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

The study draws on extensive primary and secondary research covering 77 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 / furniture / home outlets, speciality retailers and variety retailers). Hence, it provides a comprehensive overview of this activity across Colombia.

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 Colombia 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 and weighted 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: to what extent has this form of distribution developed in Colombia and who are the main competitors in this respect?

- forecasts for the value of the market 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 Colombia
EXTENDED WARRANTIES AND INSURANCE FOR MOBILE AND NON-MOBILE CONSUMER PRODUCTS IN COLOMBIA

TABLE OF CONTENTS
00 EXECUTIVE SUMMARY 1
10 INTRODUCTION 3
What is this report about?3
Rationale3
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 channels4
Methodology4
Manufacturer and retailer survey 4
The survey covers over 70 manufacturers and retailers of mobile and non-mobile consumer products4
Market data 5
Distribution channels for retailers5
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 revenues7
Operating models 7
Weighted shares8
PartnerBASE and market data annexe 8
Finaccord9
20 WHITE GOODS10
Introduction10
Underlying market value and volume11
The value of Colombia's white goods market advanced between 2011 and 2015 11
Manufacturers' original warranty length and consumer law12
Manufacturers of white goods in Colombia limit their factory warranties to a one-year duration…12
Manufacturer schemes for extended warranties and insurance 13
… and only one has introduced an extended warranty program13
Retailer schemes for extended warranties and insurance14
Almost a half of major white goods retailers promote extended warranty schemes14
with AIG, Cardif and MAPFRE all having picked up mandates in this respect 14
Combined analysis for manufacturer and retailer schemes 16
Risk coverage of all schemes for extended warranties and insurance17
Cover for accidental damage is regularly available through extended warranties for white goods17
Independent distribution channels 17
At least four firms allow consumers to purchase various types of white goods cover directly from them17
Market value for extended warranties and insurance 18
Market forecasts to 2019 19
Over 7 million items classifiable as white goods are likely to be sold in Colombia in 2019… 19
which will help boost the market for related extended warranties20
30 BROWN GOODS21
Introduction21
Underlying market value and volume22
The Colombian brown goods market registered modest growth between 2011 and 201522
Manufacturers' original warranty length and consumer law23


A significant number of brown goods manufacturers offer more than a one-year guarantee… 23
Manufacturer schemes for extended warranties and insurance 24
… but only one has developed an extended warranty scheme24
Retailer schemes for extended warranties and insurance25
Extended warranties are quite often available from retailers of brown goods…25
…with the leading providers similar to those identified for white goods cover 25
Combined analysis for manufacturer and retailer schemes 27
… and with the combined analysis driven by partnerships with retailers 27
Risk coverage of all schemes for extended warranties and insurance28
Cover for accidental damage is available with most extended warranties for brown goods 28
Independent distribution channels 28
Market value for extended warranties and insurance 29
Market forecasts to 2019 30
Colombia's market for brown goods is predicted to experience faster growth up to 2019…30
… which will help to support growth in the related extended warranty market 31
40 GREY GOODS32
Introduction32
Underlying market value and volume33
The value of the Colombian grey goods market declined slightly between 2011 and 2015 33
Manufacturers' original warranty length and consumer law34
The majority of manufacturers of grey goods stick to providing a one-year factory warranty34
Manufacturer schemes for extended warranties and insurance 35
Half a dozen manufacturers of grey goods have introduced extended warranties…35
… all of which are managed internally as opposed to through external partners 35
Retailer schemes for extended warranties and insurance37
The supply structure for retailer warranties for grey goods is almost identical to that for brown goods37
Combined analysis for manufacturer and retailer schemes 39
The leading provider accounts for a weighted share of over 70% of the total39
Risk coverage of all schemes for extended warranties and insurance40
Over a half of extended warranties for grey goods incorporate cover for accidental damage 40
Independent distribution channels 40
Market value for extended warranties and insurance 41
Market forecasts to 2019 42
A moderate rise in the volume of sales of grey goods is possible between 2015 and 2019…42
… albeit the associated extended warranty market seems likely to decline in value43
50 MOBILE GADGETS44
Introduction44
Underlying market value and volume45
The value of the Colombian mobile gadget market surged by almost 40% between 2011 and 201545
Manufacturers' original warranty length and consumer law46
Three mobile gadget manufacturers offer an original guarantee that lasts longer than one year…46
Manufacturer schemes for extended warranties and insurance 47
… and three run extended warranty schemes… 47
… all of which they manage themselves 47
Retailer schemes for extended warranties and insurance49
Demand for separate theft cover creates additional opportunities for partnerships…49
… such as those held by The Warranty Group, RSA and Seguros Mundial50
Combined analysis for manufacturer and retailer schemes 52
The combined analysis implies that close to a half of the market is held by the leading provider52
Risk coverage of all schemes for extended warranties and insurance53
Cover for accidental damage is usually available through mobile gadget policies 53
Independent distribution channels 53
A further independent option is provided by the ‘corriente debil' portfolio of ACE Seguros53

Market value for extended warranties and insurance 54
Market forecasts to 2019 55
Both the value and volume of the mobile gadget market will achieve further growth through to 201955
… and this will help to sustain the associated market for mobile gadget insurance56
60 MOBILE PHONES57
Introduction57
Underlying market volumes58
The number of mobile subscriptions rose by more than a quarter between 2011 and 2015… 58
with almost 40 million individuals believed to own at least one mobile handset in the latter year59
Manufacturers' original warranty length and consumer law60
No mobile phone manufacturers offer an original warranty of longer than one year…60
Manufacturer schemes for extended warranties and insurance 61
… and none have introduced any kind of extended protection 61
Retailer schemes for extended warranties and insurance61
There are at least a dozen schemes for mobile phone insurance or extended warranties in Colombia…61
… among which those managed by AXA Colpatria deliver the highest weighted share of partnerships 62
Combined analysis for manufacturer and retailer schemes 64
Risk coverage of all schemes for extended warranties and insurance64
Cover has not yet been introduced for either airtime abuse or loss 64
Independent distribution channels 65
Celuseguro provides an additional option for consumers seeking cover from an independent source65
Market value for extended warranties and insurance 65
Market forecasts to 2019 67
Mobile phone subscriptions will continue to rise at a steady rate between 2015 and 2019 67
causing the mobile handset penetration rate to also increase further68
The value of the mobile phone insurance market is liable to expand quite substantially through to 2019 69

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