B2B2C Insurance Market Report 2025

The B2B2C insurance market size has grown strongly in recent years. It will grow from $4.27 billion in 2024 to $4.64 billion in 2025 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 rapid growth in the next few years. It will grow to $6.96 billion in 2029 at a compound annual growth rate (CAGR) of 10.7%. 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.

The growth of the automobile industry is anticipated to drive the expansion of the B2B2C insurance market in the coming years. The automotive sector comprises a wide range of businesses and organizations involved in the design, development, production, marketing, and sale of vehicles. B2B2C insurance provides coverage to protect policyholders' assets, such as automobiles, from financial losses and damage. Car insurance serves as a long-term contract, covering various damages that may result from unexpected events. For instance, according to a report from the Government of India, passenger vehicle exports increased from 662,891 to 672,105 units from April 2023 to March 2024, marking a 13.8% growth. Thus, the expansion of the automobile industry is driving the B2B2C insurance market forward.

The anticipated growth in personal income is poised to drive the expansion of the B2B2C insurance market in the foreseeable future. Personal income, encompassing the total earnings of individuals or households from all sources before tax deductions, plays a pivotal role in shaping the landscape of B2B2C insurance. It significantly influences consumers' purchasing power and their capacity to invest in comprehensive insurance coverage offered by businesses and online platforms. A noteworthy example is observed in August 2023, as reported by the Bureau of Economic Analysis, a US-based government agency, indicating a $87.6 billion increase in personal income (0.4 percent at a monthly rate) in the United States. Consequently, the upswing in personal income serves as a key driver propelling the growth of the B2B2C insurance market.

The introduction of innovative programs to expand the insurance industry is influencing the B2B2C insurance market. Leading companies in this sector are focusing on launching programs that leverage modern technologies to create advanced solutions. For example, in August 2022, FairPlay, a California-based Fairness-as-a-Service company, introduced Input Intelligence. This tool enables insurance companies to identify potential biases in their data, helping ensure that protected characteristics such as race or gender are not indirectly represented in decision-making.

Prominent players in the B2B2C insurance market are intensifying their efforts to introduce cloud-based insurance platforms, aiming to secure a competitive advantage in the industry. A cloud-based insurance platform refers to an online system or service that utilizes cloud computing infrastructure to deliver a variety of insurance-related functionalities, encompassing policy management, underwriting, claims processing, and other pertinent processes within the insurance domain. Notably, in May 2023, Lexasure Financial Group, a UK-based insurance company, unveiled LexasureCloud 1.0, an advanced B2B2C InsurTech platform operating on the cloud. This platform is strategically designed to elevate the competitiveness, growth, and profitability of insurance companies. Its primary objectives include the digitization of risk, facilitating the expansion of additional distribution channels, and providing a technologically connected pathway for partners in Asia, thereby paving the way forward in the ever-evolving landscape of the insurance industry.

In November 2023, Arthur J. Gallagher & Co., a U.S.-based insurance brokerage firm, acquired Cadence Insurance, Inc. for an undisclosed amount. This strategic acquisition is intended to bolster Gallagher's role in the B2B2C insurance market by capitalizing on Cadence Insurance's established operations and specialized services. The acquisition notably expands Gallagher's reach throughout the Southeastern U.S. and Texas, where Cadence operates 34 offices. This growth enables Gallagher to access new customer bases and reinforce its distribution channels within these regions. Cadence Insurance, Inc. is a U.S.-based insurance brokerage company specializing in commercial and personal property and casualty insurance.

Major companies operating in the B2B2C insurance market include 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.

Asia-Pacific was the largest region in the B2B2C insurance market in 2024. The regions covered in the b2b2c insurance market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the b2b2c insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Business-to-business-to-consumer (B2B2C) insurance refers to the distribution and sale of life and general insurance products and services through non-insurance intermediaries that are distinct from the traditional insurance channels involving brokers, independent financial advisors, and agents. This model also encompasses the direct sale of insurance products to consumers without intermediaries. B2B2C insurance primarily operates in providing both life insurance and general insurance services directly to consumers.

The primary categories within B2B2C insurance encompass life insurance and non-life insurance. Life insurance involves an agreement between an insurer and an insured individual, wherein the insurance company pays a specified sum to the policyholder's family in the event of the insured individual's death. These insurance products are distributed through various channels including online and offline platforms and are implemented across diverse sectors such as banking and financial institutions, automotive, utilities, retailers, telecommunications, and other industries.

The B2B2C insurance market research report is one of a series of new reports that provides B2B2C insurance market statistics, including B2B2C insurance industry global market size, regional shares, competitors with a B2B2C insurance market share, detailed B2B2C insurance market segments, market trends and opportunities, and any further data you may need to thrive in the B2B2C insurance industry. This B2B2C insurance market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The B2B2C insurance market includes revenues earned by entities by vehicle insurance, home insurance, personal insurance, travel insurance, mobile insurance & warranty extension, employee assistance programs. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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