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Extended Warranties and Insurance for Mobile and Non-Mobile Consumer Products in Norway Product Image

Extended Warranties and Insurance for Mobile and Non-Mobile Consumer Products in Norway

  • ID: 1923634
  • August 2014
  • Region: Norway
  • 63 Pages
  • Finaccord

Extended Warranties and Insurance for Mobile and Non-Mobile Consumer Products in Norway is about the market for extended warranties and insurance sold in conjunction with white goods, brown goods, grey goods, mobile gadgets and mobile phones in Norway.

The study draws on extensive primary and secondary research covering 63 organisations involved in the production and distribution of mobile and non-mobile consumer products including manufacturers, mainstream mobile network operators, mobile virtual network operators (MVNOs), specialised retailers of consumer electronics, supermarkets and other types of retailer (namely, department stores, DIY outlets, speciality retailers and variety retailers). Hence, it provides a comprehensive overview of this activity across Norway.

Note: Product cover images may vary from those shown

0.0 EXECUTIVE SUMMARY

1.0 INTRODUCTION

What is this report about?

Rationale

Evolving distribution channels both favour and compromise extended warranty provision

Methodology

Manufacturer and retailer survey

The survey's scope covers 63 manufacturers and retailers of mobile and non-mobile consumer products

Market data

Distribution channels for retailers

Definitions

Extended warranties and insurance

Extended warranties and insurance linked to consumer products come in a variety of formats…

…and are frequently marketed to consumers under alternative titles

Premiums and other revenues

Operating models

Weighted shares

PartnerBASE and market data annexe

Finaccord

2.0 WHITE GOODS

Introduction

Underlying market value and volume

Norway's white goods market rose by 6.3% in terms of the volume of items sold between 2009 and 2013

Manufacturers' original warranty length and consumer law

Norwegian consumers benefit from greater legal protection than that in place in EU countries

Manufacturer schemes for extended warranties and insurance

Most manufacturers of white goods in Norway do not promote extended warranties…

Retailer schemes for extended warranties and insurance

… although the reverse applies to retailers

Moderna Försäkringar and Vardia Forsikring each claim two retailer partnerships

Risk coverage of all schemes for extended warranties and insurance

All schemes provide cover for technical breakdown and accidental damage

Independent distribution channels

Market value for extended warranties and insurance

Market forecasts to 2017

Norway's white goods market will make further steady progress between 2013 and 2017...

... generating a modest increase in the value of the associated extended warranty market

3.0 BROWN GOODS

Introduction

Underlying market value and volume

Both the value and volume of sales of brown goods moved up between 2009 and 2013

Manufacturers' original warranty length and consumer law

A half of manufacturers of brown goods offer a two-year original warranty in Norway…

Manufacturer schemes for extended warranties and insurance

… and several have introduced extended warranty programs

Retailer schemes for extended warranties and insurance

Four external providers are apparent in the analysis of retailer schemes

Risk coverage of all schemes for extended warranties and insurance

Most extended warranty schemes for brown goods include cover for accidental damage

Independent distribution channels

Market value for extended warranties and insurance

Market forecasts to 2017

By 2017, expenditure on brown goods by Norwegian consumers is predicted to exceed NOK 7.5 billion

The value of the extended warranty market will also rise, but only by a small amount

4.0 GREY GOODS

Introduction

Underlying market value and volume

The value of the grey goods market retreated between 2009 and 2013

Manufacturers' original warranty length and consumer law

Acer and Brother both offer three-year original warranties for grey goods in Norway

Manufacturer schemes for extended warranties and insurance

Extended warranties are on offer from a clear majority of manufacturers investigated…

...with AmTrust and London General Insurance active as external providers for four of them

Retailer schemes for extended warranties and insurance

Moderna Försäkringar leads the field by weighted share of partnerships

Risk coverage of all schemes for extended warranties and insurance

Most extended warranty programs for grey goods include cover for accidental damage

