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Mobile Gadget Insurance and Extended Warranties in Europe is a report about the market for insurance and extended warranties sold in conjunction with mobile gadgets in 20 countries: Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Ireland, Italy, Netherlands, Norway, Poland, Portugal, Romania, Russia, Spain, Sweden, Switzerland, Turkey, and the UK. Mobile gadgets are defined as camcorders, cameras, portable (laptop or notebook) computers and portable media players with no conventional mobile telephony facility. Mobile gadget insurance and extended warranties can cover one or more of accidental damage, loss, technical breakdown and / or theft. The report draws on extensive primary and secondary research covering 1,165 organisations involved in the production and distribution of mobile gadgets including manufacturers, specialised retailers of consumer electronics, mobile network operators (where they sell mobile gadgets as well as phones), supermarkets and other types of retailer (e.g. department store / variety retailers). The PartnerBASE™ dataset that accompanies the report logs each of almost 600 schemes for manufacturer or retailer extended warranties or insurance, showing both the operating model used and partners employed for programs that are not managed internally.

Table Of Contents

Mobile Gadget Insurance and Extended Warranties in Europe
0.0 EXECUTIVE SUMMARY 1
1.0 INTRODUCTION 4
What is this report about? 4
Rationale 4
Evolving distribution channels both favour and compromise extended warranty provision 4
Methodology 4
Manufacturer and retailer survey 4
The survey's scope covers the vast majority of significant manufacturers and retailers of mobile gadgets 4
Distribution channels for retailers 6
Market data 6
Exchange rates 6
Definitions 7
Extended warranties and insurance 7
Extended warranties and insurance linked to consumer products come in a variety of formats… 7
…and are frequently marketed to consumers under alternative titles 7
Premiums and other revenues 8
Operating models 8
Weighted shares 8
PartnerBASE and market data annexe 9
Finaccord 9
2.0 EUROPEAN OVERVIEW 11
Introduction 11
Underlying market value and volume 12
Across the 20 countries, expenditure on mobile gadgets rose by over 20% between 2009 and 2013… 12
…with France, Germany and the UK accounting for almost a half of the total market value in 2013 13
Provision of extended warranties and insurance by manufacturers and retailers 16
Retailer extended warranty and insurance schemes are more numerous than manufacturer programs 16
Retailers selling both offline and online are most likely to promote mobile gadget cover 18
Manufacturer schemes for extended warranties and insurance 20
Close to a half of manufacturers of mobile gadgets investigated have a scheme up and running… 20
… and a few of these incorporate additional insurance elements 20
The Warranty Group holds the most partnerships with mobile gadget manufacturers 23
Retailer schemes for extended warranties and insurance 25
Among retailers, the program provision rate is also close to 50% when viewed across all 20 countries 25
Over two thirds of these initiatives are outsourced entirely to an external partner… 25
… although internally-managed schemes are most numerous in Belgium, Ireland and Romania 25
When viewed at a pan-European level, the supply structure is chronically fragmented 28
Analysis for manufacturer and retailer schemes combined 30
Across all types of scheme, SPB and The Warranty Group are likely to be Europe-wide market leaders… 30
… followed by a variety of multiline and specialist insurers plus Apple, HP, Lenovo and Samsung 30
Risk coverage of all schemes for extended warranties and insurance 32
Cover for accidental damage and theft is increasingly available within mobile gadget cover… 32
… most visibly in Poland and Sweden and least so in Finland and Romania 32
Independent distribution channels 35
Independent providers of stand-alone mobile gadget cover are active in 12 out of the 20 countries 35
Market value for extended warranties and insurance 36
The market for mobile gadget extended warranties and insurance has changed greatly in recent years… 36
… as a result of several factors that have influenced consumer behaviour across all countries… 36
… and that have probably triggered a fairly significant decline in the overall market value… 38
…although a shift in the nature of cover acquired has diminished the impact of falling take-up rates 38
Although it has fallen back in value, the UK market remains comfortably the largest in Europe 39
Growth in the market value is likely to have occurred in eight of the 20 countries researched 40
Europe-wide, the market for mobile gadget cover is worth about 1.88% of the underlying gadget market 42
Market forecasts to 2017 44
Growth in the underlying market value will continue to 2017, albeit at a slower rate than from 2009 to 2013 44
Among larger countries, the outlook is most positive in Italy, Poland, Russia and Turkey 44
The main structural shift in take-up rates in this market has probably occurred already… 47
… which means that its value will be fairly stable between 2013 and 2017 49
By 2017, the Italian market may have overtaken those of France and Germany in terms of its value 50
Key data tables 52
3.0 AUSTRIA 55
Introduction 55
Underlying market value and volume 56
