Consumer Approaches to Mobile Gadget and Phone Insurance ... · Magazine Luiza Pontofrio Ricardo...

Mobile Metrics: Consumer Approaches to Mobile Gadget and Phone

Insurance and Extended Warranties in Selected Global Markets

Web: www.finaccord.com. E-mail: [email protected]© Finaccord, 2018 1

Mobile Metrics:Consumer Approaches to Mobile Gadget

and Phone Insurance and Extended

Warranties in Selected Global Markets

Series Prospectus

June 2018

http://www.finaccord.com/

mailto:[email protected]




Prospectus contents

What is the research?

Which titles are available?

What is the rationale?

What methodology has been used?

For which manufacturers, retailers and mobile network operators are take-up rates split out?

What is the report structure?

What are the key features of the research?

How can the research be used?

Who can use the research?

What are some of the key findings?

What is the cost and format?

How can the research be purchased?

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What is the research?

Finaccord’s Mobile Metrics series of reports offers detailed and unique insights into the behaviour of consumers in

the context of mobile gadget and phone insurance and extended warranties. Based on a primary survey of over

12,000 consumers in Australia, Brazil, Canada, China, France, Germany, Italy, Spain, the UK and the US, with the

latest results (for 2017) compared with the previous ones (for 2014) where relevant, the research provides valuable

data describing the extent to which they acquire insurance or extended warranty cover for mobile gadgets and

phones plus how take-up rates vary according to a series of key variables. Mobile devices in scope include tablets,

laptops, cameras with no telephony function and wearables (i.e. gadgets) as well as mobile phones.

These variables include the type of cover acquired (i.e. a stand-alone policy or cover packaged with a banking

product or household insurance), the characteristics of the respondent (i.e. gender, age and annual household

income), the price of the underlying mobile device, the manufacturer and retailer of the underlying mobile device,

and the mobile network operator (in the case of mobile phone insurance and extended warranties).

Moreover, for both stand-alone mobile gadget and phone insurance and extended warranties, the research also

quantifies the distribution channels and interfaces used by consumers in each country to take out these forms of

cover, states the point in time that the cover was bought (i.e. at the same time as the underlying mobile device was

acquired or at a later point) and ascertains whether sales were prompted or not and, if so, the type of prompt that

generated the sale (e.g. web chat). Finally, claims frequency data is provided, differentiating between claims made

on stand-alone policies and ones associated with packaged cover, and reasons for claims (e.g. accidental damage,

loss, technical fault, theft, viral attack) are analysed for all policy types.






Which titles are available?

The Mobile Metrics series is composed of 11 separate publications, namely

• an overview study providing comparisons for the metrics gathered across all ten countries as

well as the results for each country;

• and ten country-specific titles providing the results for the investigation into mobile gadget and

phone insurance and extended warranties for a single country.

The titles in question are as follows:

Mobile Metrics: Consumer Approaches to Mobile Gadget and Phone Insurance and Extended Warranties in Selected Global Markets

Mobile Metrics: Consumer Approaches to Mobile Gadget and Phone Insurance and Extended Warranties in Australia

Mobile Metrics: Consumer Approaches to Mobile Gadget and Phone Insurance and Extended Warranties in Brazil

Mobile Metrics: Consumer Approaches to Mobile Gadget and Phone Insurance and Extended Warranties in Canada

Mobile Metrics: Consumer Approaches to Mobile Gadget and Phone Insurance and Extended Warranties in China

Mobile Metrics: Consumer Approaches to Mobile Gadget and Phone Insurance and Extended Warranties in France

Mobile Metrics: Consumer Approaches to Mobile Gadget and Phone Insurance and Extended Warranties in Germany

Mobile Metrics: Consumer Approaches to Mobile Gadget and Phone Insurance and Extended Warranties in Italy

Mobile Metrics: Consumer Approaches to Mobile Gadget and Phone Insurance and Extended Warranties in Spain

Mobile Metrics: Consumer Approaches to Mobile Gadget and Phone Insurance and Extended Warranties in the UK

Mobile Metrics: Consumer Approaches to Mobile Gadget and Phone Insurance and Extended Warranties in the USA






What is the rationale?

Finaccord has updated its Mobile Metrics series of reports in order to fill the gap for reliable data

concerning consumer behaviour in the evolving international market for mobile gadget and phone

insurance and extended warranties. There is little published information providing detailed insights

into consumer approaches to mobile gadget and phone cover in spite of the fact that ownership of

mobile devices has reached near-universal levels and the fact that this type of cover is now sold by

a majority of retailers and many manufacturers, as well as by a variety of other distributors.

