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Smartphone Adoption and Ensquared Insurance About to Explode(May 07, 2012)
DELRAY BEACH, FL -- (Marketwire) -- 05/07/12 -- Ensquared, the #1 authority in Smartphone and iPad Insurance, has recently studied industry and customer data and believes that Smartphone and Tablet adoption in the United States will explode within the next 2 to 5 years. As a result the demand for Tablet and Cellphone insurance should skyrocket.
The United States, always behind other 1st world countries when it comes to mobility, is now well on its way to becoming a leading force in the mobile space. Despite the adoption for Smartphones increasing by 46% over the last year, there are still around 150 million cell phone users within the USA that own and use a dumb legacy handset. Today Smartphone owners are mainly those within the age demographic of 18 to 44. Even more encouraging is the clear trend that global Internet users will double in the next few years. Most of this growth will take place via Mobile devices. Simply put, the Mobile revolution has just begun with lots more to come.
Prices of devices have remained at a constant as technology caters to the individual requirements more and more. Consumer dependency on Smartphones has become increasingly obvious due to functionality such as camera, video recording, application usage, email, web browsing, music, electronic books, calendars and social networking. Now, more than ever, consumers place value on their handheld devices.
Carriers have apparently scaled down the promotion of iPhone-based plans, preferring to promote LTE based Android handsets. This is due to a growing need to reduce consumer subsidies and garner capital cost savings when bundling such hardware with their wireless plans over a long contract term. "We believe that there will be more outright purchase of handsets, thereby necessitating your own devices in the carrier space in years to come. The big carriers have too much capex invested in handsets with large bad debt percentages," said Gordon Polovin, CEO of Ensquared.
Ensquared, with its online Smartphone and tablet insurance business in the USA and Canada, 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 devices and the true risk, the more they will insure.
About Ensquared Insurance: Ensquared is underwritten by Fortegra Financial -- a NYSE listed, AM BEST rated underwriter.
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