Austria's mobile gadget market increased in value by over 10% between 2009 and 2013 56
Manufacturers' original warranty length and consumer law 57
No mobile gadget manufacturers offer a guarantee of longer than two year from the date of purchase 57
Manufacturer schemes for extended warranties and insurance 58
Most extended warranty programs run by manufacturers of mobile gadgets are operated internally 58
AIG outranks London General Insurance in the weighted analysis of partnerships 58
Retailer schemes for extended warranties and insurance 60
More than three quarters of retailers of mobile gadgets in Austria offer extended warranty or insurance cover .. 60
ACE European Group benefits from its partnership in this field with mobile network operator A1 60
Risk coverage of all schemes for mobile gadget insurance 62
Most schemes cover accidental damage but many fewer either loss or theft 62
Independent distribution channels 62
Stand-alone cover can be acquired from assona, iDoctor and several multiline insurers 62
Market value for extended warranties and insurance 63
Market forecasts to 2017 64
The mobile gadget market is set for further (albeit slower) growth up to 2017… 64
… although a lower take-up rate may cause stagnation in the mobile gadget insurance market 65
4.0 BELGIUM 66
Introduction 66
Underlying market value and volume 67
Over 500,000 more gadgets were sold in Belgium in 2013 than in 2009 67
Manufacturers' original warranty length and consumer law 68
A majority of mobile gadget manufacturers offer an original guarantee lasting two years 68
Manufacturer schemes for extended warranties and insurance 69
London General Insurance holds two key manufacturer partnerships in this field 69
Retailer schemes for extended warranties and insurance 71
Retailer approaches to mobile gadget insurance split between two basic operating models… 71
… with several different external partners active in this sphere 71
SPB has acquired CAP.Protection, merging its Belgian business with its own operations in that country 71
Three external firms rank among the top five providers by weighted share of partnerships 72
Risk coverage of all schemes for mobile gadget insurance 74
Less than a half of mobile gadget schemes offer protection for risks other than technical failure 74
Independent distribution channels 74
Belgian consumers can acquire cover for their mobile gadgets from several other sources 74
Market value for extended warranties and insurance 75
Market forecasts to 2017 76
Belgium's market for mobile gadgets will continue growing, albeit at a slower rate 76
Several factors mean that the related extended warranty and insurance market may decline in value 76
5.0 CZECH REPUBLIC 78
Introduction 78
Underlying market value and volume 79
The Czech Republic's mobile gadget market increased in value by over 10% between 2009 and 2013 79
Manufacturers' original warranty length and consumer law 80
No mobile gadget manufacturers offer a guarantee of longer than two year from date of purchase 80
Manufacturer schemes for extended warranties and insurance 81
Most of extended warranty programs offered by manufacturers of mobile gadgets were operated internally .. 81
Retailer schemes for extended warranties and insurance 83
40% of retailers of mobile gadgets in the Czech Republic offer extended warranty or insurance cover 83
Allianz was found to have three partnerships with retailers 83
Risk coverage of all schemes for mobile gadget insurance 85
Most schemes are focused on breakdown cover rather than protection for insurable risks 85
Independent distribution channels 85
Market value for extended warranties and insurance 86
Market forecasts to 2017 87
Both the value and volume of the German mobile gadget market will continue to rise through to 2017… 87
… this will generate a modest growth in the extended warranty and insurance market 88
6.0 DENMARK 89
Introduction 89
Underlying market value and volume 90
Denmark's mobile gadget market increased in value by 13% between 2009 and 2013 90
Manufacturers' original warranty length and consumer law 91
No mobile gadget manufacturers offer a guarantee of longer than two years from the date of purchase 91
Manufacturer schemes for extended warranties and insurance 92
In several cases, mobile gadget manufacturers work with external warranty or insurance providers 92
Retailer schemes for extended warranties and insurance 94
A clear majority of retailers of mobile gadgets in Denmark offer extended warranty or insurance cover… 94
… and there is no shortage of suppliers seeking to work with them 94
Risk coverage of all schemes for mobile gadget insurance 96
Cover for loss is not available in any case and cover for theft in just a few 96
Independent distribution channels 96
Market value for extended warranties and insurance 97
Market forecasts to 2017 98
By 2017, the expenditure of Danish consumers on mobile gadgets may have exceeded DKK 6 billion… 98
… which will help to sustain the related extended warranty and insurance market 99
7.0 FINLAND 100
Introduction 100
Underlying market value and volume 101
Between 2009 and 2013, the value of the mobile gadget market went up by over EUR 100 million 101
Manufacturers' original warranty length and consumer law 102
There is a near-equal split between one-year and two-year original guarantees 102
Manufacturer schemes for extended warranties and insurance 103
