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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 2015

Riding high: The industry benefits from an increase in motorcycle numbers

IBISWorld’s Motorcycle Insurance market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

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
$430m
Annual Growth 11-16
5.8%
Annual Growth 16-21
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Profit
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Employment
254
Businesses
43
Industry Analysis & Industry Trends

Despite the uncertain economic climate, the Motorcycle Insurance industry has been growing at a strong pace over the past five years. Consumers have taken up motorcycles as the rising world price of crude oil has made the upkeep of cars more expensive. More people have been adopting motorcycles as their main form of transport, which has contributed to the strong growth of the industry over the past five years. This trend has been most significant in the eastern seaboard capital cities, which have larger populations and more traffic congestion. These conditions have prompted consumers to purchase motorcycles for increased manoeuvrability and ease of parking.

Large insurance companies have capitalised on the growing number of motorcycles... purchase to read more

Industry Report - Industry Key Buyers Chapter

The Motorcycle Insurance industry is characterised by a medium level of market share concentration, with the four largest operators accounting for an estimated 64.7% of industry revenue in 2015-16. A large portion of this is attributable to the industry's two largest players, Suncorp and IAG, which account for an estimated 51.1% industry revenue in 2015-16.

Market share concentration has been increasing due to the amount of consolidation occurring as a result of mergers and acquisitions within general insurance. In addition, establishment numbers are expected to remain largely unchanged over the next five years as companies focus on their online business operations... 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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