Mobile Phone Insurance Ecosystem Market: 2015 – 2020 – Opportunities, Challenges, Strategies & Forecasts

Market Research estimates that the global mobile phone insurance market is expected for account for nearly $31 Billion in revenue by the end of 2015. The market is further expected to grow at a CAGR of nearly 10% over the next five years, eventually accounting for over $48 Billion in revenue by the end of 2020.

Given the increasing prevalence of expensive household goods, cars and consumer electronics, insurance has become an unavoidable and often necessary cost in modern life. Mobile phones, and smartphones in particular are no exception to this trend.

Most major wireless carriers, insurance specialists, device OEMs, retailers and even banks now offer insurance plans that cover theft, loss, malfunctions and damage of mobile phones. Many policies now also integrate enhanced technical support and additional protection features such as data backup facilities, allowing users to securely backup their phone data online.

Market Research estimates that the global mobile phone insurance market is expected for account for nearly $31 Billion in revenue by the end of 2015. The market is further expected to grow at a CAGR of nearly 10% over the next five years, eventually accounting for over $48 Billion in revenue by the end of 2020.

The “”Mobile Phone Insurance Ecosystem: 2015 – 2020 – Opportunities, Challenges, Strategies & Forecasts”” report presents an in-depth assessment of the mobile phone insurance ecosystem including market drivers, challenges, opportunities, value chain, future roadmap, case studies, ecosystem player profiles and strategies. The report also presents market size forecasts from 2015 through to 2020. The forecasts are segmented for 6 regional and 64 country level markets.

The report comes with an associated Excel datasheet suite covering quantitative data from all numeric forecasts presented in the report.

Table of Contents   
1 Chapter 1: Introduction 10 List of Companies Mentioned
1.1 Executive Summary 10 A Wireless
1.2 Topics Covered 11 ACE European Group
1.3 Historical Revenue & Forecast Segmentation 11 Allianz Insurance
1.4 Key Questions Answered 12 AmTrust International Underwriters
1.5 Key Findings 12 Appalachian Wireless
1.6 Methodology 13 Assurant
1.7 Target Audience 14 Asurion
1.8 Companies & Organizations Mentioned 15 AT&T

2 Chapter 2: An Overview of Mobile Phone Insurance 17 AT&T Mobility
2.1 The Role of Insurance in Our Daily Lives 17 Aviva
2.2 Why Have Mobile Phone Insurance? 18 Best Buy
2.3 What Risks Are Typically Covered? 19 Brightstar Corporation
2.3.1 Accidental, Malicious or Liquid Damage 19 Carphone Warehouse
2.3.2 Electrical or Mechanical Breakdown 19 Diamond Wireless
2.3.3 Theft or Loss 19 EE
2.3.4 Unauthorized Calls & Usage 19 eSecuritel
2.3.5 Data Backup Facilities 19 First Direct
2.3.6 Overseas Cover 20 Fonesure
2.3.7 Accessories 20 Fortegra
2.3.8 Others 20 Geek Squad
2.4 Distribution Channels for Insurance Plans 20 GoCare Warranty Group
2.4.1 Wireless Carrier Branded 20 Hollard Group
2.4.2 OEM-Provided 21 HSBC Bank
2.4.3 Associated with Bank Accounts 21 iQmetrix
2.4.4 Retailers 21 Liberty Mutual Insurance Group
2.4.5 Other Direct-to-Consumer 21 Markerstudy
2.5 Market Drivers 21 Microsoft
2.5.1 Growing Penetration of Smartphones 21 Mobile Rhino (Stuckey & Company)
2.5.2 BYOD: Perfect Candidates for Insurance 22 MTN
2.5.3 Reducing Service Disruption 22 NIA (New India Assurance)
2.5.4 Proliferation of Large Screen Devices 22 Nokia
2.5.5 Packaged Policies 22 NQ Mobile
2.5.6 Strong Support of Tier 1 Wireless Carriers 23 NTT DoCoMo
2.5.7 Growth of Mobile Payments: Creating New Opportunities for Insurance 23 Pier Insurance Managed Services
2.6 Market Barriers 23 Protect Your Bubble
2.6.1 Consumer Disbelief in Insurance 23 ProtectCELL
2.6.2 Unclear Terms & Conditions 24 Safeware
2.6.3 Fraud 24 SPB
2.6.4 Slow & Unfair Claims Handling 24 Sprint
2.6.5 Time Limitation to Purchase Policy 24 SquareTrade

3 Chapter 3: Value Chain & Future Roadmap 25 Supercover Insurance
3.1 Value Chain 25 Telefónica Group
3.1.1 Wireless Carriers 25 Telefónica Insurance
3.1.2 Mobile Device OEMs 26 The Allianz Group (Allianz SE)
3.1.3 Banks 26 T-Mobile
3.1.4 Retailers 26 Verizon Communications
3.1.5 Underwriters & Insurance Administrators 26 Verizon Wireless
3.2 Future Roadmap: 2015 – 2020 27
3.2.1 2013 – 2015: The Rise of Shared Plans with Home, Travel & Bank/Card Insurance 27
3.2.2 2015 – 2017: Integration of Other Connected Devices 28
3.2.3 2017 – 2020: Growing Proliferation in Developing Economies 28

