 15.COMPETITIVE DASHBOARD
FIGURE 16.COMPETITIVE DASHBOARD
FIGURE 17.COMPETITIVE HEATMAP OF KEY PLAYERS
FIGURE 18.TOP WINNING STRATEGIES, BY YEAR, 2021–2022
FIGURE 19.TOP WINNING STRATEGIES, BY DEVELOPMENT, 2021–2022
FIGURE 20.TOP WINNING STRATEGIES, BY COMPANY, 2021–2022
FIGURE 21.ALLIANZ: REVENUE, 2017-2021 ($MILLION)
FIGURE 22.ALLIANZ: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 23.ASSICURAZIONI GENERALI S.P.A: REVENUE, 2017-2021 ($MILLION)
FIGURE 24.ASSICURAZIONI GENERALI S.P.A: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 25.AVIVA: NET REVENUE, 2017–2021 ($MILLION)
FIGURE 26.AVIVA: REVENUE SHARE, BY SEGMENT (2021)
FIGURE 27.BERKSHIRE HATHAWAY INC.: REVENUE, 2017–2021 ($MILLION)
FIGURE 28.BERKSHIRE HATHAWAY INC.: REVENUE SHARE, BY SEGMENT, 2021 (%)
FIGURE 29.BNP PARIBAS FORTIS: REVENUE, 2017–2021 ($MILLION)
FIGURE 30.BNP PARIBAS FORTIS: REVENUE SHARE, BY SEGMENT (2021)
FIGURE 31.BNP PARIBAS FORTIS: REVENUE SHARE, BY REGION (2021)
FIGURE 32.MUNICH RE: REVENUE, 2017–2021 ($MILLION)
FIGURE 33.PRUDENTIAL FINANCIAL, INC.: REVENUE, 2017–2021 ($MILLION)
FIGURE 34.PRUDENTIAL FINANCIAL, INC.: REVENUE SHARE, BY REGION (2021)
FIGURE 35.SWISS RE: REVENUE, 2017-2021 ($MILLION)
FIGURE 36.SWISS RE: REVENUE SHARE BY SEGMENT, 2021 (%)
FIGURE 37.ZURICH: NET REVENUE, 2017–2021 ($MILLION)