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

The study draws on extensive primary and secondary research covering 130 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 Brazil.

Key features of this publication include:

- quantification of the market size for extended warranties and insurance linked to mobile and non-mobile consumer products: how much is the market likely to be worth in Brazil, and how does it segment between white goods, brown goods, grey goods, mobile gadgets and mobile phones?

- 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 Brazil?

- 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 Brazil

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's scope covers 130 manufacturers and retailers of mobile and non-mobile consumer products 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 10
The value and volume of sales of white goods has increased gradually in recent years 10
Manufacturers' original warranty length and consumer law 12
Manufacturers of white goods in Brazil limit their factory warranties to a one-year duration… 12
… although Brazilian law theoretically provides consumers with additional protection 12
Manufacturer schemes for extended warranties and insurance 13
A few manufacturers of white goods have introduced extended warranty schemes… 13
… with both AIG and Zurich claiming partnerships in this sphere 13
Retailer schemes for extended warranties and insurance 15
Extended warranty schemes are much more numerous among retailers of white goods… 15
and these are distributed across a wide range of external extended warranty providers… 16
among which Cardif, Garantec and Zurich claim the most partnerships 16
Assurant, Bradesco, The Warranty Group and TRR Securitas are also important players in this category 16
Combined analysis for manufacturer and retailer schemes 18
Retailer partnerships largely determine the outcome of the combined analysis 18
Risk coverage of all schemes for extended warranties and insurance 19
All extended warranty schemes for white goods are focused on cover for technical breakdown only 19
Independent distribution channels 19
Market value for extended warranties and insurance 19
Market forecasts to 2019 21
Over 87 million items classifiable as white goods are likely to be sold in Brazil in 2019… 21
which will help boost the market for related extended warranties 22
30 BROWN GOODS 23 EXTENDED WARRANTIES AND INSURANCE FOR MOBILE AND NON-MOBILE CONSUMER PRODUCTS IN BRAZIL
© FINACCORD 12/2015 II

Introduction 23
Underlying market value and volume 24
The Brazilian brown goods market stagnated between 2011 and 2015 24
Manufacturers' original warranty length and consumer law 25
A minority of brown goods manufacturers offer more than a one-year guarantee in Brazil… 25
Manufacturer schemes for extended warranties and insurance 26
… but few have developed their own extended warranty scheme 26
Retailer schemes for extended warranties and insurance 28
Over 60% of major retail brands selling brown goods promote related extended warranties 28
…with the leading providers similar to those identified for white goods cover… 28
Combined analysis for manufacturer and retailer schemes 30
… and with the combined analysis again driven by partnerships with retailers 30
Risk coverage of all schemes for extended warranties and insurance 31
Cover for accidental damage is rarely available through extended warranties for brown goods 31
Independent distribution channels 31
Assurant's BemMaisSeguro offers an independent option to consumers seeking extended warranty cover 31
Market value for extended warranties and insurance 32
Market forecasts to 2019 33
Brazil's market for brown goods may experience a resumption of growth up to 2019… 33
… which will help to support growth in the related extended warranty market 34
40 GREY GOODS 35
Introduction 35
Underlying market value and volume 36
The value of the Brazilian grey goods market declined slightly between 2011 and 2015 36
Manufacturers' original warranty length and consumer law 37
The vast majority of manufacturers of grey goods stick to providing a one-year factory warranty… 37
Manufacturer schemes for extended warranties and insurance 38
… albeit a handful promote extended warranties… 38
… including Samsung, which collaborates with Zurich Seguros in this context 38
Retailer schemes for extended warranties and insurance 40
The supply structure for retailer warranties for grey goods is similar to that for white and brown goods 40
… albeit schemes unique to grey goods are attributable to Cardif and Tokio Marine… 40
Combined analysis for manufacturer and retailer schemes 42
… with the former company ranked first in the combined, weighted analysis 42
Risk coverage of all schemes for extended warranties and insurance 43
Most extended warranties for grey goods are limited to cover for technical breakdown only 43
Independent distribution channels 43
Market value for extended warranties and insurance 44
Market forecasts to 2019 45
A moderate rise is possible in the underlying grey goods market between 2015 and 2019… 45
… albeit growth in the related extended warranty market will probably be less 46
50 MOBILE GADGETS 47
Introduction 47
Underlying market value and volume 48
The value of the Brazilian mobile gadget market surged by over 50% between 2011 and 2015 48
Manufacturers' original warranty length and consumer law 49
Two mobile gadget manufacturers offer original guarantees that last two years… 49
Manufacturer schemes for extended warranties and insurance 50
… and more than a quarter run extended warranty schemes… 50
… with AIG, Tokio Marine and Zurich Seguros all claiming partnerships in this sphere 50
Retailer schemes for extended warranties and insurance 52
The vast majority of retailer programs are run in conjunction with external partners… 52
… leading to a quite fragmented supply structure… 53 EXTENDED WARRANTIES AND INSURANCE FOR MOBILE AND NON-MOBILE CONSUMER PRODUCTS IN BRAZIL
© FINACCORD 12/2015 III

