Toll Free: 1-888-928-9744
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Published: Sep, 2017 | Pages:
163 | Publisher: SNS Research
Industry: Telecommunications | Report Format: Electronic (PDF)
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 mobile operators, 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. SNS Research estimates that the global mobile phone insurance market is expected to account for $20.5 Billion in revenue by the end of 2017. The market is further expected to grow at a CAGR of approximately 10% over the next three years, eventually accounting for more than $27 Billion in revenue by the end of 2020. The ""Mobile Phone Insurance Ecosystem: 2017 - 2030 - 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 2017 through to 2030. The forecasts are segmented for 3 sales channels, 5 regions and 25 countries. The report comes with an associated Excel datasheet suite covering quantitative data from all numeric forecasts presented in the report. Topics Covered The report covers the following topics: - Mobile phone insurance ecosystem - Market drivers and barriers - Insurance policy structure, distribution channels and key trends - Case studies of mobile phone insurance initiatives - Industry roadmap and value chain - Profiles and strategies of over 80 leading ecosystem players - Strategic recommendations for ecosystem players - Market analysis and forecasts from 2017 till 2030 Forecast Segmentation Market forecasts are provided for each of the following submarkets and their categories: Sales Channel Segmentation - Mobile Operators - Device OEMs - Retailers & Others Regional Segmentation - Asia Pacific - Europe - Latin & Central America - Middle East & Africa - North America Country Level Segmentation - Argentina, Australia, Brazil, Canada, China, Colombia, France, Germany, Hong Kong, India, Israel, Italy, Japan, Mexico, Netherlands, Poland, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Taiwan, UK & USA Key Questions Answered The report provides answers to the following key questions: - How big is the mobile phone insurance opportunity? - What trends, challenges and barriers are influencing its growth? - How is the ecosystem evolving by region? - What will the market size be in 2020 and at what rate will it grow? - Which countries will see the highest percentage of growth? - Who are the key market players and what are their strategies? - What risks are typically covered in mobile phone insurance offerings? - How can insurance plans help mobile operators in reducing churn? - What strategies should mobile operators, device OEMs and insurance providers adopt to remain competitive? Key Findings The report has the following key findings: - SNS Research estimates that the global mobile phone insurance market is expected to account for $20.5 Billion in revenue by the end of 2017. The market is further expected to grow at a CAGR of approximately 10% over the next three years, eventually accounting for more than $27 Billion in revenue by the end of 2020. - In an effort to boost the uptake of their mobile phone insurance plans, mobile operators and insurance providers have extensively enhanced their offerings with a number of differentiating features such as multi-device coverage, integrated device security apps, prioritized technical support, door-to-door repair services and secure data storage for photos and videos. - To accelerate the adoption of mobile phone insurance in developing markets, mobile operators are experimenting with an array of strategies ranging from complimentary insurance schemes to bundling insurance with inexpensively priced mobile security offerings. - Many smartphone OEMs – including Apple, Samsung, HTC, Acer, Motorola Mobility and Xiaomi - already offer their own branded protection plans across multiple countries, and others are expected to follow suit. By the end of 2020, OEM branded plans will account for a market worth nearly $4.5 Billion. List of Companies Mentioned • A Wireless • Acer • AIG (American International Group) • Allianz Insurance • Allianz SE Group • Allstate Corporation • América Móvil • AmTrust Financial Services • AmTrust International Underwriters • AmTrust Mobile Solutions • Aon • Appalachian Wireless • Apple • Assurant • Asurion • ASUS (ASUSTeK Computer) • AT&T • Avast Software • AVG Technologies • Aviva • AXA • Barclays • BBVA Seguros • Best Buy • BlackBerry • BNP Paribas • BNP Paribas Cardif • Bouygues Telecom • Brightstar Corporation • BT Group • Cellebrite • CGU Insurance • Chubb • Claro • CNA Financial Corporation • Conecta Serviços • CWS (Connected World Services) • Diamond Wireless • Dixons Carphone • DT (Deutsche Telekom) • EE • Endsleigh Insurance Services • eSecuritel • Fonesure • Fortegra Financial Corporation • Freedom Mobile • Garantec • Geek Squad • Groupama Banque • Grupo MOK (MultiServicios OK) • HL Assurance • Hollard Group • Hong Leong Group • HSBC • HTC Corporation • IAG (Insurance Australia Group) • IC Frith • Ingram Micro • Inhance Technology • iQmetrix • Itaú Unibanco • Kaspersky Lab • KB Financial Group • KB Insurance • KPN • Lenovo • Liberty Mutual Insurance Group • Lifestyle Services Group • Lookout • M1 • Markerstudy • McAfee • Microsoft Corporation • Mobi PCS • Mobile Rhino (Stuckey & Company) • Mobilogy • Motorola Mobility • MPI Generali • MTN • Munich Re • NIA (New India Assurance) • Nippon Life Insurance • Nokia • NQ Mobile • NTT DoCoMo • Optus • Orange • Pacífico Seguros • Pier Insurance Managed Services • Pitzi • Protecsure • ProtectCELL • Rakuten • Risk Insure • Safeware • Salt Mobile • Samsung Electronics • SFR • Simplesurance • Singtel • SoftBank Corporation • Sony Mobile Communications • So-Sure • Spark New Zealand • SPB • Sprint Corporation • SquareTrade • StarHub • Sun Corporation • Supercover Insurance • SURE • Swisscom • Symantec Corporation • Telcel • Telefónica Group • Telefónica Insurance • Telstra • Telus • The Warranty Group • Three Ireland (Hutchison) • T-Mobile USA • Tokio Marine • Trend Micro • Verizon Communications • V-Key Solutions • Vodafone Group • Warrantech • Worth Avenue Group • Zimperium • Zurich Insurance Group
Table of Contents Chapter 1: Introduction 11 1.1 Executive Summary 11 1.2 Topics Covered 12 1.3 Forecast Segmentation 13 1.4 Key Questions Answered 14 1.5 Key Findings 15 1.6 Methodology 16 1.7 Target Audience 17 1.8 Companies & Organizations Mentioned 18 Chapter 2: An Overview of Mobile Phone Insurance 20 2.1 The Role of Insurance in Our Daily Lives 20 2.2 Why Have Mobile Phone Insurance? 21 2.3 What Risks Are Typically Covered? 22 2.3.1 Accidental, Malicious or Liquid Damage 22 2.3.2 Electrical or Mechanical Breakdown 22 2.3.3 Theft or Loss 22 2.3.4 Unauthorized Calls & Usage 22 2.3.5 Data Backup Facilities 23 2.3.6 Overseas Cover 23 2.3.7 Accessories 23 2.3.8 Others 23 2.4 Distribution & Sales Channels for Insurance Plans 23 2.4.1 Mobile Operator Branded 24 2.4.2 Device OEM Branded 24 2.4.3 Associated with Bank Accounts 24 2.4.4 Retailers & Other Direct-to-Consumer 24 2.5 Market Drivers 24 2.5.1 Growing Penetration of Smartphones 25 2.5.2 BYOD: Perfect Candidates for Insurance 25 2.5.3 Reducing Service Disruption 25 2.5.4 Proliferation of Large Screen Devices 26 2.5.5 Packaged Policies 26 2.5.6 Strong Support of Tier 1 Mobile Operators 26 2.5.7 Growth of Mobile Payments: Creating New Opportunities for Insurance 26 2.6 Market Barriers 27 2.6.1 Consumer Disbelief in Insurance 27 2.6.2 Unclear Terms & Conditions 27 2.6.3 Fraud 27 2.6.4 Slow & Unfair Claims Handling 27 2.6.5 Time Limitation to Purchase Policy 28 Chapter 3: Value Chain & Future Roadmap 29 3.1 Value Chain 29 3.1.1 Mobile Operators 29 3.1.2 Mobile Device OEMs 30 3.1.3 Banks 30 3.1.4 Retailers 30 3.1.5 Underwriters & Insurance Administrators 30 3.2 Future Roadmap: 2017 – 2030 31 3.2.1 2017 – 2020: Adoption of OEM Branded Plans & Premium Device Protection 31 3.2.2 2020 – 2025: Growing Proliferation in Developing Economies 32 3.2.3 2025 – 2030: Continued Growth with the Adoption of Connected Living Technologies 33 Chapter 4: Case Studies 34 4.1 Asurion: Replicating North American Success in Other Regional Markets 34 4.2 AT&T: Championing Flexible & Premium Mobile Protection Plans 35 4.3 Brightstar Corporation: Increasing Insurance Revenue for a Rural Carrier 36 4.4 HL Assurance: Differentiating Mobile Phone Insurance with Door-to-Door Repair Services 37 4.5 Microsoft & Samsung: Alliances with Local Insurance Regulators 38 4.6 MTN & Vodacom: Innovating Insurance Programs in Africa 39 4.7 NTT DoCoMo: Pioneering Mobile Phone Insurance in Japan 40 4.8 So-Sure: Introducing