AXA Partners and AXA Partners’ are to offer mobile phone cover in the UK and Ireland. Quoting figures from Finaccord, part of Aon, AXA said the global mobile phone insurance market could be worth almost £13bn ($17.1bn) this year after a decade in which the proportion of phone users with insurance cover grew to 28% from just 3%. The move is part of Pier Insurance expansion into new markets, including telecoms, utilities and home services.
AXA Partners and Pier Insurance are to offer mobile phone cover in the UK and Ireland. Quoting figures from Finaccord, part of Aon, AXA said the global mobile phone insurance market could be worth almost £13bn ($17.1bn) this year after a decade in which the proportion of phone users with insurance cover grew to 28% from just 3%. The move is part of AXA Partners’ expansion into new markets, including telecoms, utilities and home services.