I have almost everything in my wallet on my phone anyway. My health insurance pass even got replaced by an app ^1. I only carry my wallet in case my phone dies.
I’ve never heard of phones being snatched, that must be a regional thing. I’ve heard of people getting robbed or pickpocketed, but if someone can steal your phone they’ll probably also steal your wallet anyway.
^1 I’m still mad about this, when you’re ill in a foreign country they basically tell you to call insurance so they can explain that the card is rea