Italy B2B2C Insurance Market Expected to Reach $150.68 Billion by 2026

According to a recent report published by Allied Market Research, titled, “Italy B2B2C Insurance Market by Insurance Type, Application, and Industry Vertical: Opportunity Analysis and Industry Forecast, 2022–2026,” 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 inclusion of insurance offers in digitalization of customer services has had a huge impact on the market. In addition, Italian companies in the Italy B2B2C insurance market are using digital platforms to better understand their customers. This enhances the consumer experience and boosts collaboration effectiveness. Businesses in the B2B2C insurance sector are experimenting with a range of digital tools, including websites and mobile applications, to acquire unmatched knowledge through technological capabilities.

Furthermore, the establishment of transparency in B2B2C insurance transactions is anticipated to be significantly aided by automation. Utility, material-manufacturing, and construction businesses are paying close attention to the growth of omnichannel commerce in Italy. Companies in the B2B2C insurance industry are working with technology providers, e-commerce vendors, and local suppliers to extend their business operations in the market. For instance, in 2022, the parent firm, BNP Paribas SA, and BNP Paribas Securities Services are currently concluding a merger. The business will be able to reinforce the BNP Paribas bonding strategy as a crucial component of its integrated banking model with the aid of this integration.

By application, the corporates/group segment acquired a major share in the Italy B2B2C insurance size in 2021. This is attributed to the awareness among the employees about the group health insurance as a result of developed region which boosts the growth of the market. Furthermore, growing corporate culture and presence of large number of multinational companies in Italy is a major factor for the Italy B2B2C insurance market growth in the region.

The demand for Italy B2B2C insurance industry has increased considerably during the COVID-19 pandemic. However, introduction of new plans to expand the insurance industry created various opportunities for the Italy B2B2C insurance industry. Moreover, increase in awareness and dependency of consumers on insurance services for overall safety, protection, and reliability of life and non-life insurance services drive the growth of the B2B2C insurance market.

Key Findings of the Study

• By industry vertical, the healthcare segment led the highest Italy B2B2C insurance market share, in terms of revenue in 2017. 

• By insurance type, the non-life insurance segment is expected to exhibit the fastest growth rate during the forecast period of Italy B2B2C insurance market trends.

The key players operating in the Italy B2B2C insurance market analysis 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 industry.