Independent distribution channels

Market value for extended warranties and insurance

Market forecasts to 2017

Between 2013 and 2017, the underlying grey goods market is likely to diminish further…

…which will bring about another fall in the related extended warranty market

5.0 MOBILE GADGETS

Introduction

Underlying market value and volume

Norway's mobile gadget market value exceeded NOK 5 billion in 2013

Manufacturers' original warranty length and consumer law

No mobile gadget manufacturer offers a guarantee of longer than two years

Manufacturer schemes for extended warranties and insurance

Most manufacturers with extended warranty programs manage these on a purely internal basis…

Retailer schemes for extended warranties and insurance

… although retailers generally opt to utilise external partners

Gjensidige Forsikring claims a key relationship in this field

Risk coverage of all schemes for mobile gadget insurances

Theft is covered in a few cases but loss in none at all

Independent distribution channels

Market value for extended warranties and insurance

Market forecasts to 2017 50 By 2017, Norwegian consumers will buy around 500,000 more mobile gadgets than they did in 2013…

… which means that there may be a resumption of growth in the mobile gadget insurance market

6.0 MOBILE PHONES

Introduction

Underlying market volumes

Mobile phone subscriptions per capita advanced from 1.11 in 2009 to 1.16 in 2013...

...meaning that the number mobile handset owners has also increased

Manufacturers' original warranty length and consumer law

Manufacturer original guarantees last either one or two years in Norway

Manufacturer schemes for mobile phone insurance

Apple is unique in Norway in making an extended warranty available to its customers

Retailer schemes for mobile phone insurance

Some mobile network operators are running mobile phone insurance programs…

… with Mondux Assurance running two of these, using two separate underwriters for this purpose

Six other competitors are also in evidence

Risk coverage of all schemes for mobile phone insurance

Cover for accidental damage is more commonly available than cover for technical failure

Independent distribution channels

Market value for mobile phone insurance

Market forecasts to 2017

The number of mobile phone subscriptions will probably carry on growing…

… as will the number of individuals in possession of a mobile phone

An increase of just 0.5% in the overall take-up rate would cause a significant rise in the total market value

LIST OF GRAPHICS / TABLES

0.0 EXECUTIVE SUMMARY

Approximate market value for extended warranties and insurance linked to mobile and non-mobile consumer products in Norway, 2013 and 2017 (forecast)

Approximate market value for extended warranties and insurance linked to mobile and non-mobile consumer products in Norway, 2009, 2013 and 2017 (forecast) (table)

1.0 INTRODUCTION

Organisations researched in Norway, segmented by type, 2014

Retailers researched in Norway segmented by distribution channel, 2014

2.0 WHITE GOODS

Value and volume of sales of white goods in Norway, 2009 and 2013

Comparative length of original warranties offered by manufacturers of white goods in Norway, 2014

Manufacturer schemes for extended warranties and insurance linked to white goods in Norway: provision rates and operating models, 2014

Retailer schemes for extended warranties and insurance linked to white goods in Norway: provision rates and operating models, 2014

Retailer schemes for extended warranties and insurance linked to white goods in Norway: unweighted and weighted provider share of partnerships, 2014

Risk coverage of all schemes for extended warranties and insurance linked to white goods in Norway, 2014

Approximate market value for extended warranties and insurance linked to white goods in Norway, 2009 and 2013

Value and volume of sales of white goods in Norway, 2013 and 2017 (forecast)

Approximate market value for extended warranties and insurance linked to white goods in Norway, 2013 and 2017 (forecast)

3.0 BROWN GOODS

Value and volume of sales of brown goods in Norway, 2009 and 2013

Comparative length of original warranties offered by manufacturers of brown goods in Norway, 2014

Manufacturer schemes for extended warranties and insurance linked to brown goods in Norway: provision rates and operating models, 2014

Manufacturer schemes for extended warranties and insurance linked to brown goods in Norway: unweighted and weighted provider share of partnerships, 2014

Retailer schemes for extended warranties and insurance linked to brown goods in Norway: provision rates and operating models, 2014

