The Mobile Phone Insurance Ecosystem: 2017 -2030 - Opportunities, Challenges, Strategies & Forecasts

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