Mobile Phone Insurance Market Growth, Trends and Forecast

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.

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Further, the report states that drawbacks in MNO partnerships will be a challenge for the market. The insurer-driven models, engagement of technical services...