Mobile Phone Insurance Market to Grow at 10.47% CAGR to 2020 Driven by America
RnRMarketResearch.com adds Global Mobile Phone Insurance Market 2016-2020 latest research report, the analysts forecast global mobile phone insurance market to grow at a CAGR of 10.47% during the period 2016-2020.
August 1, 2016 /MarketersMedia/ —
The global mobile phone insurance market analyst says 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.
Complete report on mobile phone insurance market spread across 63 pages, analyzing 5 major companies and providing 27 data exhibits are now available at http://www.rnrmarketresearch.com/global-mobile-phone-insurance-market-2016-2020-market-report.html
According to the 2016 mobile phone insurance market 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.
The growth of mobile phone insurance market is augmented by the grouping of mobile phone OEMs with local insurance regulators. Vendors in the market are bringing enhancements in insurance offerings with data protection, recovery features, and integrated technical support during the forecast period. Mobile phone OEMs are expected to expand their distribution channels by working with local insurance players in the region. By 2020, the Americas will account for more than 60% of the overall market share and will dominate the mobile phone insurance market globally.
The increase in the value of smartphones is expected to spur an increase in the demand for mobile phone insurance, leading to the growth of the market in the Americas. Order a copy of Global Mobile Phone Insurance Market 2016-2020 report @ http://www.rnrmarketresearch.com/contacts/purchase?rname=647977
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. 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 insurance market in the Americas, Asia Pacific (APAC), and Europe, the Middle East, and Africa (EMEA).
The following companies are 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.
Further, mobile phone insurance market 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.
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