The global mobile phone insurance market size was accounted at US$ 18.67 million in 2018 and is expected to register a CAGR of 18.7% during the forecast period 2027.
A unequivocal analysis of "The Mobile Phone Insurance Market" is contained in the recently published market research report by Introspective Market Research. This document consists of the key player’s manufacturer assessments, cost accounting, development characteristics, production and analysis, price analysis, sales and market popularity of advertising merchants or distributors. A brief overview of the industries is also presented in the report which widely consists of analytical enterprise information, enterprise policies, specifications, applications, and its classifications.
Mobile Phone Insurance is if anyone's mobile phone is lost or damaged, the data on your device can be lost or stolen, causing various levels of problems, including financial damage. Today, people spend a lot of time buying smartphones, and problems with their smartphones can puncture their pockets. To overcome these problems, companies are now offering mobile insurance in India. These policies provide compensation for theft or accidental damage to all types of phones, including smartphones.
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Leading players involved in the Mobile Phone Insurance Market includes:
AIG,Apple,AXA,Asurion,Assurant,Hollard Group,Chubb (ACE),SoftBank,Allianz Insurance,AmTrust,Aviva
Need for mobile insurance in Market :
- In case of smartphone theft or robbery
- Replace or repair a lost or damaged phone within 48 hours of reporting an incident
- Protection from accidental damage
- Compensation for liquid damage to mobile phones
- Mobile phone front door transfer facility for repairs
- Cashless process for coverage
- Technical malfunctions such as ear jacks, charging ports and touch screen issues are also covered by some companies
- Some insurance companies do not offer policyholders a claim bonus when renewing their policy if no claim is reported during the previous insurance period.
The analysis also divides the Mobile Phone Insurance Market on the grounds of main Product Type:
Wireless Carrier, Mobile Phone Operators & Retailers, Other Channels
The analysis also divides the Mobile Phone Insurance Market on the Applications:
Physical Damage, Theft & Loss, Others
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This report describes some of the influencing factors in the market to determine the challenges faced by the industry and the difficult study of development opportunities in the market. In addition, increase in emphasis of owners on scalability, cost-efficiency, and time savings is contributing to the expansion of the market is been highlighted by the analysts. Furthermore, the primary and secondary research data included in the study will help provide key statistical forecasts in terms of revenue and volume. The research report is a complete package which is capable of presenting in-depth analysis of the trends and revenues of local markets compared to the global market.
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Highlights of the Market Report:
- Market dynamics, economic manufacturing, analyzing the total pricing opportunities and improvement trends.
- Key players in regional industrial and economic outline.
- An in-depth analysis of the most important market participants included in the Global Mobile Phone Insurance Market research report.
- Driving forces behind the companies currently leading the industry.
- Effectual Strategies employed by principal companies.
- Assessment of the market characteristics like, namely market drivers, challengers, inhibitors and opportunities.
- Environmental and regulatory factors critical for optimum market growth.
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