Prepared for Andrew S. | Delivered August 2, 2020
Australian B2B Automotive Insurance Market
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Gain an understanding of the automotive insurance market in Australia, with a focus on motivations within the business to business market, for OEM, dealers, and fleet segments in order to inform a content strategy for a client (
Commercial automotive insurance is the
third largest commercial insurance secto
r in Australia, after property and liability insurances.
The commercial motor vehicle insurance industry has
over the past five years in Australia.
Reasons for this steady growth
include the demand for commercial road transport and favorable investment returns for businesses owning vehicles, such as fleet and dealerships.
Australia's government has also
invested in road infrastructure
and support for the commercial road transport sector, which has encouraged companies to use and purchase business vehicles.
Revenue in the commercial auto insurance space is projected to grow
3.1% per year, to $2.9 billion by 2020 in Australia.
Companies with the
largest market shares
within the commercial motor vehicle insurance space are
Insurance Australia Group Limited,
Group Limited, Allianz Australia Limited and QBE Insurance Group Limited.
Fleet cars are sold more than cars to individuals in Australia, representing
52% of car purchases
Small and medium enterprises
purchase and insure the most fleet cars, using them to transport both employees and goods.
584,895 fleet vehicles
were purchased in Australia in 2017, as well as an additional 35,849 heavy commercial vehicles.