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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 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
$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 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 70.3% 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 55.4% 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

 


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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