Press release
Regulatory Environment is Driving the Mobile Phone Insurance Market | Apple, ASSURANT, Asurion
Mobile phone insurance is a type of insurance that covers the replacement or repair of a mobile phone in the event that it is lost, stolen, or damaged. The insurance may also cover the cost of any additional accessories that were purchased with the phone.
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Market Driver and Trends
Technology: The mobile phone insurance market is driven by the rapid pace of technological change in the mobile phone industry. Every year, new models of mobile phones are released with ever-more sophisticated features. This means that consumers are increasingly likely to upgrade their phones on a regular basis and to insure their devices against loss, theft, or damage.
Economic factors: The global economic environment is also a key driver of the mobile phone insurance market. Rising incomes and increased consumer confidence mean that people are more likely to purchase expensive items such as mobile phones. In addition, the growth of the mobile phone industry in emerging markets such as China and India is fueling the demand for insurance products.
Regulatory environment: The regulatory environment is another important driver of the mobile phone insurance market. In many countries, mobile phone insurance is compulsory for customers who take out a mobile phone contract. This is because the cost of replacing a stolen or damaged phone can be very high, and insurers are able to spread the risk across a large number of customers.
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Market Segments
By Phone Type
Budget Phones
Mid & High-End Phones
Premium Smartphones
By Sales Channel
Retail
Online
By Coverage Type
Physical Damage
Internal Component Failure
Theft & Loss Protection
Others
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By Region
North America
The U.S.
Canada
Mexico
Europe
The UK
Germany
France
Spain
Rest of Europe
The Asia Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
Latin America
The Middle East
Africa
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Key Players
Apple Inc.
ASSURANT, INC.
Asurion
AT&T Intellectual Property
Aviva
bolttech
Chubb
Digital Care sp. z o.o.
Servify,
Singtel,
U Mobile Sdn Bhd.
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Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with the highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.
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