4 Chapter 4: Case Studies 29 
4.1 Telefónica Insurance: A Wireless Carrier Owned Insurance Company 29
4.2 Asurion: Dominance in North America 29
4.3 eSecuritel: Increasing Insurance Revenue for a Rural Carrier 30
4.4 MTN: Innovating Insurance Programs in Africa 30
4.5 Microsoft: Alliances with Local Insurance Regulators 31
4.6 NTT DoCoMo: Pioneering Mobile Phone Insurance in Japan 32

5 Chapter 5: Key Market Players 33 
5.1 ACE European Group 33
5.2 Allianz Insurance 33
5.3 AmTrust International Underwriters 34
5.4 Assurant 35
5.5 Asurion 36
5.6 Aviva 37
5.7 Brightstar Corporation (eSecuritel) 38
5.8 Carphone Warehouse 39
5.9 Geek Squad 40
5.10 GoCare Warranty Group 40
5.11 Hollard Group 41
5.12 iQmetrix 41
5.13 Liberty Mutual Insurance Group 42
5.14 Mobile Rhino (Stuckey & Company) 42
5.15 NIA (New India Assurance) 43
5.16 NQ Mobile 44
5.17 Pier Insurance Managed Services 45
5.18 ProtectCELL 45
5.19 Protect Your Bubble 46
5.20 SPB 47
5.21 Safeware 48
5.22 SquareTrade 48
5.23 Supercover Insurance 49
5.24 Telefónica Insurance 50

 

6 Chapter 6: Market Analysis & Forecasts 51 
6.1 Global Mobile Phone Insurance Revenue: 2015 – 2020 51
6.2 Regional Segmentation 52
6.3 Asia Pacific 53
6.3.1 Australia 54
6.3.2 China 54
6.3.3 Hong Kong 55
6.3.4 India 55
6.3.5 Indonesia 56
6.3.6 Japan 56
6.3.7 South Korea 57
6.3.8 Malaysia 57
6.3.9 New Zealand 58
6.3.10 Pakistan 58
6.3.11 Philippines 59
6.3.12 Singapore 59
6.3.13 Taiwan 60
6.3.14 Thailand 60
6.3.15 Vietnam 61
6.3.16 Rest of Asia Pacific 61
6.4 Eastern Europe 62
6.4.1 Bulgaria 63
6.4.2 Croatia 63
6.4.3 Czech Republic 64
6.4.4 Hungary 64
6.4.5 Lithuania 65
6.4.6 Poland 65
6.4.7 Romania 66
6.4.8 Russia 66
6.4.9 Slovak Republic 67
6.4.10 Ukraine 67
6.4.11 Rest of Eastern Europe 68
6.5 Latin & Central America 69
6.5.1 Argentina 70
6.5.2 Bolivia 70
6.5.3 Brazil 71
6.5.4 Chile 71
6.5.5 Colombia 72
6.5.6 Ecuador 72
6.5.7 Mexico 73
6.5.8 Paraguay 73
6.5.9 Peru 74
6.5.10 Uruguay 74
6.5.11 Venezuela 75
6.5.12 Rest of Latin & Central America 75
6.6 Middle East & Africa 76
6.6.1 Algeria 77
6.6.2 Egypt 77
6.6.3 Iran 78
6.6.4 Iraq 78
6.6.5 Israel 79
6.6.6 Kenya 79
6.6.7 Morocco 80
6.6.8 Nigeria 80
6.6.9 Saudi Arabia 81
6.6.10 South Africa 81
6.6.11 Sudan 82
6.6.12 Tanzania 82
6.6.13 Tunisia 83
6.6.14 Rest of the Middle East 83
6.6.15 Rest of Africa 84
6.7 North America 85
6.7.1 Canada 86
6.7.2 USA 86
6.8 Western Europe 87
6.8.1 Austria 88
6.8.2 Belgium 88
6.8.3 France 89
6.8.4 Germany 89
6.8.5 Greece 90
6.8.6 Ireland 90
6.8.7 Italy 91
6.8.8 Netherlands 91
6.8.9 Portugal 92
6.8.10 Spain 92
6.8.11 Sweden 93
6.8.12 Turkey 93
6.8.13 UK 94
6.8.14 Rest of Western Europe 94

7 Chapter 7: Conclusion & Strategic Recommendations 95 
7.1 Why is the Market Poised to Grow? 95
7.2 How Does Insurance Impact Wireless Carriers? 95
7.3 Are Carrier Branded Plans Better Than Shared Plans (Home, Travel & Bank Insurance)? 96
7.4 How Does the Brand of the Mobile Device Relate to the Consumer Adoption of Insurance? 96
7.5 Are Contract Mobile Customers More Likely to Adopt Insurance? 96
7.6 Key Trends Regarding Consumers’ Purchase of Mobile Device Insurance 97
7.7 Need for a Wider Range of Cover Options 97
7.8 What is the Average Price of Device Insurance? 97
7.9 How is Insuring Affecting Mobile Phone Designs? 98
7.10 Product Design & Governance: Key to Success 98
7.11 Wireless Carrier Owned Insurance Groups: The Answer for Coordinated Insurance Offerings 98
7.12 Integrated Solutions to Lead the Market 99
7.13 Strategic Recommendations 99
7.13.1 Recommendations for Wireless Carriers 99
7.13.2 Recommendations for Mobile Device OEMs 100
7.13.3 Recommendations for Retailers & Banks 100
7.13.4 Recommendations for Underwriters & Insurance Administrators 100

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