|[April 03, 2014]
Inhance Technology Infographic Highlights Latest Trends in Mobile Device Insurance
SAN FRANCISCO & CORK, Ireland --(Business Wire)--
Two thirds of mobile device owners would prefer to buy an insurance
policy which includes advanced security features rather than a basic
policy that just covers for damage, loss and theft according to a new
Infographic from mobile device security and warranty specialist, Inhance
Consumers are taking increased interest in protecting their devices and
content as data from FCC (News - Alert) (Federal Communications Commission) finds that
a third of all robberies in the US in 2012 involved cell phones
resulting in $30 billion worth of stolen phones.
Technology Infographic includes published statistics from
Brightstar, Frost & Sullivan (News - Alert), Gartner, SNS and Warranty Week.
"An analysis of the latest research strongly suggests that consumers are
taking much greater interest in protecting their smartphones and tablets
firstly, because of their cost and secondly, because of the amount and
value of confidential data today's users store on their devices," said
Paul Prendergast, CEO, Inhance Technology. "This is providing a major
business opportunity for wireless retailers, carriers and insurers."
Inhance Technology, which provides mobile
device insurance and warranty programs to global insurance,
retailers and wireless providers across Europe, North America and Asia,
conducted research amongst 500 consumers aged between 20 and 65. It
found that just 6% would find it attractive to purchase a policy which
only covers accidental damage, theft or loss. 71% said such a policy was
not value for money.
However, 45% would find it more attractive to buy a policy which
included security software such as remote lock and locate, activate
alarm, anti-malware; parental controls; content transfer between devices
and data back-up, wipe. Two thirds said they would prefer to buy an
advanced policy because it offers more protection and value for money.
Other highlights from the Inhance Technology Infographic:
$61bn - the estimated value of global mobile device insurance market
in 2018 - up from $30bn in 2013. (SNS Research *, 2013).
$7.8bn - the amount top four US wireless carriers collect in
protection plan premiums. (Warranty Week, Nov 2013**).
$4.3bn - the amount top US electronic retailers collect for cell phone
service contracts. (Warranty Week, Nov 2013**).
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