Overview

Peak hour: Ongoing growth in the number of motor vehicles drives premium growth

IBISWorld’s Car 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

Industry Analysis & Industry Trends

The Car Insurance industry has grown steadily over the past five years, but has been characterised by falling investment returns and a rising number of natural disasters. As the frequency of natural disasters has risen, so has the frequency of insurance claims. Although insurers have been able to pass on the rising costs to policy holders, the time lag between the new premium prices and payouts has weighed on profit margins and driven industry profitability down over the period. Industry revenue is expected to grow at an annualised 2.5% over the five years through 2016-17...

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What is the Car Insurance industry?

The Car Insurance industry is in the growth stage of its life cycle. Industry value added (IVA), which measures an industry's contribution to the economy, is forecast to grow at an annualised 4.3% over the 10 years through 2021-22. This represents an outperformance of overall GDP, which is projected to rise at annualised 2.6% over the same period, indicating the industry's contribution to the overall economy is increasing.

Continued growth in the number of motor vehicles is expected to contribute to steady growth in premium income. Improving investment conditions are likely to also play a large part in boosting the industry's contribution to the economy, particularly with the projected rise in the cash rate over the next five years. As...

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Products & Brands

Major products in this industry
Commercial motor vehicle insurance
Private motor vehicle insurance
Compulsory third-party motor vehicle insurance
Examples of brands in this Industry
NRMA Insurance
RACV
SGIC
SGIO
Shannons
Suncorp Metway
Vero Insurance
AAMI
Bingle
Just Car Insurance

Table of Contents

About this Industry

Industry Definition
Main Activities
Similar Industries
Additional Resources

Industry at a Glance

Industry Performance

Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle

Products & Markets

Supply Chain
Products & Services
Major Markets

Globalisation & Trade

Business Locations
Competitive Landscape
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry

Major Companies

Operating Conditions

Capital Intensity

Key Statistics

Industry Data
Annual Change
Key Ratios

Jargon & Glossary

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