Car Insurance in Australia - Industry Market Research Report
Description
Car Insurance in Australia - Industry Market Research Report
Car Insurance in Australia
The Car Insurance industry has grown over the past five years. However, falling investment returns over the first half of the period, the soaring costs of new car repairs, rising damage from natural disasters, and the COVID-19 pandemic have negatively affected the industry. As the frequency of natural disasters has increased, so too has the frequency of insurance claims. However, insurers have passed on rising costs to policyholders, allowing industry profitability to grow over the past five years. Industry revenue is expected to grow at an annualised 0.8% over the five years through 2022-23, to reach $24.9 billion. This trend includes an anticipated decline of 1.6% in the current year as the retail petrol prices rose sharply due to rising global oil prices, leading to fewer motor vehicles on the road.
The industry underwrites car insurance policies. Car insurance provides financial cover for physical damage to automobiles and bodily injuries as a result of traffic collisions. Car insurance can also protect against liability as a result of accidents.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Car Insurance in Australia
The Car Insurance industry has grown over the past five years. However, falling investment returns over the first half of the period, the soaring costs of new car repairs, rising damage from natural disasters, and the COVID-19 pandemic have negatively affected the industry. As the frequency of natural disasters has increased, so too has the frequency of insurance claims. However, insurers have passed on rising costs to policyholders, allowing industry profitability to grow over the past five years. Industry revenue is expected to grow at an annualised 0.8% over the five years through 2022-23, to reach $24.9 billion. This trend includes an anticipated decline of 1.6% in the current year as the retail petrol prices rose sharply due to rising global oil prices, leading to fewer motor vehicles on the road.
The industry underwrites car insurance policies. Car insurance provides financial cover for physical damage to automobiles and bodily injuries as a result of traffic collisions. Car insurance can also protect against liability as a result of accidents.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
Table of Contents
41 Pages
- 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
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Pricing
Currency Rates
Questions or Comments?
Our team has the ability to search within reports to verify it suits your needs. We can also help maximize your budget by finding sections of reports you can purchase.