Overview

Keep on trucking: Strong demand for road transport has contributed to industry growth

IBISWorld’s Commercial Motor Vehicle 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

Industry Threats & Opportunities

  • Online comparison tools have affected the industry, as customers become more price-conscious
  • Government infrastructure investment will help road transport maintain its competitive advantage

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    Industry Analysis & Industry Trends

    The Commercial Motor Vehicle Insurance industry's performance has been supported by steady growth in revenue from premiums over the past five years, despite investment revenue gradually declining. While the industry derives the majority of its revenue from insurance premiums, many operators rely on investment income to strengthen their profit margins. As a result, revenue typically fluctuates to a greater degree than underlying demand for commercial motor vehicle insurance, which tends to exhibit stable growth. Industry revenue is expected to increase at an annualised 3.2% over the five years through 2016-17. This includes anticipated revenue growth of 2.5% in 2016-17, to $3.6 billion...

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    What is the Commercial Motor Vehicle Insurance industry?

    The performance of the Commercial Motor Vehicle Insurance industry reflects the complex nature of the wider General Insurance industry. Many industry firms have enjoyed largely favourable operating conditions over the past five years. Industry revenue is expected to increase at an annualised 3.2% over the five years through 2016-17, to $3.6 billion. This includes a smaller anticipated increase of 2.5% in 2016-17, due to expected falls in the 10-year bond rate. While industry players tend to achieve fairly steady growth in premium revenue, a large portion of their income is derived from investment markets. Investment revenue can be more volatile than premium revenue, accounting for many of the fluctuations in industry revenue from year to year. Inv...

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    Additional Insights for the Commercial Motor Vehicle Insurance Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Commercial Motor Vehicle Insurance Industry are

  • Ability to effectively manage risk
  • Maintenance of excellent customer relations
  • Management of quality investment portfolio
  • IBISWorld analysts also discuss how external factors such as Demand from road transport and Number of motor vehicles in the Commercial Motor Vehicle Insurance industry impact industry performance..

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    Products & Brands

    Major products in this industry
    Commercial motor vehicle insurance
    Compulsory third-party insurance
    Public commercial motor vehicle insurance
    Examples of brands in this Industry
    CIC Allianz
    National Transport Insurance
    NRMA Insurance
    RACV
    SGIC
    SGIO
    Swann Insurance
    CGU
    Elders Insurance
    GIO
    InsureMyRide
    Just Car Insurance
    AAMI
    APIA
    Australian Alliance
    Bingle
    Vero Insurance
    Shannons
    Promina Group

    Table of Contents

    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Demand from road transport
  • Number of motor vehicles
  • year bond rate
  • All Ordinaries index
  • Total capital expenditure

  • Current Performance
  • Industry structure
  • Online avenues
  • Safety
  • Chart: Revenue Growth

  • Industry Outlook
  • Trading landscape
  • Road Transport
  • Value added
  • Table: Commercial Motor Vehicle Insurance Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Commercial Motor Vehicle Insurance Industry Lifecycle vs The Economy

  • Products & Markets
    Supply Chains
    Key Buying Industries
  • Iron Ore Mining
  • Road Freight Transport
  • Taxi and Limousine Transport
  • Passenger Car Rental and Hiring
  • Finance
  • Transport Equipment and Large Vehicle Rental

  • Key Selling Industries
  • Financial Asset Investing
  • Insurance Brokerage

  • Products & Services
  • Commercial motor vehicle insurance
  • Compulsory third-party insurance
  • Public commercial motor vehicle insurance
  • Chart: Commercial Motor Vehicle Insurance Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Transport, postal and warehousing firms
  • Services firms
  • Construction, agriculture and mining firms
  • Rental firms
  • Health care firms
  • Manufacturing firms
  • Other sectors
  • Chart: Major Market Segmentation for the Commercial Motor Vehicle Insurance Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Net incurred claims expense
  • Underwriting expense
  • Outward reinsurance expense
  • Wages
  • Rent, utilities, depreciation and other
  • Chart: Cost Structure Benchmarking – Sector vs Commercial Motor Vehicle Insurance

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Commercial Motor Vehicle Insurance Industry

  • Industry Globalization
    Major Companies
    Insurance Australia Group LimitedSuncorp Group LimitedAllianz Australia LimitedQBE Insurance Group Limited
  • Table: Insurance Australia Group Limited - financial performance
  • Table: Suncorp Group Limited - financial performance
  • Table: Allianz Australia Limited - financial performance
  • Table: QBE Insurance Group Limited - financial performance

  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Commercial Motor Vehicle Insurance Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Key Statistics
    Table: Industry Data for the Commercial Motor Vehicle Insurance Industry
    Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Jargon & Glossary
    Ceding
  • When an insurance company passes on a portion of its risk to reinsurers.
  • Ctp Insurance
  • Short for compulsory third-party insurance, which is an obligatory insurance that covers personal injuries inflicted on people (other than the drivers) that are involved in an accident.
  • Fleet Insurance
  • A specialised type of motor vehicle insurance usually purchased by business operators that own more than 15 vehicles.
  • Underwriting
  • The measurement of risk exposure and pricing of a premium accordingly, to manage the insurer's exposure.
  • Why buy this report?

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Commercial Motor Vehicle Insurance:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Commercial Motor Vehicle Insurance market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Commercial Motor Vehicle Insurance, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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