After the rise of bancassurance, the development of digital sales and the growth of price comparison websites, the insurance industry may now be on the verge of another major transformation in its distribution landscape.
Whilst business-to-business-to-consumer (B2B2C) distribution is not new to insurance, this new trend will accelerate in the near future, driven in particular by improved customer access from digital players.
This will mean a much larger B2B2C insurance market, a possible engine of growth and value creation. For insurers capturing this opportunity will mean building distinctive capabilities and making clear choices about positioning. The race is on to become the leading digital B2B2C insurance partner.