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Recently Released Market Study: Personal Accident and Health Insurance in Australia, Key Trends and Opportunities to 2017

New Insurance market report from Timetric: "Personal Accident and Health Insurance in Australia, Key Trends and Opportunities to 2017"

 

Boston, MA -- (SBWIRE) -- 09/09/2013 -- The Australian personal accident and health insurance segment recorded the fastest growth at a CAGR of 7.5% in the overall insurance industry during the review period. The growth was partly due to increased medical expenditure, which fuelled the health insurance category, and the strong performance of the travel insurance category, which grew at a CAGR of 9.6% during the review period. This was further supported by the country's improved macro- and microeconomic fundamentals. These indicators are likely to remain buoyant and drive the overall segment growth over the forecast period. As such, the personal accident and health segment is expected to increase at a CAGR of 6.5% over the forecast period.

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Key Highlights

- In terms of gross written premiums, the Australian insurance industry is considered one of the fifteen leading insurance industries in the world and one of the ten leading insurance industries in the Asia-Pacific region
- A large proportion of Australians do not have access to private health insurance
- Direct marketing is critical for development in the segment. The popularity of the direct marketing channel was driven by the increasing use of mobile phones
- APRA is the regulatory body for insurance and is authorized to issue and retract the licenses of stakeholders such as insurance companies, agents and brokers
- The personal accident and health insurance segment in Australia is highly concentrated

Scope

This report provides a comprehensive analysis of the personal accident and health insurance market in Australia:

- It provides historical values for Australia's personal accident and health insurance market for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key sub-segments in Australia's personal accident and health insurance market, along with market forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
- It analyses the various distribution channels for personal accident and health insurance products in Australia
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Australia for the personal accident and health insurance business
- It provides a detailed analysis of the reinsurance market in Australia and its growth prospects
- It profiles the top personal accident and health insurance companies in Australia and outlines the key regulations affecting them

Reasons to Get This Report

- Make strategic business decisions using historic and forecast market data related to the Australian personal accident and health insurance market and each sector within it

Companies Mentioned in this Report: BUPA Australia Health Pty Ltd, Medibank Private Ltd, The Hospitals Contribution Fund of Australia Ltd, HBF Health Ltd, NIB Health Funds Ltd, Australian Unity Health Ltd, Australian Health Management Group Pty Ltd, Teachers Federation Health Ltd, GMHBA Ltd, Defence Health Ltd

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