Social Insurance for Mobile Phones 41 4.9 Telefónica Insurance: A Mobile Operator Owned Insurance Company 42 4.10 Vodafone Group: Driving the Adoption of Carrier-Branded Mobile Phone Insurance Programs 43 Chapter 5: Key Market Players 44 5.1 Acer 44 5.2 AIG (American International Group) 45 5.3 Allianz Insurance 46 5.4 Allstate Corporation (SquareTrade) 47 5.5 AmTrust Financial Services 48 5.6 Aon 50 5.7 Apple 51 5.8 Assurant 52 5.9 Asurion 53 5.10 ASUS (ASUSTeK Computer) 54 5.11 AT&T 55 5.12 Avast Software 56 5.13 Aviva 57 5.14 AXA 58 5.15 BBVA Seguros 59 5.16 BlackBerry 60 5.17 BNP Paribas Cardif 61 5.18 Bouygues Telecom 62 5.19 Brightstar Corporation 63 5.20 Cellebrite (Mobilogy) 64 5.21 Chubb 65 5.22 CNA Financial Corporation 66 5.23 Conecta Serviços 67 5.24 Dixons Carphone 68 5.25 DT (Deutsche Telekom) 69 5.26 EE 70 5.27 Grupo MOK (MultiServicios OK) 71 5.28 HL Assurance 72 5.29 Hollard Group 73 5.30 HTC Corporation 74 5.31 IAG (Insurance Australia Group) 75 5.32 IC Frith 76 5.33 Ingram Micro 77 5.34 Inhance Technology 78 5.35 iQmetrix 79 5.36 Itaú Unibanco 80 5.37 Kaspersky Lab 81 5.38 KB Insurance 82 5.39 Lenovo 83 5.40 LG Electronics 84 5.41 Liberty Mutual Insurance Group 85 5.42 Lookout 86 5.43 McAfee 87 5.44 Microsoft Corporation 88 5.45 Mobile Rhino (Stuckey & Company) 89 5.46 MPI Generali 90 5.47 NIA (New India Assurance) 91 5.48 NQ Mobile 92 5.49 NTT DoCoMo 93 5.50 Orange 94 5.51 Pacífico Seguros 95 5.52 Pier Insurance Managed Services 96 5.53 Pitzi 97 5.54 Protecsure 98 5.55 ProtectCELL (Fortegra Financial Corporation) 99 5.56 Rakuten 100 5.57 Risk Insure 101 5.58 Safeware 102 5.59 Samsung Electronics 103 5.60 SFR 104 5.61 Simplesurance 105 5.62 Singtel 106 5.63 SoftBank Corporation 107 5.64 Sony Mobile Communications 108 5.65 So-Sure 109 5.66 SPB 110 5.67 Sprint Corporation 111 5.68 Supercover Insurance 112 5.69 SURE 113 5.70 Symantec Corporation 114 5.71 Telefónica Insurance 115 5.72 Telstra 116 5.73 The Warranty Group 117 5.74 Trend Micro 118 5.75 Verizon Communications 119 5.76 V-Key Solutions 120 5.77 Vodafone Group 121 5.78 Worth Avenue Group 122 5.79 Xiaomi 123 5.80 Zimperium 124 5.81 Zurich Insurance Group 125 Chapter 6: Market Analysis & Forecasts 126 6.1 Global Outlook of Mobile Phone Insurance 126 6.2 Sales Channel Segmentation 127 6.2.1 Mobile Operators 128 6.2.2 Device OEMs 128 6.2.3 Retailers & Others 129 6.3 Regional Segmentation 130 6.4 Asia Pacific 131 6.4.1 Australia 132 6.4.2 China 132 6.4.3 Hong Kong 133 6.4.4 India 133 6.4.5 Japan 134 6.4.6 Singapore 134 6.4.7 South Korea 135 6.4.8 Taiwan 135 6.4.9 Rest of Asia Pacific 136 6.5 Europe 137 6.5.1 France 138 6.5.2 Germany 138 6.5.3 Italy 139 6.5.4 Netherlands 139 6.5.5 Poland 140 6.5.6 Russia 140 6.5.7 Spain 141 6.5.8 UK 141 6.5.9 Rest of Europe 142 6.6 Latin & Central America 143 6.6.1 Argentina 144 6.6.2 Brazil 144 6.6.3 Colombia 145 6.6.4 Mexico 145 6.6.5 Rest of Latin & Central America 146 6.7 Middle East & Africa 147 6.7.1 Israel 148 6.7.2 Saudi Arabia 148 6.7.3 South Africa 149 6.7.4 Rest of the Middle East & Africa 149 6.8 North America 150 6.8.1 Canada 151 6.8.2 USA 151 Chapter 7: Conclusion & Strategic Recommendations 152 7.1 Why is the Market Poised to Grow? 152 7.2 Product Classification: Insurance vs. Protection 152 7.3 How Does Insurance Impact Mobile Operators? 153 7.4 Are Carrier Branded Plans Better Than Other Plans? 154 7.5 Are Contract Mobile Customers More Likely to Adopt Insurance? 154 7.6 How is Revenue Distributed by Sales Channels? 155 7.7 How Does the Brand of the Mobile Device Relate to the Consumer Adoption of Insurance? 156 7.8 Key Trends Regarding Consumers' Purchase of Mobile Device Insurance 156 7.9 Need for a Wider Range of Cover Options 157 7.10 What is the Average Price of Mobile Phone Insurance Plans? 157 7.11 How is Insurance Affecting Mobile Phone Designs? 159 7.12 Product Design & Governance: Key to Success 159 7.13 Mobile Operator Owned Insurance Groups: The Answer for Coordinated Insurance Offerings 160 7.14 Integrated Solutions to Drive the Market 160 7.15 Which Region Will Lead the Market? 161 7.16 Strategic Recommendations 162 7.16.1 Recommendations for Mobile Operators 162 7.16.2 Recommendations for Mobile Device OEMs 163 7.16.3 Recommendations for Retailers & Banks 163 7.16.4 Recommendations for Underwriters & Insurance Administrators 164
