Market Research Logo

Global Mobile Phone Insurance Market 2016-2020

About Mobile Phone Insurance

The mobile phone insurance refers to the insurance or coverage taken by the cell phone users looking to insure their cell phones from different kinds of damages or losses. The coverage is provided to the insured in case of losses and damages against riot, strike, malicious damage, terrorist activities, fire, theft, accident, and fortuitous circumstances. Mobile phone insurance helps evade expensive replacement costs in case of mobile phone breakdown.

Technavio’s analysts forecast the global mobile phone insurance market to grow at a CAGR of 10.47% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global mobile phone insurance market for 2016-2020. To calculate the market size, the report considers the premiums earned from mobile phone insurance and extended warranties that are sold in conjunction with the mobile phone market in the Americas, Asia Pacific (APAC), and Europe, the Middle East, and Africa (EMEA). The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Mobile Phone Insurance Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Asurion
  • Aviva
  • iQmetrix
  • NTT DOCOMO
  • ProtectCELL
Other prominent vendors
  • AT&T
  • Sprint
  • Square Trade
  • Verizon
Market driver
  • Grouping of mobile phone OEMs with local insurance regulators
  • For a full, detailed list, view our report
Market challenge
  • Non-applicability of mobile phone insurance in rural areas due to low penetration of mobile services
  • For a full, detailed list, view our report
Market trend
  • Leverage social media channels for better customer connectivity and market penetration
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Mobile Phone Insurance Market 2016-2020

Technavio recognizes the following companies as the key players in the global mobile phone insurance market: Asurion, Aviva, iQmetrix Software Development, NTT DOCOMO, and ProtectCELL.

Other Prominent Vendors in the market are: AT&T, Sprint, Square Trade, and Verizon.

Commenting on the report, an analyst from Technavio’s team said: “Leveraging social media channels for better customer connectivity and market penetration will be a major trend for market growth. Customers from different segments look for click-to-call or click-to-chat options through different portals such as smartphones or tablets. This will help top mobile phone insurance vendors to boost the quality of customer experience. Digital marketing platforms are the best way to keep customers engaged and promote mobile phone insurance products.”

According to the report, creating favorable environment to improve profitability will be a key driver for market growth. Mobile phone insurance companies are enforcing professional and disciplined underwriting practices to ensure healthy growth in emerging as well as developed markets. Such initiatives should ensure companies to operate on a sustainable basis. In addition, we expect the capital management of the mobile phone insurance market to support vendors' growth and tighten solvency capital requirements during the forecast period. In the current market scenario, the insurance policymakers play an influential role in strengthening private sector vendors by providing them with incentives and allocating sufficient resources dedicated to regulatory infrastructures.

Further, the report states that drawbacks in MNO partnerships will be a challenge for the market. The insurer-driven models, engagement of technical services providers, and MNO-driven models are prevalent in the current market scenario. It is important for the insurers to make proper strategy, thereby structuring the partnership agreement with clarity in roles and responsibilities. The insurer needs to focus on providing products that are affordable, suitable, valuable, understandable, and efficient to meet the needs of customers. Sometimes unequal power balance in the partnership may be caused due to the payment made by the MNO under the group coverage policy. Therefore, it is important for supervisors and regulators of the financial and telecommunication sector to jointly oversee MNO-driven multi-partner business models.

Companies Mentioned

Asurion, Aviva, iQmetrix Software Development, NTT DOCOMO, ProtectCELL, AT&T, Sprint, Square Trade, Verizon.

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
      • Table Countries covered for market analysis
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
    • Mobile phone insurance: Overview
      • Table Exclusions under mobile phone insurance policy
      • Table Benefits of being covered by mobile insurance
    • Mobile phone insurance transaction
      • Table Life cycle of a mobile phone insurance
  • Market landscape
    • Market overview
    • Market size and forecast
      • Table Global mobile phone insurance market 2015-2020 ($ billions)
    • Five forces analysis
      • Table Five forces analysis
  • Geographical segmentation
    • Geographical segmentation
      • Table Geographical segmentation of mobile phone insurance market 2015
      • Table Geographical segmentation of mobile phone insurance market 2020
    • Americas
      • Table Mobile phone insurance market in the Americas 2015-2020 ($ billions)
    • EMEA
      • Table Mobile phone insurance market in EMEA 2015-2020 ($ billions)
    • APAC
      • Table Mobile phone insurance market in APAC 2015-2020 ($ billions)
  • Market drivers
    • Grouping of mobile phone OEMs with local insurance regulators
    • High value proposition through client interface
    • Create favorable environment to improve profitability
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
    • Non-applicability of mobile phone insurance in rural areas due to low penetration of mobile services
    • Lack of financial awareness about mobile phone insurance
    • Drawbacks in MNO partnerships
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
    • Coverage policy to cover mobile phone technology fraud
    • Big data analytics
    • Leverage social media channels for better customer connectivity and market penetration
      • Table Factors that drive customer satisfaction
      • Table Customer connectivity
      • Table Innovations in customer services
      • Table Social media benefits to insurance firms
  • Vendor landscape
    • Competitive landscape
    • Other prominent vendors
      • Table Coverage offered by AT&T
      • Table Coverage offered by Sprint
      • Table Coverage offered by Square Trade
      • Table Coverage offered by Verizon
  • Key vendor analysis
    • Asurion
      • Table Asurion: Key takeaways
    • Aviva
      • Table Aviva: key takeaways
    • iQmetrix
      • Table iQMetrix: key takeaways
    • NTT DOCOMO
      • Table NTT DOCOMO: Key takeaways
    • ProtectCELL
      • Table ProtectCELL: Key takeaways
  • Appendix
    • List of abbreviation
  • Explore Technavio

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report