Mobile insurance entails protection coverage for devices against physical damage, lost or stolen devices, and malfunctions. A mobile phone insurance ecosystem is a network or interconnected systems or an interconnected set of services that allow users to fulfil a variety of demands in one integrated experience, and includes insurance providers and customers. Ecosystem is used by insurers for providing enhanced and timely services to their customers. It also helps customers to check important information conveniently online.
The theft & loss segment in the global mobile phone insurance ecosystem market is estimated to account for majority revenue of US$ 11,103 Mn in 2017.
The US market has been anticipated to account for revenue of US$ 8,953.9 Mn in 2017, and is expected to register a lucrative CAGR during the forecast period, owing to rising costs of mobile phones and increasing cases of theft of smartphones in the country.
Key players operating in the global mobile phone insurance ecosystem market include AT&T Inc., Hong Leong Group, BlackBerry Limited, Asurion, LLC, Pier Insurance, Brightstar Device, Protection LLC., Best Buy Co., Inc., Apple Inc., American International Group, Inc., Chubb Limited, and Safeware.