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Mobile Phone Insurance
£2500

Content
  • Introduction & ScopeToggle
    • Report coverage
    • Methodology
    • Abbreviations
  • Report SummaryToggle
    • A market worth £263m
    • £6bn at risk, but only £2bn covered
    • Not a competitive market…
    • …But a market where competition is increasing
    • Price competition to increase along with more product segmentation
    • Key ownership drivers
    • Comfort versus risk
  • How covered are UK consumers?Toggle
    • One in five mobile owners have insurance
    • Younger phone owners the most engaged with insurance
    • The affluent have the most to lose
    • Never mind the width, feel the quality
    • The three decision stages
    • Consumers exposed to almost £4bn of losses
  • What Drives Demand?Toggle
    • Fear prompts ownership
    • Value of handset determines relevance
    • The tipping point
    • Replacement costs impact on purchasing behaviour
    • Fear of what might happen also drives demand
    • Fear and finances drive perceptions of value
    • Social and contract costs must also be considered
  • Do Consumers Know What They Are Covered For? Toggle
    • Consumers know the basics but not the details
    • Consumers understate damage cover
    • Clued-Up or Clueless?
    • Contract holders least knowledgeable of their policies
    • Have the clueless just forgotten what they used to know?
  • How Insurance is AcquiredToggle
    • Handset acquisition goes hand-in-hand with policy acquisition
    • Most policies acquired around one year ago
    • Four types of policyholder by timing
    • Is the point of sale losing its power?
    • Going free saves money
    • Packaged bank accounts now the prime sales channel
    • Free Agents use “free” channels
    • Policies arranged at arm’s length
  • Competition in the MarketToggle
    • Do consumers really know what they are buying?
    • Do consumers search before buying?
    • But is the market becoming more competitive?
    • Do consumers look for better deals?
    • What would happen in a competitive market?
  • Market Shares Toggle
    • Banks and networks dominate
  • Are Consumers Getting a Good Deal?Toggle
    • Accidents more prevalent than criminal activity
    • Over 30 million incidents
    • Incident typologies
    • Most adults look after their phones – or at least say they do
    • No evidence of moral hazard
    • Most policyholders never claim
    • Seeking comfort or money?
    • Comfort Seekers happy to take a “free lunch”
    • Comfort Seekers more careful with their phones, meaning less fear of loss
    • The financial value of cover
    • There’s logical and then there’s logic
    • Policyholders rate their standalone policies as high value
    • Value limited if claims are rejected
  • Establishing Size of the MarketToggle
    • 10 million policy holders
    • Average premium of £2.17 per month
    • ABC1s account for almost 70% of premiums
    • Apple iPhone a key market driver
    • Expanding the market
  • AppendixToggle
    • Further information
  • DownloadsToggle
    • Report PDF
    • Questionnaire
    • Datasheet
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Establishing Size of the Market
 
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LATEST RESEARCH | 25 May 2013
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