Italy B2B2C Insurance Market to Reach $150.68.0 billion, by

Wilmington, Delaware, Nov. 01, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Italy B2B2C insurance Market by Program (Financial Planning, Financial Education and Italy B2B2C Insurance Market by Insurance Type (Life Insurance and Non-Life Insurance), Application (Individuals and Corporates/Group), and Industry Vertical (Travel, Automotive, Utilities, Retail, Healthcare, and Others): Opportunity Analysis and Industry Forecast, 2022–2026”. According to the report, the Italy B2B2C insurance industry generated $86.56 billion in 2017 and is anticipated to generate $150.68 billion by 2026, witnessing a CAGR of 8.8% from 2022 to 2026.    

B2B2C insurance refers to the direct sale of insurance goods to customers as well as the sale of life insurance and non-life insurance products and services through non-insurance mediators other than traditional insurance intermediaries such as agents, independent financial advisors, and brokers.   

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Prime Determinants of Growth   

Banks and auto dealerships, two examples of conventional B2B2C insurance providers, are moving toward digital platforms to diversify their revenue sources. The developments of the B2B2C insurance industry in Italy is being aided by the surge in retail, tourist, and digital financing sectors. These factors notably contribute toward the growth of the Italy B2B2C insurance market.   

Report Coverage & Details:  

Report Coverage   Details  
Forecast Period   2022–2026 
Base Year   2017 
Market Size in 2017  $86.56 billion  
Market Size in 2026  $150.68 billion  
CAGR   8.8%  
No. of Pages in Report   132 
Segments Covered   Insurance Type, Application, Industry Vertical, and Region.  
Drivers    Rise in consumer awareness about insurance  Increase in adoption of advanced analytics and techniques  Rise in demand for more channel of distribution 
Opportunities   Technological advancements 
Restraints   Risks associated with the B2B2C distribution channel    Risks with data protection and privacy 

COVID-19 Scenario  

  • The COVID-19 outbreak had affected different segments of the economy, including insurance, and it has become a problem & an opportunity for innovation. It has highlighted some problems with the traditional model of interaction between the insurers and their customers. The Italy B2B2C insurance market was negatively affected by the rapid spread of COVID-19 virus across the globe. Insurance distribution has taken a hit during the pandemic, especially in the travel & tourism industry, owing to travel restrictions.   
  • However, as governing authorities began to lift these enforced lockdowns, the Italy B2B2C insurance market has recovered accordingly. Further, most industries across the world have been negatively impacted over the last few months. Additionally, introduction of new plans to expand the insurance industry creates opportunities for the B2B2C insurance market in Italy.   

The life insurance segment to maintain its leadership status throughout the forecast period  

Based on the insurance type, the life insurance segment held the highest market share in 2017, accounting for nearly three-fourth of the Italy B2B2C insurance market revenue and is estimated to maintain its leadership status throughout the forecast period, this was attributed to the fact that in Italy, life insurance policies are increasingly used as an investment by high-net-worth individuals looking to minimize estate taxes. However, the non-life insurance segment is projected to manifest the highest CAGR of 11.2% from 2022 to 2026, as it safeguards the business from such accidents, for which the business might have to pay a huge amount to the third party for covering the loss or damage caused by the insured business owner.   

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The corporates/group segment to maintain its leadership status throughout the forecast period   

Based on the application, the corporates/group segment held the highest market share in 2017, accounting for nearly two-third of the Italy B2B2C insurance market revenue, owing to the growing corporate culture and presence of large number of multinational companies in Italy. However, the individual segment is projected to manifest the highest CAGR of 10.8% from 2022 to 2026, as it comes with so many advantages, like paying a lump sum in case of an extended sickness and covering the insured person’s medical expenses.   

The healthcare segment to maintain its leadership status throughout the forecast period   

Based on industry vertical, the healthcare segment held the highest market share in 2017, accounting for more than two-fifths of the Italy B2B2C insurance market revenue, this is attributed to the fact that purchasing health insurance is mandatory for workers in both the public and private sectors in Italy. When a person is employed by a corporation, health insurance gives important medical benefits that they may use. However, the retail segment is projected to manifest the highest CAGR of 14.2% from 2022 to 2026. Business liability insurance helps retailers to minimize risks so that the businesses continue to operate and grow during any misfortune.  

Leading Market Players: –  

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

The report provides a detailed analysis of these key players in the Italy B2B2C insurance market. These players have adopted different strategies such as expansion, merger, and product launch to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.  

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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. 

Italy B2B2C Insurance Market Report Highlights 

AspectsDetails 

By Insurance Type 

  • Life Insurance 
  • Non-Life Insurance 

By Application 

  • Individuals 
  • Corporates/Group 

By Industry Vertical 

  • Travel 
  • Automotive 
  • Utilities 
  • Retail 
  • Healthcare 
  • Others 

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