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 | Nov 2015

Peak hour: Ongoing growth in the number of motor vehicles supports premium growth

IBISWorld’s Car Insurance market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

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 11-16
Annual Growth 16-21
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Industry Analysis & Industry Trends

The past five years have been characterised by declining investment returns and the rising number of natural disasters. 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 put pressure on profit margins. Despite these trends, industry profitability has risen, largely due to the low profit base following the Queensland floods in 2010-2011. Over the five years through 2015-16, industry revenue is forecast to grow at an annualised 2.5%... purchase to read more

Industry Report - Starting a New Business Chapter

Barriers to entry into the industry are considered high. The Car Insurance industry is an established industry with many major players that have a strong position in certain areas of the market. Consumer trust is paramount to success in the industry, meaning that new players with no history of good records will find it difficult to secure new contracts. In the same line, long-time operators generally have a long record of satisfied customers, reinforcing the reputation of incumbent players and making it harder for new operators to succeed.

Another difficult barrier to overcome is compliance with regulations set by overseeing bodies... 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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