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

Published: Jan, 2015 | Pages: 101 | 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 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.

SNS 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.

Key Findings:
The report has the following key findings:
 - SNS 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
 - In an effort to boost the uptake of mobile phone insurance, wireless carriers and insurance providers have extensively enhanced their insurance offerings with the addition of data protection/recovery features and integrated technical support
 - Mobile device OEMs are keen to develop alliances with local insurance regulators to improve the sales prospects of their smartphones sold through their branded retail stores

Topics Covered:
The report covers the following topics:
 - Mobile phone insurance ecosystem
 - Market drivers and barriers
 - Insurance policy structure, distribution channels and key trends
 - Industry roadmap, value chain and case studies
 - Profiles and strategies of 24 leading ecosystem players
 - Strategic recommendations for ecosystem players
 - Market analysis and forecasts from 2015 till 2020

Historical Revenue & Forecast Segmentation:
Market forecasts are provided for the following regional and country level submarkets:
Regional Segmentation
 - Asia Pacific
 - Eastern Europe
 - Latin & Central America
 - Middle East & Africa
 - North America
 - Western Europe

Country Level Segmentation
 - Algeria, Argentina, Australia, Austria, Belgium, Bolivia, Brazil, Bulgaria, Canada, Chile, China, Colombia, Croatia, Czech Republic, Ecuador, Egypt, France, Germany, Greece, Hong Kong, Hungary, India, Indonesia, Iran, Iraq, Ireland, Israel, Italy, Japan, Kenya, Lithuania, Malaysia, Mexico, Morocco, Netherlands, New Zealand, Nigeria, Pakistan, Paraguay, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, Slovak Republic, South Africa, South Korea, Spain, Sudan, Sweden, Taiwan, Tanzania, Thailand, Tunisia, Turkey, UK, Ukraine, Uruguay, USA, Venezuela and Vietnam

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 help wireless carriers in reducing churn?
 - What strategies should wireless carriers, device OEMs and insurance providers adopt to remain competitive?

List of Companies
A Wireless
ACE European Group
Allianz Insurance
AmTrust International Underwriters
Appalachian Wireless
Assurant
Asurion
AT&T
AT&T Mobility
Aviva
Best Buy
Brightstar Corporation
Carphone Warehouse
Diamond Wireless
EE
eSecuritel
First Direct
Fonesure
Fortegra
Geek Squad
GoCare Warranty Group
Hollard Group
HSBC Bank
iQmetrix
Liberty Mutual Insurance Group
Markerstudy
Microsoft
Mobile Rhino (Stuckey & Company)
MTN
NIA (New India Assurance)
Nokia
NQ Mobile
NTT DoCoMo
Pier Insurance Managed Services
Protect Your Bubble
ProtectCELL
Safeware
SPB
Sprint
SquareTrade
Supercover Insurance
Telefónica Group
Telefónica Insurance
The Allianz Group (Allianz SE)
T-Mobile
Verizon Communications
Verizon Wireless

 Table of Contents	 
1	Chapter 1: Introduction	10
1.1	Executive Summary	10
1.2	Topics Covered	11
1.3	Historical Revenue & Forecast Segmentation	11
1.4	Key Questions Answered	12
1.5	Key Findings	12
1.6	Methodology	13
1.7	Target Audience	14
1.8	Companies & Organizations Mentioned	15

2	Chapter 2: An Overview of Mobile Phone Insurance	17
2.1	The Role of Insurance in Our Daily Lives	17
2.2	Why Have Mobile Phone Insurance?	18
2.3	What Risks Are Typically Covered?	19
2.3.1	Accidental, Malicious or Liquid Damage	19
2.3.2	Electrical or Mechanical Breakdown	19
2.3.3	Theft or Loss	19
2.3.4	Unauthorized Calls & Usage	19
2.3.5	Data Backup Facilities	19
2.3.6	Overseas Cover	20
2.3.7	Accessories	20
2.3.8	Others	20
2.4	Distribution Channels for Insurance Plans	20
2.4.1	Wireless Carrier Branded	20
2.4.2	OEM-Provided	21
2.4.3	Associated with Bank Accounts	21
2.4.4	Retailers	21
2.4.5	Other Direct-to-Consumer	21
2.5	Market Drivers	21
2.5.1	Growing Penetration of Smartphones	21
2.5.2	BYOD: Perfect Candidates for Insurance	22
2.5.3	Reducing Service Disruption	22
2.5.4	Proliferation of Large Screen Devices	22
2.5.5	Packaged Policies	22
2.5.6	Strong Support of Tier 1 Wireless Carriers	23
2.5.7	Growth of Mobile Payments: Creating New Opportunities for Insurance	23
2.6	Market Barriers	23
2.6.1	Consumer Disbelief in Insurance	23
2.6.2	Unclear Terms & Conditions	24
2.6.3	Fraud	24
2.6.4	Slow & Unfair Claims Handling	24
2.6.5	Time Limitation to Purchase Policy	24

3	Chapter 3: Value Chain & Future Roadmap	25
3.1	Value Chain	25
3.1.1	Wireless Carriers	25
3.1.2	Mobile Device OEMs	26
3.1.3	Banks	26
3.1.4	Retailers	26
3.1.5	Underwriters & Insurance Administrators	26
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