The market for mobile gadget and phone cover is of fundamental importance to mobile network

operators plus both mobile device manufacturers and retailers, as well as the insurance providers

with which they work. In fact, maximising the results from insurance and extended warranty

programs offers the potential for these distributors to enhance significantly the margins that they

achieve from selling the underlying mobile devices. Meanwhile, insurance and extended warranty

companies can potentially benefit from attractive underwriting returns from this type of policy.

As such, the titles in the Mobile Metrics series are designed to allow mobile network operators,

mobile device manufacturers and retailers, insurance and extended warranty companies, and other

actual or potential distributors, such as banks and brokers, to benchmark their performance in this

arena.






What methodology has been used?

The research for this study, which covers over 12,000 consumers across ten countries, was carried

out the second and third quarters of 2017 using the online consumer research panel of mo’web

research (www.mowebresearch.com). 1,000 or more respondents were surveyed in each of

Australia, Canada, France, Germany, Italy, Spain and the UK, over 1,500 in Brazil, and around

2,000 in each of China and the US. In all cases, quotas were set in order to ensure representative

survey samples by gender, age, annual household income and geographical location of

respondents. The specific composition of each country sample can be obtained from Finaccord if

required.

Note that for Australia, Canada, France, Germany, Italy, Spain, the UK and the US, it is possible to

compare the latest results with previous research carried out in 2014.



http://www.mowebresearch.com/



Web: www.finaccord.com. E-mail: [email protected]© Finaccord, 20187

For which manufacturers, retailers and mobile

network operators are take-up rates split out?

AUSTRALIA

Acer

Apple

Asus

Dell

HP

Huawei

Lenovo

Samsung

Apple Store

Harvey Norman

JB Hi-Fi

Kogan

Officeworks

Amaysim

Optus

Telstra

Virgin Mobile

Vodafone

CANADA

Acer

Apple

Asus

Dell

HP

LG

Samsung

Amazon

Apple Store

Best Buy

Costco

Staples

The Source

Walmart

Bell / Bell MTS

Fido

Koodo Mobile

Rogers Wireless

TELUS Mobility

Vidéotron Mobile

Virgin Mobile

FRANCE

Acer

Apple

Asus

HP

Lenovo

Nokia

Samsung

Sony

Amazon

Apple Store

Auchan

Boulanger

Carrefour / Rue du Commerce

Cdiscount

Darty / Mister Good Deal

Fnac

Bouygues Telecom

Free Mobile

Orange

SFR

Note 1: take-up rates are for one or both of mobile gadget cover and mobile phone cover, depending upon the organisation in

question.

Note 2: other manufacturers, retailers and mobile network operators are included in the research and their share of mobile devices

in use (for manufacturers and retailers) and mobile subscriptions (for mobile network operators) is given. However, take-up rates are

not split out for these due to diminishing sample size.

BRAZIL

Acer

Apple

Asus

Dell

HP

LG

Lenovo

Samsung

americanas.com

Casas Bahia

Extra

Magazine Luiza

Pontofrio

Ricardo Eletro

Claro

Oi

TIM

Vivo

CHINA

Acer

Apple

Asus

Dell

HP

Huawei

Lenovo

Samsung

Amazon

Apple Store

Black Swan

GOME

JD.com

New-Mart

Suning

tmall.com

China Mobile

China Telecom

China Unicom






ITALY

Acer

Apple

Asus

HP

Huawei

Lenovo

LG

Nokia

Samsung

Amazon

Apple Store

Euronics

Expert

Media World

TRONY

Unieuro

3 Italia

TIM

Vodafone

Wind

SPAIN

Acer

Apple

HP

Huawei

Lenovo

LG

Samsung

Sony

Amazon

Apple Store

BEEP

El Corte Inglés / Hipercor

Fnac

MediaMarkt / Saturn

Phone House

Movistar

Orange

Vodafone

Yoigo

UK

Acer

Apple

HP

Nokia

Lenovo

Samsung

Sony

Amazon

Argos

Carphone Warehouse

Currys / PC World

Tesco

3

EE (or Orange / T-Mobile)

O2

Tesco Mobile

Virgin Mobile

Vodafone

GERMANY

Acer

Apple

Asus

HP

Huawei

Lenovo

Nokia

Samsung

Sony

Amazon

Apple Store

eBay

MediaMarkt / redcoon / Saturn

Otto / Heine / Quelle / Schwab

1&1

O2

T-Mobile

Vodafone

USA

Acer

Apple

Dell

HP

Lenovo

LG

Samsung

Amazon

Apple Store

Best Buy

Target

Walmart

AT&T

Sprint

T-Mobile USA

Verizon Wireless

For which manufacturers, retailers and mobile

network operators are take-up rates split out? (cont.)

Note 1: take-up rates are for one or both of mobile gadget cover and mobile phone cover, depending upon the organisation in

question.

