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Extended Warranties and Insurance for Mobile and Non-Mobile Consumer Products in India 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 India.

The study draws on extensive primary and secondary research covering 99 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 India.

Key features of this publication include:

- quantification of the market value for extended warranties and insurance linked to mobile and non-mobile consumer products: how much is the market likely to have been worth in India in 2015, how did it split between white goods, brown goods, grey goods, mobile gadgets and mobile phones, and to what extent did each of these segments grow or decline in value since 2011?

- analysis of extended warranty underwriters and brokers that have established scheme relationships with manufacturers and retailers of white goods, brown goods, grey goods, mobile gadgets and mobile phones, including their unweighted share of partnerships;

- consideration of the potential for cross-selling stand-alone extended warranty and insurance policies through independent channels that are separate from either manufacturers or retailers: does an emerging market exist for this form of distribution in India?

- forecasts for the market size for extended warranties and insurance linked to mobile and non-mobile consumer products up to 2019: assuming no significant changes in the number of manufacturer and retailer schemes, what factors will cause this sector to grow or decline in the next few years?

Table Of Contents

Extended Warranties and Insurance for Mobile and Non-Mobile Consumer Products in India
TABLE OF CONTENTS
00 EXECUTIVE SUMMARY 1
10 INTRODUCTION 3
What is this report about? 3
Rationale 3
A number of factors are causing dynamics to change in the extended warranty and insurance sector… 3
… including shifts in consumer behaviour… 3
… especially in relation to their use of distribution channels 4
Methodology 4
Manufacturer and retailer survey 4
The survey covers close to 100 manufacturers and retailers of the consumer products in scope 4
Market data 5
Distribution channels for retailers 5
Definitions 6
Extended warranties and insurance 6
Extended warranties and insurance linked to consumer products come in a variety of formats… 6
…and are frequently marketed to consumers under alternative titles 6
Premiums and other revenues 7
Operating models 7
Weighted shares 8
PartnerBASE and market data annexe 8
Finaccord 9
20 WHITE GOODS 10
Introduction 10
Underlying market value and volume 11
The value and volume of sales of white goods in India has increased rapidly in recent years 11
Manufacturers' original warranty length and consumer law 12
A number of manufacturers offer original warranties for white goods lasting more than one year 12
A new Consumer Protection Bill is due to be passed in India in 2016 12
Manufacturer schemes for extended warranties and insurance 13
Extended warranties are commonly available from manufacturers of white goods… 13
Retailer schemes for extended warranties and insurance 15
… but are much less widespread among retailers 15
Tata AIG benefits from its partnerships in this sphere with Croma and Hypercity 16
Infinity Assurance Solutions claims the highest weighted partnership share 16
Combined analysis for manufacturer and retailer schemes 18
Manufacturers emerge from the combined analysis as the probable sector leaders 18
Risk coverage of all schemes for extended warranties and insurance 19
Most extended warranties for white goods are limited to providing cover for mechanical faults 19
Independent distribution channels 19
There are at least four independent providers of extended warranties for white goods in India… 19
… including Onsite Secure, which has around 2 million customers across all categories 19
Market value for extended warranties and insurance 20
Market forecasts to 2019 21
The white goods market is forecast to continue to experience rapid growth through to 2019… 21
causing the market for related extended warranties to nearly double in value 22
30 BROWN GOODS 23
Introduction 23
Underlying market value and volume 24
The value of sales of brown goods advanced by more than 80% between 2011 and 2015 24
Manufacturers' original warranty length and consumer law 25
All manufacturers of brown goods in India stick to a one-year factory guarantee… 25
Manufacturer schemes for extended warranties and insurance 26
… and a majority offer their customers the option of extending that 26
Retailer schemes for extended warranties and insurance 28
Arrangements for extended warranties for brown goods are identical to those for white goods… 28
Combined analysis for manufacturer and retailer schemes 30
… meaning that manufacturers remain dominant in the combined analysis 30
Risk coverage of all schemes for extended warranties and insurance 31