List of Figures	 
Figure 1: Smartphone Installed Base by Region: 2011 - 2020 (Millions)	18
Figure 2: Mobile Phone Insurance Value Chain	25
Figure 3: Mobile Phone Insurance Industry Roadmap	27
Figure 4: Mobile Phone Claim Processing Lifecycle	32
Figure 5: Global Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	51
Figure 6: Mobile Phone Insurance Revenue by Region: 2011 - 2020 ($ Million)	52
Figure 7: Asia Pacific Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	53
Figure 8: Asia Pacific Mobile Phone Insurance Revenue by Country: 2011 - 2020 ($ Million)	53
Figure 9: Australia Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	54
Figure 10: China Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	54
Figure 11: Hong Kong Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	55
Figure 12: India Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	55
Figure 13: Indonesia Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	56
Figure 14: Japan Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	56
Figure 15: South Korea Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	57
Figure 16: Malaysia Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	57
Figure 17: New Zealand Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	58
Figure 18: Pakistan Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	58
Figure 19: Philippines Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	59
Figure 20: Singapore Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	59
Figure 21: Taiwan Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	60
Figure 22: Thailand Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	60
Figure 23: Vietnam Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	61
Figure 24: Rest of Asia Pacific Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	61
Figure 25: Eastern Europe Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	62
Figure 26: Eastern Europe Mobile Phone Insurance Revenue by Country: 2011 - 2020 ($ Million)	62
Figure 27: Bulgaria Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	63
Figure 28: Croatia Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	63
Figure 29: Czech Republic Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	64
Figure 30: Hungary Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	64
Figure 31: Lithuania Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	65
Figure 32: Poland Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	65
Figure 33: Romania Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	66
Figure 34: Russia Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	66
Figure 35: Slovak Republic Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	67
Figure 36: Ukraine Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	67
Figure 37: Rest of Eastern Europe Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	68
Figure 38: Latin & Central America Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	69
Figure 39: Latin & Central America Mobile Phone Insurance Revenue by Country: 2011 - 2020 ($ Million)	69
Figure 40: Argentina Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	70
Figure 41: Bolivia Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	70
Figure 42: Brazil Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	71
Figure 43: Chile Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	71
Figure 44: Colombia Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	72
Figure 45: Ecuador Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	72
Figure 46: Mexico Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	73
Figure 47: Paraguay Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	73
Figure 48: Peru Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	74
Figure 49: Uruguay Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	74
Figure 50: Venezuela Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	75
Figure 51: Rest of Latin & Central America Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	75
Figure 52: Middle East & Africa Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	76
Figure 53: Middle East & Africa Mobile Phone Insurance Revenue by Country: 2011 - 2020 ($ Million)	76
Figure 54: Algeria Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	77
Figure 55: Egypt Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	77
Figure 56: Iran Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	78
Figure 57: Iraq Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	78
Figure 58: Israel Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	79
Figure 59: Kenya Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	79
Figure 60: Morocco Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	80
Figure 61: Nigeria Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	80
Figure 62: Saudi Arabia Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	81
Figure 63: South Africa Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	81
Figure 64: Sudan Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	82
Figure 65: Tanzania Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	82
Figure 66: Tunisia Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	83
Figure 67: Rest of the Middle East Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	83
Figure 68: Rest of Africa Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	84
Figure 69: North America Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	85
Figure 70: North America Mobile Phone Insurance Revenue by Country: 2011 - 2020 ($ Million)	85
Figure 71: Canada Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	86
Figure 72: USA Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	86
Figure 73: Western Europe Mobile Phone Insurance Revenue: 2011 - 2020 ($ Million)	87
Figure 74: Western Europe Mobile Phone Insurance Revenue by Country: 2011 - 2020 ($ Million)	87
Figure 75: Austria Mobile Phone Insurance Revenue by Country: 2011 - 2020 ($ Million)	88
Figure 76: Belgium Mobile Phone Insurance Revenue by Country: 2011 - 2020 ($ Million)	88
Figure 77: France Mobile Phone Insurance Revenue by Country: 2011 - 2020 ($ Million)	89
Figure 78: Germany Mobile Phone Insurance Revenue by Country: 2011 - 2020 ($ Million)	89
Figure 79: Greece Mobile Phone Insurance Revenue by Country: 2011 - 2020 ($ Million)	90
Figure 80: Ireland Mobile Phone Insurance Revenue by Country: 2011 - 2020 ($ Million)	90
Figure 81: Italy Mobile Phone Insurance Revenue by Country: 2011 - 2020 ($ Million)	91
Figure 82: Netherlands Mobile Phone Insurance Revenue by Country: 2011 - 2020 ($ Million)	91
Figure 83: Portugal Mobile Phone Insurance Revenue by Country: 2011 - 2020 ($ Million)	92
Figure 84: Spain Mobile Phone Insurance Revenue by Country: 2011 - 2020 ($ Million)	92
Figure 85: Sweden Mobile Phone Insurance Revenue by Country: 2011 - 2020 ($ Million)	93
Figure 86: Turkey Mobile Phone Insurance Revenue by Country: 2011 - 2020 ($ Million)	93
Figure 87: UK Mobile Phone Insurance Revenue by Country: 2011 - 2020 ($ Million)	94
Figure 88: Rest of Western Europe Mobile Phone Insurance Revenue by Country: 2011 - 2020 ($ Million)	94