UK Smartphone Insurance 2017Summary
"UK Smartphone Insurance 2017", report explores how smartphones are being used, by whom, and where the opportunities lie for insurers to target these individuals for cover. The report lays out the shape of the market, providing an estimate of its size and highlighting the key players in this space. Also explored is the range of coverage available for smartphones, the channels through which these are being purchased, and in what ways the market may be disrupted by new propositions.
With over 80% of the UKs adult population in the possession of a smartphone, ownership of these devices is nearing peak levels. On the other hand, insurance take-up for these often expensive, oft-used, and reasonably fragile items has a lot of catching up to do. Sensing opportunity in the market, the smartphone insurance market - which has historically been dominated by banks and home insurers - is being disrupted by fresh mobile-first propositions and specialized gadget insurers offering new, technologically-savvy policies which are particularly appealing to millenials.Scope
- Smartphone penetration is peaking, currently at about 81% among UK adults.
- Younger demographics are most likely to own smartphones and - unlike other insurance products - are most likely to take out insurance for these too.
- Banks and home insurers are providing the bulk of smartphone insurance. They tend only to cover loss, damage, and theft, however, while gadget insurers cover aspects such as data and e-wallet cover.Reasons to buy
- Size the opportunity in targeting the smartphone insurance market.
- Understand the competitive market landscape not just in terms of who the key players are within the space but in what ways their propositions differ.
- Consider the different ways in which smartphones are increasingly being used by individuals - and by which individuals - and identify opportunities arising from this.
- Take a view of the distribution landscape of smartphone insurance and build a picture of how this may change in the next few years.
Publisher Name : GlobalData