Virtually all extended warranty schemes for brown goods are restricted to cover for technical faults 31
Independent distribution channels 31
New India Assurance has introduced a policy incorporating cover specifically for TV sets 31
Market value for extended warranties and insurance 32
Market forecasts to 2019 33
India's market for brown goods is predicted to carry on growing quickly up to 2019 33
… which will help to support a similar rapid advance in the associated extended warranty market 34
40 GREY GOODS 35
Introduction 35
Underlying market value and volume 36
In line with global trends, the value of the grey goods market retreated between 2011 and 2015 36
Manufacturers' original warranty length and consumer law 37
Most manufacturers of grey goods offer a factory warranty lasting just one year… 37
Manufacturer schemes for extended warranties and insurance 38
… albeit many also make extended warranties available 38
Retailer schemes for extended warranties and insurance 40
Arrangements are generally similar to those for extended warranties for white and brown goods… 40
albeit Gadgetwood and Onsite Secure are identifiable as additional partners of Infibeam 40
Combined analysis for manufacturer and retailer schemes 42
Apple, Canon, HP, Lenovo and Samsung top the combined analysis 42
Risk coverage of all schemes for extended warranties and insurance 43
Cover for accidental damage is sometimes available with extended warranties for grey goods 43
Independent distribution channels 43
Market value for extended warranties and insurance 44
Market forecasts to 2019 45
The market for grey goods is forecast to continue its decline between 2015 and 2019 45
…which is likely to translate into a further contraction of the associated extended warranty market 46
50 MOBILE GADGETS 47
Introduction 47
Underlying market value and volume 48
The value of the Indian mobile gadget market surged by over 75% between 2011 and 2015 48
Manufacturers' original warranty length and consumer law 49
The vast majority of mobile gadget manufacturers limit their original guarantee to just one year… 49
Manufacturer schemes for extended warranties and insurance 50
… and under a half operate extended warranty programs 50
OneAssist benefits from its partnership with Xiaomi in this category 50
Retailer schemes for extended warranties and insurance 52
Retailer schemes for mobile gadget cover utilise a variety of different operating models… 52
… with MobileStore and UniverCell identifiable as additional distributors in this field 52
Reliance Group ranks first in the weighted analysis for retailers alone… 53
Combined analysis for manufacturer and retailer schemes 55
… but slips back to seventh in the combined analysis 55
Risk coverage of all schemes for extended warranties and insurance 56
A number of schemes for mobile gadget cover include protection for accidental damage and / or theft 56
Independent distribution channels 56
WarrantyBazaarcom and several general non-life insurers provide further independent options in this area 56
Market value for extended warranties and insurance 57
Market forecasts to 2019 58
Both the value and volume of the mobile gadget market will achieve growth through to 2019 58
… which will help to push forward the market for related extended warranty and insurance cover 59
60 MOBILE PHONES 60
Introduction 60
Underlying market volumes 61
Mobile subscriptions in India increased by more than 15% between 2011 and 2015… 61
with over 900 million individuals now owning at least one mobile phone 62
Manufacturers' original warranty length and consumer law 63
All mobile phone manufacturers only offer original warranties lasting a single year… 63
Manufacturer schemes for extended warranties and insurance 64
… and six have established extended warranty or insurance programs 64
OnePlus began offering cover in October 2015 through a partnership with B2X 64
Retailer schemes for extended warranties and insurance 66
Mobile phone cover is available from a number of retailers but not yet from any mobile network operators 66
AmTrust's TecProtec is employed in this sphere by E-Zone… 67
… and is seeking to roll out a broad array of services in the Indian market 67
Combined analysis for manufacturer and retailer schemes 69
Apple and OneAssist are ranked first and second respectively in the combined analysis 69
Risk coverage of all schemes for extended warranties and insurance 70
No policies cover all risks but some offer protection for four of the main ones 70
Independent distribution channels 71
There are plenty of ways for Indian mobile phone owners to buy cover from independent providers 71
Market value for extended warranties and insurance 71
Market forecasts to 2019 73
Penetration of mobile phone subscriptions is expected to have advanced further by 2019… 73
with over 80% of the population likely to own a mobile handset by that time… 74
… and with a further surge in value predicted for the mobile phone insurance sector 75

