What is the Motorcycle Insurance industry?
The Motorcycle Insurance industry is currently in the mature stage of its life cycle. Industry value added, which measures the industry’s contribution to the economy, is forecast to grow at an annualised 0.7% over the 10 years through 2021-22. This represents an underperformance of overall GDP, which is projected to rise at an annualised 2.6% over the same period. This indicates the industry’s contribution to the economy is shrinking.
Despite the number of motorcyclists increasing and demand for insurance products growing, competition is also rising, pushing the industry into a mature phase. However, developments in online and mobile platforms are generating growth as many large insurers partner with aggregator and sales websites to issue insurance... purchase to read more