Note 2: other manufacturers, retailers and mobile network operators are included in the research and their share of mobile devices

in use (for manufacturers and retailers) and mobile subscriptions (for mobile network operators) is given. However, take-up rates are

not split out for these due to diminishing sample size.






What is the report structure (for the overview report)?

0. Executive Summary: providing a concise evaluation of the principal findings of the report.

1. Introduction: offering rationale.

2. Mobile Gadgets: averaged across all ten countries, and with data split out for each of those countries, this chapter

includes a quantification of the proportion of all consumers who are mobile gadget owners and, among these, the

percentage that has acquired some type of mobile gadget insurance or extended warranty, differentiating between

stand-alone cover and cover packaged with a banking product or household insurance. For respondents with stand-

alone cover, analysis is provided for how take-up rates for such cover differ according to a number of variables

including the manufacturer and retailer of the mobile gadget acquired. Data is also provided concerning the

distribution channels and interfaces used to acquire stand-alone mobile gadget cover, while claims frequency and

acceptance rates are computed across respondents with all types of mobile gadget cover.

3. Mobile Phones: analysis in this chapter is similar to that for the preceding one but with mobile phone insurance

and extended warranty take-up rates also analysed by subscription and phone type, and by mobile network operator.

4. Australia: this chapter presents the same information as described above exclusively as it pertains to consumer

approaches to mobile gadget and phone insurance and extended warranties in Australia.

5 – 13. Brazil, Canada, China, France, Germany, Italy, Spain, the UK and the US (all contents as for Australia).

12. Appendix: including a full transcript of the online survey used to research this subject.






What are the key features of the research?

Key features of the reports in this series include:

• unique analyses showing the percentage of mobile device owners that currently possesses mobile

gadget or phone cover in each country, how this penetration rate varies by device manufacturer and

retailer, and the potential for this proportion to grow further;

• data describing the percentage of mobile device owners covered in the event of accidental

damage, loss, technical fault, theft, viral attack and (for mobile phone insurance) unauthorised use to

make calls and unauthorised use of an e-wallet;

• robust statistics illustrating the extent to which alternative distribution channels, such as banks,

direct sales by insurers and affinity channels, are eroding the share of traditional distributors (i.e.

manufacturers and retailers of mobile devices plus mobile phone operators);

• reliable benchmarking of the point in time chosen by mobile device owners to take out mobile

gadget or phone cover and whether they did so as a result of any particular prompt (e.g. web chat);

• valuable insights into claims frequency rates split by type of policy (i.e. stand-alone or packaged),

as well as by type of claim and by whether the claim was accepted or refused.






How can the research be used?

You may be able to use reports in this series in one or more of the following ways:

• benchmark your organisation’s performance in mobile gadget or phone insurance and extended

warranties: are your cross-selling rates in line with the market averages described in these studies?

• appreciate the potential for increasing the penetration of policies that incorporate cover for

accidental damage, loss or theft, or emerging risks such as unauthorised use of an e-wallet: what is

your organisation’s experience?

• evaluate the opportunities for distributing mobile gadget and phone cover in each country through

channels other than manufacturers, retailers and mobile network operators: to what extent will

owners of mobile devices buy through these means?

• assess the prospects for retrospective marketing and re-solicitation programs: how many mobile

device owners buy insurance or extended warranty cover after acquiring the underlying device and

how long do they wait?

• understand claims experience for mobile phone and gadget cover in each country and what this

might mean for the way in which your organisation underwrites or distributes this type of policy.






Who can use the research?

1. Insurance and extended warranty underwriters: firms with an interest in mobile gadget and

phone insurance and extended warranties in these markets will be able to arrive at a detailed

understanding of the dynamics of this growing market which can be used when negotiating

new distribution partnerships;

2. Mobile device manufacturers and retailers, and mobile network operators: organisations

producing or selling mobile gadgets or phones will benefit from this research by appreciating

the extent to which their performance in mobile gadget and phone insurance or extended

warranties is superior or inferior to the wider market averages;

3. Affinity distributors: the results of the research underline the reality that there are opportunities

to develop affinity programs for mobile gadget and phone cover through new channels – does

this represent a viable option for your company?

4. Management consultancies: are you helping any of the organisations with an interest in this

arena to improve their performance in mobile gadget or phone cover in Australia, Brazil,

Canada, China, France, Germany, Italy, Spain, the UK or the US? If so, this research will

provide you with unique insights into consumer behaviour in these markets.






What are some of the key findings?