LIST OF GRAPHICS / TABLES

00 EXECUTIVE SUMMARY 1
Approximate market value for extended warranties and insurance linked to mobile and non-mobile consumer products in India, 2011, 2015 and 2019 (forecast) 2
Approximate market value for extended warranties and insurance linked to mobile and non-mobile consumer products in India, 2011, 2015 and 2019 (forecast) (table) 2
10 INTRODUCTION 3
Organisations researched in India, segmented by type, 2015 4
Retailers researched in India segmented by distribution channel, 2015 6
20 WHITE GOODS 10
Value and volume of sales of white goods in India, 2011 and 2015 11
Comparative length of original warranties offered by manufacturers of white goods in India, 2015 12
Manufacturer schemes for extended warranties and insurance linked to white goods in India: provision rates and operating models, 2015 13
Manufacturer schemes for extended warranties and insurance linked to white goods in India: unweighted and weighted provider share of partnerships, 2015 14
Retailer schemes for extended warranties and insurance linked to white goods in India: provision rates and operating models, 2015 15
Retailer schemes for extended warranties and insurance linked to white goods in India: unweighted and weighted provider share of partnerships, 2015 17
Manufacturer and retailer schemes for extended warranties and insurance linked to white goods in India: combined analysis of weighted provider share of partnerships, 2015 18
Risk coverage of all schemes for extended warranties and insurance linked to white goods in India, 2015 19
Approximate market value for extended warranties and insurance linked to white goods in India, 2011 and 2015 20
Value and volume of sales of white goods in India, 2015 and 2019 (forecast) 21
Approximate market value for extended warranties and insurance linked to white goods in India, 2015 and 2019 (forecast) 22
30 BROWN GOODS 23
Value and volume of sales of brown goods in India, 2011 and 2015 24
Comparative length of original warranties offered by manufacturers of brown goods in India, 2015 25
Manufacturer schemes for extended warranties and insurance linked to brown goods in India: provision rates and operating models, 2015 26
Manufacturer schemes for extended warranties and insurance linked to brown goods in India: unweighted and weighted provider share of partnerships, 2015 27
Retailer schemes for extended warranties and insurance linked to brown goods in India: provision rates and operating models, 2015 28
Retailer schemes for extended warranties and insurance linked to brown goods in India: unweighted and weighted provider share of partnerships, 2015 29
Manufacturer and retailer schemes for extended warranties and insurance linked to brown goods in India: combined analysis of weighted provider share of partnerships, 2015 30
Risk coverage of all schemes for extended warranties and insurance linked to brown goods in India, 2015 31
Approximate market value for extended warranties and insurance linked to brown goods in India, 2011 and 2015 32
Value and volume of sales of brown goods in India, 2015 and 2019 (forecast) 33
Approximate market value for extended warranties and insurance linked to brown goods in India, 2015 and 2019 (forecast) 34
40 GREY GOODS 35
Value and volume of sales of grey goods in India, 2011 and 2015 36
Comparative length of original warranties offered by manufacturers of grey goods in India, 2015 37
Manufacturer schemes for extended warranties and insurance linked to grey goods in India: provision rates and operating models, 2015 38
Manufacturer schemes for extended warranties and insurance linked to grey goods in India: unweighted and weighted provider share of partnerships, 2015 39
Retailer schemes for extended warranties and insurance linked to grey goods in India: provision rates and operating models, 2015 40
Retailer schemes for extended warranties and insurance linked to grey goods in India: unweighted and weighted provider share of partnerships, 2015 41
Manufacturer and retailer schemes for extended warranties and insurance linked to grey goods in India: combined analysis of weighted provider share of partnerships, 2015 42
Risk coverage of all schemes for extended warranties and insurance linked to grey goods in India, 2015 43
Approximate market value for extended warranties and insurance linked to grey goods in India, 2011 and 2015 44
Value and volume of sales of grey goods in India, 2015 and 2019 (forecast) 45
Approximate market value for extended warranties and insurance linked to grey goods in India, 2015 and 2019 (forecast) 46
50 MOBILE GADGETS 47
Value and volume of sales of mobile gadgets in India, 2011 and 2015 48
Comparative length of original warranties offered by manufacturers of mobile gadgets in India, 2015 49
Manufacturer schemes for extended warranties and insurance linked to mobile gadgets in India: provision rates and operating models, 2015 50
Manufacturer schemes for extended warranties and insurance linked to mobile gadgets in India: unweighted and weighted provider share of partnerships, 2015 51
Retailer schemes for extended warranties and insurance linked to mobile gadgets in India: provision rates and operating models, 2015 52
Retailer schemes for extended warranties and insurance linked to mobile gadgets in India: unweighted and weighted provider share of partnerships, 2015 54
Manufacturer and retailer schemes for extended warranties and insurance linked to mobile gadgets in India: combined analysis of weighted provider share of partnerships, 2015 55
Risk coverage of all schemes for extended warranties and insurance linked to mobile gadgets in India, 2015 56
Approximate market value for extended warranties and insurance linked to mobile gadgets in India, 2011 and 2015 57

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