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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 | May 2013

Shifting gears: The industry increasingly focuses on young and online markets

IBISWorld’s Motorcycle 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
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
$368m
Annual Growth 08-13
3.4%
Annual Growth 13-18
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Profit
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Employment
312
Businesses
39
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

 


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 motorcycle insuranceThird party motorcycle insuranceCompulsory third party motorcycle 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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