subject: Ensquared Insurance World [print this page] Ensquared the #1 phone insurance company on the Internet is in a tough business. It is a difficult process convincing consumers when there are so many misconceptions, misunderstandings and miscalculations surrounding phone insurance decisions.
The first thing to appreciate is that a cell phone is not a house or immovable property. On the surface it is the last thing any underwriter likes to cover. iPhone insurance, Smartphone insurance or iPad insurance has one thing in common: They all link into portable, very small devices that move around at tremendous pace (as fast as people move). And they get used incessantly, sometimes under strained circumstances where the stability of the mechanism is suspect. Bottom line of all this is: The incidence of accidental damage (spills, drops, cracked screens, general mishaps), mechanical failure (from overuse), lost and stolen (expensive devices that the "have nots" want to extract from the "haves") is inordinately high. The more expensive the device and the more recognizable the cell phone or tablet brand, the more the chances of claims against a policy.
For all the above reasons running a phone insurance business involving popular subsets like Galaxy Nexus insurance, iPhone insurance, iPad insurance and every branded Smartphone insurance you can think of is not for just anyone. Its for Underwriters who know how to control the risk of wireless coverage; its for claims administrators who can detect fraudulent claims when they occur (fraud is a perennial hazard in the business); its for Internet marketers like Ensquared who have interfaced with consumers looking for coverage of their wireless devices for years.
The market for Ensquared and its competitors is changing before our eyes. Here are some of the paradigm changes we interface:
Smartphones are replacing dumb phones at a rapid rate.
Therefore prices of devices are escalating as technology caters to personal life requirements more and more.
Devices getting smaller, thinner, sleeker, technologically easier to use
Subsidies of the big carriers are under pressure as emerging competitors squeez the fees for contracts.
Thus accelerating the trend to buying of unlocked devices both locally and internationally and then deciding on the carrier.
This leaves a traditional gap as the carriers, while willing to insure their own sold devices, are not willing to insure devices outside of their retail arena.
Which means that Asurion, who had the traditional cell phone insurance tied in with all the traditional carriers like AT&T, Verizon, Sprint and T Mobile are losing their grip. The Internet becomes a bigger force by the day.
Ensquared as # 1 for cell phone insurance is in the midst of this watershed. It is positioned to take advantage of the shift in market forces and become a force in its own right. As consumers begin to realize the true value of their Smartphone and Tablet and the true risk, the more they will insure. They will find that carriers are not the willing sellers of coverage and that they are also not the cheapest or the best by any stretch of ones imagination
by: iphone insurance
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