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Motorcycle Insurance in Australia: Market Research Report

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

Motorcycle Insurance Market Research Report | Advisory & Financial Services | Specialist Insurance Lines | Sep 2014

Smooth ride: Increasing demand for comprehensive insurance spurs revenue growth

IBISWorld’s Motorcycle 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
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
Revenue
$375m
Annual Growth 10-15
3.8%
Annual Growth 15-20
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Profit
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Employment
252
Businesses
42
Industry Analysis & Industry Trends

Despite a spate of earlier financial shocks and a recovering economy, the Motorcycle Insurance industry has been accelerating at a comfortable pace over the five years through 2014-15. Consumers have taken up motorcycles as the increasing world price of crude oil has made the upkeep of cars more expensive. 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 the 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... purchase to read more

Industry Report - Industry SWOT Analysis Chapter

The Motorcycle Insurance industry is in the mature stage of its life cycle. Despite the number of motorcyclists is increasing and demand for insurance products is growing, competition is rising, pushing the industry into a mature phase. However, new distributional channels are generating growth as many large insurers partner with websites to issue insurance. The industry's contribution to the overall economy is expected to grow at an annualised 2.2% over the ten years through 2019-20, underperforming the Australian real GDP, which is forecast to grow by 2.7% over the same period... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Motorcycle Insurance Industry?

This industry underwrites (i.e. assuming the risk and assigning premiums) motorcycle insurance policies. Motorcycle insurance provides financial protection against physical damage to the vehicle and bodily injury resulting from traffic collisions. It can also protect against resulting liability.

Industry Products
Comprehensive insuranceThird party insuranceCompulsory third party insurance
 
Industry Activities
Underwriting comprehensive motorcycle insuranceUnderwriting compulsory third party motorcycle insuranceUnderwriting third party motorcycle insuranceUnderwriting comprehensive motorcycle insuranceUnderwriting compulsory third party motorcycle insuranceUnderwriting third party motorcycle insurance


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