Smartphone Kill-Switch Could Save Consumers $2.6 Billion

itwbennett (1594911) writes "Creighton University professor William Duckworth has released a report finding that kill-switch technology that remotely makes a stolen smartphone useless could save American consumers up to $2.6 billion per year — mostly from reduced insurance premiums. Duckworth estimated that Americans currently spend around $580 million replacing stolen phones each year and $4.8 billion paying for handset insurance. If a kill-switch led to a sharp reduction in theft of phones, most of the $580 million spent on replacing stolen phones would be saved. And a further $2 billion in savings could be realized by switching to cheaper insurance plans that don't cover theft."