Combined analysis for manufacturer and retailer schemes 55
… albeit the combined analysis implies that close to a half of the market is held by three providers 55
Risk coverage of all schemes for extended warranties and insurance 56
Cover for accidental damage and / or theft is available through a number of policies 56
Independent distribution channels 56
A number of independent options exist for consumers seeking to protect their mobile gadgets 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 further growth through to 2019 58
… and this will help to sustain the associated market for mobile gadget insurance 59
60 MOBILE PHONES 60
Introduction 60
Underlying market volumes 61
The number of mobile subscriptions rose by just under 70 million between 2011 and 2015… 61
with 167 million individuals believed to own at least one mobile handset in the latter year 62
Manufacturers' original warranty length and consumer law 63
No mobile phone manufacturers offer an original warranty of longer than one year… 63
Manufacturer schemes for extended warranties and insurance 64
… and only two (Samsung and Sony) have introduced any kind of extended protection 64
Retailer schemes for extended warranties and insurance 66
Most retailer arrangements are similar to those for mobile gadget extended warranties and insurance 66
Assurant claims the highest weighted share of partnerships because of its scheme with Claro 67
Conecta Serviços is involved in numerous programs for mobile phone cover in Brazil 67
MVNO Porto Seguro Conecta offers an assistance service but no insurance or extended warranty 67
Combined analysis for manufacturer and retailer schemes 69
Zurich increases is weighted share slightly in the combined analysis due to its link with Samsung 69
Risk coverage of all schemes for extended warranties and insurance 70
Cover for accidental damage and / or theft is available with some policies 70
Independent distribution channels 71
Pitzi represents a further option for consumers acquiring mobile phone insurance 71
Market value for extended warranties and insurance 71
Market forecasts to 2019 73
Mobile phone subscriptions will continue to rise between 2015 and 2019 73
and the mobile handset penetration rate will also increase further 74
The value of the mobile phone insurance market should increase rapidly between 2015 and 2019 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 Brazil, 2011, 2015 and 2019 (forecast) 2
Approximate market value for extended warranties and insurance linked to mobile and non-mobile consumer products in Brazil, 2011, 2015 and 2019 (forecast) (table) 2
10 INTRODUCTION 3
Organisations researched in Brazil, segmented by type, 2015 4
Retailers researched in Brazil segmented by distribution channel, 2015 6
20 WHITE GOODS 10
Value and volume of sales of white goods in Brazil, 2011 and 2015 11
Comparative length of original warranties offered by manufacturers of white goods in Brazil, 2015 12
Manufacturer schemes for extended warranties and insurance linked to white goods in Brazil: provision rates and operating models, 2015 13
Manufacturer schemes for extended warranties and insurance linked to white goods in Brazil: unweighted and weighted provider share of partnerships, 2015 14
Retailer schemes for extended warranties and insurance linked to white goods in Brazil: provision rates and operating models, 2015 15
Retailer schemes for extended warranties and insurance linked to white goods in Brazil: unweighted and weighted provider share of partnerships, 2015 17
Manufacturer and retailer schemes for extended warranties and insurance linked to white goods in Brazil: 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 Brazil, 2015 19
Approximate market value for extended warranties and insurance linked to white goods in Brazil, 2011 and 2015 20
Value and volume of sales of white goods in Brazil, 2015 and 2019 (forecast) 21
Approximate market value for extended warranties and insurance linked to white goods in Brazil, 2015 and 2019 (forecast) 22
30 BROWN GOODS 23
Value and volume of sales of brown goods in Brazil, 2011 and 2015 24
Comparative length of original warranties offered by manufacturers of brown goods in Brazil, 2015 25
Manufacturer schemes for extended warranties and insurance linked to brown goods in Brazil: provision rates and operating models, 2015 26
Manufacturer schemes for extended warranties and insurance linked to brown goods in Brazil: unweighted and weighted provider share of partnerships, 2015 27
Retailer schemes for extended warranties and insurance linked to brown goods in Brazil: provision rates and operating models, 2015 28
Retailer schemes for extended warranties and insurance linked to brown goods in Brazil: unweighted and weighted provider share of partnerships, 2015 29
Manufacturer and retailer schemes for extended warranties and insurance linked to brown goods in Brazil: 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 Brazil, 2015 31
Approximate market value for extended warranties and insurance linked to brown goods in Brazil, 2011 and 2015 32
Value and volume of sales of brown goods in Brazil, 2015 and 2019 (forecast) 33
Approximate market value for extended warranties and insurance linked to brown goods in Brazil, 2015 and 2019 (forecast)