Eight mobile gadget manufacturers manage their extended warranties on a purely internal basis 103
Retailer schemes for extended warranties and insurance 105
Three external partners are in evidence in this arena 105
Risk coverage of all schemes for mobile gadget insurance 107
Most mobile gadget protection in Finland is restricted to extended warranty cover 107
Independent distribution channels 107
Market value for extended warranties and insurance 108
Market forecasts to 2017 109
By 2017, Finns will be spending more than ever on the underlying mobile gadgets… 109
… but probably not on associated extended warranties or insurance 110
8.0 FRANCE 111
Introduction 111
Underlying market value and volume 112
The value of the French mobile gadget market rose substantially between 2009 and 2013 112
Manufacturers' original warranty length and consumer law 113
A very clear majority of mobile gadget manufacturer original warranties last for one year 113
Manufacturer schemes for extended warranties and insurance 114
Extended warranties are on offer from 11 of the manufacturers researched… 114
with three insurers and one broker involved in some of these schemes as external partners 114
Domestic and General usurps London General Insurance as first-ranked external provider in weighted terms 116
Retailer schemes for extended warranties and insurance 116
Extended warranty or insurance programs are available from over 60% of retailer brands… 116
with over 20 external insurers and brokers involved in the market 116
As in other fields, SPB runs multiple schemes in partnership with several different underwriters 117
Asurion has entered the French market by means of a partnership with Bouygues Telecom… 117
… although there are multiple other extended warranty and insurance intermediaries active in the market .. 117
Internally-managed schemes for mobile gadget insurance are in evidence for a dozen retailers 119
By weighted share of partnerships, SPB is a fairly unambiguous leader in this market 119
Anacap Financial Partners took an equity stake in AssurOne in June 2014 119
The French business of Domestic and General remains small but it has been growing quickly 119
Other local specialists include EGA Innoserve, SAV Group and SFG… 119
… with the latter firm having been acquired by Wertgarantie in March 2014 119
SPB has created a distinctive image for itself as an international affinity insurance broker 120
Over 40% of its total revenues in 2013 were due to partnerships with mobile network operators 120
Risk coverage of all schemes for mobile gadget insurance 121
Over a half of schemes cover accidental damage but fewer cover theft and hardly any loss 121
Independent distribution channels 121
At least ten independent distributors are visible in this market, including several major banks… 121
… although mobile gadget cover is rarely bundled automatically with banking products 122
Market value for extended warranties and insurance 122
Market forecasts to 2017 124
The value and volume of the mobile gadget market will grow further, but at a slower rate than before 124
For various reasons, the outlook for mobile gadget extended warranties and insurance is less positive 125
9.0 GERMANY 126
Introduction 126
Underlying market value and volume 127
Germany's mobile gadget market increased in value by over 20% between 2009 and 2013 127
Manufacturers' original warranty length and consumer law 128
Only one mobile gadget manufacturer offers a guarantee of longer than two years from date of purchase 128
Manufacturer schemes for extended warranties and insurance 129
Acer, Apple and Dell all work with external insurance partners 129
Retailer schemes for extended warranties and insurance 131
A significant proportion of retailers of mobile gadgets offer extended warranty or insurance cover 131
AXA, Domestic and General and Wertgarantie hold the most retailer partnerships in this sphere 131
Domestic and General's revenues in Germany have been expanding quite rapidly 132
Wertgarantie sold more than 50,000 new policies in 2013 relative to new sales in the previous year 133
Risk coverage of all schemes for mobile gadget insurance 133
Many schemes provide cover for accidental damage and theft as well as technical failure 133
Independent distribution channels 134
There are at least nine independent providers of mobile gadget cover in Germany… 134
… including Friendsurance-Alecto which has introduced the concept of online peer-to-peer insurance… 135
… and assona, which was bought by SchneiderGolling and Cie in March 2013 135

Market value for extended warranties and insurance 136
Market forecasts to 2017 137
Both the value and volume of the German mobile gadget market will continue to rise through to 2017… 137
… although this will not necessarily generate growth in the extended warranty and insurance market 138
10.0 IRELAND 139
Introduction 139
Underlying market value and volume 140
Ireland's mobile gadget market moved up in value by around EUR 25 million between 2009 and 2013 140
Manufacturers' original warranty length and consumer law 141
Only one mobile gadget manufacturer offers a guarantee of more than two years from date of purchase 141
Manufacturer schemes for extended warranties and insurance 142
Several manufacturers add externally sourced insurance cover to internally-managed extended warranties 142

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