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Extended Warranties and Insurance for Mobile Consumer Products in Southern and Western Europe
Finaccord, June 2009, Pages: 180
Finaccord’s report titled Extended Warranties and Insurance for Mobile Consumer Products in Southern and Western Europe, is a report about the market for extended warranties and related insurance sold in conjunction with mobile consumer products in eight countries: Belgium, France, Ireland, Italy, the Netherlands, Portugal, Spain and the UK. Mobile consumer products analysed are portable electronic devices, most notably laptop computers, digital cameras, mobile telephones and other small mobile products, such as portable audio equipment and satellite navigation systems. The report draws on extensive primary and secondary research covering 616 organisations involved in the production and distribution of mobile consumer products including 240 manufacturers, 176 ‘bricks and mortar’ retailers, 155 retailers specialising in online and / or home shopping and 45 mobile telephone network operators. A number of factors combine to form a firm rationale for a pair of published reports and databases about extended warranties and insurance for mobile consumer products in Europe among which are the fact that these are only the second ever published works on the subject on a pan-European basis. This is curious given that the market for extended warranties and insurance linked to mobile devices is estimated by Finaccord to have been worth as much as €3.42 billion across 18 European countries in 2008 (of which around €2.81 billion is due to Southern and Western Europe).
You may be able to use this report and the PartnerBASE that accompanies it in one or more of the following ways:
- appreciate the size of the opportunity in the market for extended warranties and insurance linked to mobile consumer products in Southern and Western Europe: in aggregate, this is a substantial market;
- understand how dynamic competitors are helping the sector to grow at a rate well in excess of the underlying markets for laptop computers, digital cameras, mobile telephones and other small mobile devices in a number of countries;
- assess the position of competitors such as Actua Assurantiën, Assurant Solutions, Domestic & General, Estendo, Finaref Assurances, ProAssist, SPB and The Warranty Group;
- consider how extended warranty and related insurance programs are being rendered more valuable and user-friendly from the point of view of customers.
What is the rationale?
A number of factors combine to form a firm rationale for a pair of published reports and databases about extended warranties and insurance for mobile consumer products in Europe. First and foremost, these are only the second ever published works on the subject on a pan-European basis. This is curious given that the market for extended warranties and insurance linked to mobile devices is estimated by Finaccord to have been worth as much as 3.42 billion across 18 European countries in 2008 (of which around €2.81 billion is due to Southern and Western Europe).
Indeed, it is known that manufacturers and distributors that have developed successful extended warranty and insurance programs can generate a very significant proportion of their overall profits from the provision of these services. However, much of continental Europe remains comparatively under-developed for extended warranties and related insurance.
In addition, the distribution channels used for selling mobile consumer products are currently in a state of evolution. On the one hand, consumers are increasingly likely to gravitate towards larger retailers, including organisations specialising in electronic goods and supermarkets, while on the other there is a simultaneous movement in the direction of Internet sales. Although the former trend is generally helpful to the development of the extended warranty market, the latter is less so given that warranty and insurance sales tend to thrive best in a face-to-face sales environment.
Key features of this report include:
- quantification of the market size and segmentation for extended warranties and insurance linked to laptop computers, digital cameras, mobile telephones and other small mobile devices: how much is the market really worth across the eight countries considered in Southern and Western Europe and how does it break down?
- analysis of the risk coverage of extended warranty and insurance programs: in which countries do these policies offer protection in the event of accidental damage, loss, theft and / or airtime abuse (for mobile telephones) in addition to technical breakdown?
- identification of extended warranty and insurance underwriters and brokers that have established relationships with manufacturers and distributors of mobile consumer products;
- assessment of the degree to which financial institutions currently bundle extended warranties or mobile telephone insurance with their banking products such as payment cards and packaged accounts: in which countries could this practice impact upon the development of the stand-alone market for extended warranties and insurance linked to mobile consumer products?
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