40 GREY GOODS 35
Value and volume of sales of grey goods in Brazil, 2011 and 2015 36
Comparative length of original warranties offered by manufacturers of grey goods in Brazil, 2015 37
Manufacturer schemes for extended warranties and insurance linked to grey goods in Brazil: provision rates and operating models, 2015 38
Manufacturer schemes for extended warranties and insurance linked to grey goods in Brazil: unweighted and weighted provider share of partnerships, 2015 39
Retailer schemes for extended warranties and insurance linked to grey goods in Brazil: provision rates and operating models, 2015 40
Retailer schemes for extended warranties and insurance linked to brown goods in Brazil: unweighted and weighted provider share of partnerships, 2015 41
Manufacturer and retailer schemes for extended warranties and insurance linked to grey goods in Brazil: 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 Brazil, 2015 43
Approximate market value for extended warranties and insurance linked to grey goods in Brazil, 2011 and 2015 44
Value and volume of sales of grey goods in Brazil, 2015 and 2019 (forecast) 45
Approximate market value for extended warranties and insurance linked to grey goods in Brazil, 2015 and 2019 (forecast) 46
50 MOBILE GADGETS 47
Value and volume of sales of mobile gadgets in Brazil, 2011 and 2015 48
Comparative length of original warranties offered by manufacturers of mobile gadgets in Brazil, 2015 49
Manufacturer schemes for extended warranties and insurance linked to mobile gadgets in Brazil: provision rates and operating models, 2015 50
Manufacturer schemes for extended warranties and insurance linked to mobile gadgets in Brazil: unweighted and weighted provider share of partnerships, 2015 51
Retailer schemes for extended warranties and insurance linked to mobile gadgets in Brazil: provision rates and operating models, 2015 52
Retailer schemes for extended warranties and insurance linked to mobile gadgets in Brazil: unweighted and weighted provider share of partnerships, 2015 54
Manufacturer and retailer schemes for extended warranties and insurance linked to mobile gadgets in Brazil: 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 Brazil, 2015 56
Approximate market value for extended warranties and insurance linked to mobile gadgets in Brazil, 2011 and 2015 57
Value and volume of sales of mobile gadgets in Brazil, 2015 and 2019 (forecast) 58
Approximate market value for extended warranties and insurance linked to mobile gadgets in Brazil, 2015 and 2019 (forecast) 59
60 MOBILE PHONES 60
Volume of mobile phone subscriptions and subscriptions per capita in Brazil, 2011 and 2015 61
Number of individuals owning a mobile phone in Brazil and their weighting within the total population, 2011 and 2015 62
Comparative length of original warranties offered by manufacturers of mobile phones in Brazil, 2015 63
Manufacturer schemes for extended warranties and insurance linked to mobile phones in Brazil: provision rates and operating models, 2015 64
Manufacturer schemes for extended warranties and insurance linked to mobile phones in Brazil: unweighted and weighted provider share of partnerships, 2015 65
Retailer schemes for extended warranties and insurance linked to mobile phones in Brazil: provision rates and operating models, 2015 66
Retailer schemes for extended warranties and insurance linked to mobile phones in Brazil: unweighted and weighted provider share of partnerships, 2015 68

Manufacturer and retailer schemes for extended warranties and insurance linked to mobile phones in Brazil: combined analysis of weighted provider share of partnerships, 2015 69
Risk coverage of all schemes for extended warranties and insurance linked to mobile phones in Brazil, 2015 70
Approximate market value and policies in force for extended warranties and insurance linked to mobile phones in Brazil, 2011 and 2015 72
Volume of mobile phone subscriptions and subscriptions per capita in Brazil, 2015 and 2019 (forecast) 73
Number of individuals owning a mobile phone in Brazil and their weighting within the total population, 2015 and 2019 (forecast) 74
Approximate market value and policies in force for extended warranties and insurance linked to mobile phones in Brazil, 2015 and 2019 (forecast) 75

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