Car Insurance in Australia: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Car Insurance Market Research Report | Advisory & Financial Services | Specialist Insurance Lines | Mar 2015

Premium growth: Increasing demand and investment income will benefit insurers

IBISWorld’s Car Insurance market research report can be used to help you: understand market size and growth potential; major companies; draft business plans and pitch books; and conduct benchmarking and SWOT analysis. Our industry analysis highlights macro industry trends in the overall sector and micro trends faced by companies that do business in the industry. The industry report also provides key industry statistics and 5-year forecasts to anticipate future industry prospects so you can decide with confidence.

Report Snapshot
Market Share of Companies
Allianz Australia Allianz Australia market share
Insurance Australia Group Insurance Australia Group market share
QBE Insurance Group QBE Insurance Group market share
Suncorp Group Suncorp Group market share
Industry Statistics & Market Size
Annual Growth 10-15
Annual Growth 15-20
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Industry Analysis & Industry Trends

The past five years have been characterised by declining investment returns and consecutive seasons of destruction. As the frequency of natural disasters has risen, so has the frequency of insurance claims. Although insurers have been able to pass on the rising costs to policy holders, the time lag between the new premium prices and payouts has caused profit margins to decline substantially. The rise in claimants has been compounded by poor investment income because of the low-yield environment. Weak economic conditions have driven up demand for bonds and other high-quality fixed-income assets that insurers are heavily invested in. Together, these circumstances have resulted in weak revenue growth... purchase to read more

Industry Report - Industry Investment Chapter

The industry's capital intensity is medium. For every dollar of capital investment made, an estimated $8.00 is spent on labour. Although technological change is low, the technological requirements of insurers are relatively high. The computing power necessary to support the business is high due to the nature of the complex transactions that occur on a daily basis. This is seen through improvements to the varied systems needed for claims management, brokerage and actuarial analysis. Further, having timely access to information is crucial in helping the business assess its investment positions daily. Consequently, the investment in various software and programs is relatively high compared with human capital expenditure... purchase to read more


Industry ProductsRelated ReportsTable of Contents

What is the Car Insurance Industry?

This industry underwrites (i.e. assuming the risk and assigning premiums) car insurance policies. Car insurance provides financial protection against physical damage to automobiles and bodily injuries resulting from traffic collisions. Car insurance can also protect against resulting liability.

Industry Products
Commercial motor vehicle insurancePrivate motor vehicle insuranceCompulsory third party motor vehicle insurance
Industry Activities
Underwriting compulsory third party motor vehicle insuranceUnderwriting private motor vehicle insuranceUnderwriting commercial motor vehicle insuranceUnderwriting compulsory third party motor vehicle insuranceUnderwriting private motor vehicle insuranceUnderwriting commercial motor vehicle insurance

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