Retailer schemes for extended warranties and insurance linked to brown goods in Norway: unweighted and weighted provider share of partnerships, 2014

Risk coverage of all schemes for extended warranties and insurance linked to brown goods in Norway, 2014

Approximate market value for extended warranties and insurance linked to brown goods in Norway, 2009 and 2013

Value and volume of sales of brown goods in Norway, 2013 and 2017 (forecast)

Approximate market value for extended warranties and insurance linked to brown goods in Norway, 2013 and 2017 (forecast)

4.0 GREY GOODS

Value and volume of sales of grey goods in Norway, 2009 and 2013

Comparative length of original warranties offered by manufacturers of grey goods in Norway, 2014

Manufacturer schemes for extended warranties and insurance linked to grey goods in Norway: provision rates and operating models, 2014

Manufacturer schemes for extended warranties and insurance linked to grey goods in Norway: unweighted and weighted provider share of partnerships, 2014

Retailer schemes for extended warranties and insurance linked to grey goods in Norway: provision rates and operating models, 2014

Retailer schemes for extended warranties and insurance linked to grey goods in Norway: unweighted and weighted provider share of partnerships, 2014

Risk coverage of all schemes for extended warranties and insurance linked to grey goods in Norway, 2014

Approximate market value for extended warranties and insurance linked to grey goods in Norway, 2009 and 2013

Value and volume of sales of grey goods in Norway, 2013 and 2017 (forecast)

Approximate market value for extended warranties and insurance linked to grey goods in Norway, 2013 and 2017 (forecast)

5.0 MOBILE GADGETS

Value and volume of sales of mobile gadgets in Norway, 2009 and 2013

Comparative length of original warranties offered by manufacturers of mobile gadgets in Norway, 2014

Manufacturer schemes for extended warranties and insurance linked to mobile gadgets in Norway: provision rates and operating models, 2014

Manufacturer schemes for extended warranties and insurance linked to mobile gadgets in Norway: unweighted and weighted provider share of partnerships, 2014

Retailer schemes for extended warranties and insurance linked to mobile gadgets in Norway: provision rates and operating models, 2014

Retailer schemes for extended warranties and insurance linked to mobile gadgets in Norway: unweighted and weighted provider share of partnerships, 2014

Risk coverage of all schemes for extended warranties and insurance linked to mobile gadgets in Norway, 2014

Approximate market value for extended warranties and insurance linked to mobile gadgets in Norway, 2009 and 2013

Value and volume of sales of mobile gadgets in Norway, 2013 and 2017 (forecast)

Approximate market value for extended warranties and insurance linked to mobile gadgets in Norway, 2013 and 2017 (forecast)

6.0 MOBILE PHONES

Volume of mobile phone subscriptions and subscriptions per capita in Norway, 2009 and 2013

Number of individuals owning a mobile phone in Norway and their weighting within the total population, 2009 and 2013

Comparative length of original warranties offered by manufacturers of mobile phones in Norway, 2014

Manufacturer schemes for extended warranties and insurance linked to mobile phones in Norway: provision rates and operating models, 2014

Retailer schemes for extended warranties and insurance linked to mobile phones in Norway: provision rates and operating models, 2014

Retailer schemes for extended warranties and insurance linked to mobile phones in Norway: unweighted and weighted provider share of partnerships, 2014

Risk coverage of all schemes for extended warranties and insurance linked to mobile phones in Norway, 2014

Approximate market value for extended warranties and insurance linked to mobile phones in Norway, 2009 and 2013

Volume of mobile phone subscriptions and subscriptions per capita in Norway, 2013 and 2017 (forecast)

Number of individuals owning a mobile phone in Norway and their weighting within the total population, 2013 and 2017 (forecast)

Approximate market value and policies in force for extended warranties and insurance linked to mobile phones in Norway, 2013 and 2017 (forecast)

Note: Product cover images may vary from those shown
Note: Product cover images may vary from those shown

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