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 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 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 - Industry Locations Chapter

The geographic spread of businesses in the industry generally follows that of the population spread and vehicle occurrences in Australia. New South Wales is estimated to house 40.6% of industry establishments, generating 42.2% of industry revenue. Revenue in New South Wales is proportionately more than the percentage of establishments as the average premium paid by NSW drivers is higher than in other states. This can partly be attributed to a higher proportion of claims made in the state. Queensland is the second largest state in terms of revenue, closely followed by Victoria and then Western Australia. The remaining states generate less than 10.0% of industry revenue combined... 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 insurance

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