Industry Analysis & Industry Trends
Despite a spate of financial shocks and a recovering economy, the Motorcycle Insurance industry has been accelerating at a comfortable pace over the five years through 2012-13. Consumers have taken up motorcycles as the increasing world price of crude oil has made the upkeep of cars tougher. More people adopting motorcycles as their main form of transport has provided a buffer against falling investment returns as a result of volatile financial markets. This trend has been most significant in coastal cities along Australia's eastern seaboard that have a large population concentration and high levels of traffic congestion and pollution. These conditions have prompted consumers to purchase motorcycles for increased manoeuvrability in large cities... purchase to read more
Industry Report - Starting a New Business Chapter
The Motorcycle Insurance industry has high barriers to entry due to the oligopolistic nature of the market and the extent of government regulation. The major players have become highly entrenched and established throughout their many years of operation. The top two players, Suncorp and AIG, control an overwhelming majority of the market. The reputation, brand name, scope of products and national reach of these major players makes it difficult for new entrants with no history of good records to secure contracts, especially from existing policyholders and more experienced motorists.
The extent of regulatory compliance poses another significant barrier to entry... purchase to read more