What's Your Insurance Smartphone App-Titude? (Business Trends)
Florida Underwriter 2010, March
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Smartphone users, particularly the zealous followers of Apple's iPhone, are passionate about their devices. After all, how many consumer products can transform into something totally new for a few extra dollars, or better yet, for free? By shopping the 140,000-plus applications at Apple's App Store, you can turn your phone into a flute, a magnifying glass, a carpenter's level, a bar code scanner, a jogger's odometer--even pay your car insurance premium. The iPhone and rival smartphones are no longer perceived as just expensive toys for posting tweets and uploading YouTube videos. Market demographics have clearly captured the attention of financial services companies. Business users outnumber consumers 2 to 1, according to NielsenWire. While the market is broadening, users are predominantly male between ages 25 and 34 who earn more than $100,000 a year--making them good risks and excellent candidates for selling and servicing financial products.