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 - Industry Key Buyers Chapter
The Motorcycle Insurance industry is defined by a high level of market share concentration, with the four largest operators estimated to account for 77.1% of industry revenue. Most of this is due to the overwhelming dominance of the industry's two largest players, Suncorp and AIG, which together are expected to account for 65% of market share.
There has been a trend towards increasing market concentration due to the amount of consolidation occurring as a result of mergers and acquisitions. In addition, establishment numbers are expected to decline over the next five years as companies enhance their online business operations. Even so, the industry is in a growth life cycle phase due to the increasing popularity of motorcycles... purchase to read more