Source: Finaccord Mobile Metrics survey, 2017

0% 20% 40% 60% 80% 100%

Australia

Brazil

Canada

China

France

Germany

Italy

Spain

UK

US

Unweighted average

At a shop

Remote

1) Over a half of mobile gadget sales in China, Germany and

the UK occur online (as opposed to in a physical shop)

% split of gadget sales by distribution channel






What are some of the key findings? (cont.)2) A quite significant proportion of sales of stand-alone mobile phone

cover in the Brazil is made through alternative distribution channels


Mobile network operator,

20.7%

Mobile phone retailer, 24.7%

Mobile phone manufacturer,

29.8%

Direct from an insurer, 7.6%

Broker, 1.0%

Other (e.g. employer),

16.2%






What are some of the key findings? (cont.)3) As an unweighted average across all ten countries, almost a half of sales of both stand-

alone mobile gadget and phone cover reportedly occur without any particular prompt

Mobile gadget cover Mobile phone cover

% breakdown of sales of stand-alone mobile gadget and phone cover by main purchasing prompt


0%

20%

40%

60%

80%

100%

Other prompts (broken out into eight

categories in the reports themselves)

Face-to-face or phone conversation

Bought proactively with no particular

prompt






What are some of the key findings? (cont.)

Key findings from executive summaries in this series include:

• when analysed by manufacturer, and as an average across all ten countries, respondents

acquiring Apple tablets or laptops are the most likely to also opt for some type of stand-alone

mobile gadget cover, followed by those buying HP or Samsung tablets or laptops;

• also as an ten-country average, annual claims frequency among respondents with mobile gadget

cover is higher than that for those with mobile phone cover although claims refusal rates (i.e. the

percentage of claims turned down) are somewhat lower;

• in the US, 57.6% of respondents were found to have purchased at least one mobile gadget in the

three years leading up to the survey with 28.0% of respondents having purchased a tablet, 32.4% a

laptop, 5.9% a camera with no telephony function and 15.2% a wearable device;

• in France, as in most other countries, take-up rates for stand-alone mobile phone cover among

smartphone owners and respondents with post-paid subscriptions were found to be higher than

those with basic phones and a prepaid arrangement – in a similar vein, and again in line with the

ten-country weighted average, take-up rates were also higher among younger respondents (aged

16 to 34) and females.






What is the cost and format?

All of the reports in the Mobile Metrics series are available as standard PDF documents and Excel data

annexes. Costs for the various titles in the series are as follows:

REPORT COST *

USD 8,395

USD 1,395

USD 1,395

USD 1,395

USD 1,395

USD 1,395

USD 1,395

USD 1,395

USD 1,395

USD 1,395

USD 1,395

* GST at the prevailing rate will be added to the basic price for Singapore-based buyers except for where the request is for hard copy

only. Costs quoted are for a single office, single country licence only. For corporate user licence options, please see the next slide for

further details. Invoices can be paid in EUR or GBP, at the prevailing exchange rate, if preferred.

Mobile Metrics: Consumer Approaches to Mobile Gadget and Phone Insurance and Extended Warranties in Selected Global Markets

Mobile Metrics: Consumer Approaches to Mobile Gadget and Phone Insurance and Extended Warranties in Australia

Mobile Metrics: Consumer Approaches to Mobile Gadget and Phone Insurance and Extended Warranties in Brazil

Mobile Metrics: Consumer Approaches to Mobile Gadget and Phone Insurance and Extended Warranties in Canada

Mobile Metrics: Consumer Approaches to Mobile Gadget and Phone Insurance and Extended Warranties in China

Mobile Metrics: Consumer Approaches to Mobile Gadget and Phone Insurance and Extended Warranties in France

Mobile Metrics: Consumer Approaches to Mobile Gadget and Phone Insurance and Extended Warranties in Germany

Mobile Metrics: Consumer Approaches to Mobile Gadget and Phone Insurance and Extended Warranties in Italy

Mobile Metrics: Consumer Approaches to Mobile Gadget and Phone Insurance and Extended Warranties in Spain

Mobile Metrics: Consumer Approaches to Mobile Gadget and Phone Insurance and Extended Warranties in the UK

Mobile Metrics: Consumer Approaches to Mobile Gadget and Phone Insurance and Extended Warranties in the USA






How can the research be purchased?

Simple. Just go to the relevant area of the Finaccord website, create your account (if you do not

have one already) and place your order online. Products paid for online by card will be delivered

immediately by e-mail but please allow up to one working day for delivery by e-mail if you choose to

pay on receipt of invoice.

With regards to the corporate user licence, you will be asked to choose one of the following options:

1. One office, one country: no supplement over and above basic cost of reports ordered

2. Multiple offices, one country: additional 20% over and above basic cost of reports ordered

3. Multiple offices, two to ten countries: additional 50% over and above basic cost of reports ordered

4. Global (unlimited offices in unlimited countries): additional 100% over and above basic cost of reports ordered

Alternatively, you can place an order by sending your request to [email protected], clearly

stating the product(s) required, associated price(s) and billing details for eventual invoice or card

payment receipt.




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