List of Figures Figure 1: Smartphone Installed Base by Region: 2017 - 2030 (Millions) 22 Figure 2: Mobile Phone Insurance Value Chain 30 Figure 3: Mobile Phone Insurance Industry Roadmap 32 Figure 4: Mobile Phone Claim Processing Lifecycle 41 Figure 5: Global Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 127 Figure 6: Global Mobile Phone Insurance Revenue by Sales Channel: 2017 - 2030 ($ Million) 128 Figure 7: Global Mobile Phone Insurance Revenue for Mobile Operator Plans: 2017 - 2030 ($ Million) 129 Figure 8: Global Mobile Phone Insurance Revenue for Device OEM Plans: 2017 - 2030 ($ Million) 129 Figure 9: Global Mobile Phone Insurance Revenue for Retailer & Other Plans: 2017 - 2030 ($ Million) 130 Figure 10: Global Mobile Phone Insurance Revenue by Region: 2017 - 2030 ($ Million) 131 Figure 11: Asia Pacific Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 132 Figure 12: Asia Pacific Mobile Phone Insurance Revenue by Country: 2017 - 2030 ($ Million) 132 Figure 13: Australia Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 133 Figure 14: China Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 133 Figure 15: Hong Kong Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 134 Figure 16: India Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 134 Figure 17: Japan Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 135 Figure 18: Singapore Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 135 Figure 19: South Korea Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 136 Figure 20: Taiwan Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 136 Figure 21: Rest of Asia Pacific Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 137 Figure 22: Europe Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 138 Figure 23: Europe Mobile Phone Insurance Revenue by Country: 2017 - 2030 ($ Million) 138 Figure 24: France Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 139 Figure 25: Germany Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 139 Figure 26: Italy Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 140 Figure 27: Netherlands Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 140 Figure 28: Poland Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 141 Figure 29: Russia Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 141 Figure 30: Spain Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 142 Figure 31: UK Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 142 Figure 32: Rest of Europe Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 143 Figure 33: Latin & Central America Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 144 Figure 34: Latin & Central America Mobile Phone Insurance Revenue by Country: 2017 - 2030 ($ Million) 144 Figure 35: Argentina Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 145 Figure 36: Brazil Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 145 Figure 37: Colombia Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 146 Figure 38: Mexico Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 146 Figure 39: Rest of Latin & Central America Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 147 Figure 40: Middle East & Africa Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 148 Figure 41: Middle East & Africa Mobile Phone Insurance Revenue by Country: 2017 - 2030 ($ Million) 148 Figure 42: Israel Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 149 Figure 43: Saudi Arabia Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 149 Figure 44: South Africa Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 150 Figure 45: Rest of the Middle East & Africa Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 150 Figure 46: North America Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 151 Figure 47: North America Mobile Phone Insurance Revenue by Country: 2017 - 2030 ($ Million) 151 Figure 48: Canada Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 152 Figure 49: USA Mobile Phone Insurance Revenue: 2017 - 2030 ($ Million) 152 Figure 50: Mobile Phone Insurance Revenue Share by Sales Channel: 2017 (%) 156 Figure 51: Price Comparison of Mobile Operator, OEM & Third-Party Mobile Phone Insurance Plans 159 Figure 52: Mobile Phone Insurance Revenue Share by Region: 2017 (%) 162
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