Home and dry: Operators have raised premiums, causing industry profit to increase

IBISWorld’s Home and Contents 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.


Industry Analysis & Industry Trends

The Home and Contents Insurance industry has grown strongly over the past five years, recovering from a turbulent period. The Queensland floods of 2010-11 and a series of other natural disasters soon after has provided a low base from which insurers have grown. Industry profitability was adversely affected by the unprecedented level of claims arising from the floods, which caused several billion dollars in damages. Insurers were forced to raise premiums significantly to cope with the increased level of risk and to recover the profit that was eroded by the flood. On the back of rising premiums, industry revenue is forecast to grow at an annualised 4.8% over the five years through 2016-17. Industry revenue is projected to rise by 4.3% in 2016-17 to reach $9.3 billion...

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What is the Home and Contents Insurance industry?

The Home and Contents Insurance industry exhibits a low level of capital intensity. For every dollar paid as wages, an estimated $0.11 spent on capital investment. The industry is labour-intensive, due to the complex nature of the product offering. Industry employees are typically highly educated with good communication skills, both of which are necessary to advise, sell, and deliver a complicated product. There is a large amount of administrative work, due to the paperwork required for claims processing and the maintenance of customer accounts. While this has some scope for automation, it is not expected to be reduced significantly, due to the specific nature of each claim and each customer need...

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Products & Brands

Major products in this industry
Strata insurance
Disaster insurance
Contents insurance
Liability insurance
Examples of brands in this Industry
NRMA Insurance
Elders 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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