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The GCC mobile phone insurance market is currently witnessing strong growth. Mobile phone insurance provides reimbursement to the cell phone user against financial losses, which are beyond the control of the insured party. It usually offers coverage against theft, accidental damage, water damage, high repair cost, cracked screens and other broken parts. At present, due to the increasing sales of smartphones and the rising instances of robbery, mobile phone insurance is gaining traction in different parts of the GCC region.
The increasing utilization of smartphones, along with the growing focus of individuals on safeguarding their mobile devices, represents one of the major factors escalating the demand for mobile phone insurance in the GCC region. Moreover, the emergence of multichannel interaction and direct-to-consumer insurance assistance is bolstering the market growth. Apart from this, leading insurance providers are focusing on online insurance platforms and offering a paper-free process from purchase to claims of the policy. They are also providing mobile data and virus protection plans, which is anticipated to propel the market growth in the coming years. On account of these factors, the market is expected to continue its strong growth during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the GCC mobile phone insurance market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, phone type, coverage, distribution channel and end user.
Breakup by Phone Type:
Breakup by Coverage:
Breakup by Distribution Channel:
Breakup by End User:
Breakup by Country:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
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