Menu

GI Industry Trends - Motor Vehicle Insurance

The below table represents trends existing in motor vehicle insurance available within Australia. The Comprehensive Motor Vehicle Insurance series are derived by indexing the original data, provided by Insurance Statistics Australia, to the March quarter 2004. The indexed series is then smoothed by applying a moving average technique.

How to use this table

The numbers in the series do not represent dollar values or frequencies. They represent the percentage change in the index numbers between two consecutive or distant quarters. This provides an indication of the underlying trend change in premiums, claims frequency, claims size and cost per policy.

The value of each series is indexed to the March quarter 2004. This means that the March quarter 2004 value is assigned an index number of 100 and subsequent values of the series are assigned index numbers that show the percentage change in the series from that quarter.

The indexed series is then smoothed using a moving average technique, to remove short term volatility in the underlying series, making it easier to identify the underlying trend.

For example, if the average smoothed indexed premium at the Sept-10 quarter is 122.4 and the average smoothed indexed premium at the Sept-11 quarter is 123.5, premiums between the two distant quarters have risen by 0.89 per cent.

Formula:(123.5 -122.4 / 122.4) x 100 = 0.89

Download the Insurance Statistics Australia Comprehensive Motor Vehicle Insurance graphs

Comprehensive Motor Vehicle Insurance (National)

Download Table as PDF
Quarter Average Gross
 Premium
Average claim size (qtr) Claims frequency (qtr) Cost per Policy (qtr)
Mar-2004 99.8 98.9 97.5 96.5
Jun-2004 100.1 98.0 97.2 95.2
Sep-2004 100.4 98.8 98.1 97.0
Dec-2004 100.7 100.9 100.0 101.0
Mar-2005 101.2 102.4 100.1 102.5
Jun-2005 101.8 103.2 98.0 101.2
Sep-2005 102.3 103.9 96.6 100.6
Dec-2005 102.5 104.4 96.7 101.1
Mar-2006 102.3 104.7 96.3 101.0
Jun-2006 102.2 104.0 95.7 99.5
Sep-2006 102.4 103.0 96.2 99.0
Dec-2006 102.9 104.1 98.4 102.3
Mar-2007 103.7 104.8 98.6 103.2
Jun-2007 104.6 106.8 100.3 107.3
Sep-2007 105.5 110.7 104.3 116.1
Dec-2007 106.3 112.9 107.5 122.0
Mar-2008 107.1 111.4 105.8 118.3
Jun-2008 107.8 108.5 100.9 109.7
Sep-2008 108.8 105.5 98.4 103.7
Dec-2008 110.3 105.7 101.8 107.7
Mar-2009 112.2 105.0 106.0 111.3
Jun-2009 114.0 101.7 108.7 110.4
Sep-2009 115.2 99.8 113.3 113.3
Dec-2009 115.8 107.0 120.4 129.6
Mar-2010 116.3 116.9 123.7 144.8
Jun-2010 116.7 120.3 120.7 145.4
Sep-2010 117.3 116.0 114.8 133.6
Dec-2010 117.7 109.6 111.8 122.7
Mar-2011 117.8 108.0 112.0 121.0
Jun-2011 117.9 109.8 111.5 122.5
Sep-2011 118.5 112.0 113.0 126.8
Dec-2011 119.4 115.9 115.5 134.1
Mar-2012 120.5 117.3 114.8 134.8
Jun-2012 121.7 114.9 110.9 127.7
Sep-2012 123.0 112.7 107.7 121.5
Dec-2012 124.3 112.4 107.0 120.3
Mar-2013 125.6 113.3 106.3 120.5
Jun-2013 126.5 114.5 106.4 121.9
Sep-2013 126.8 115.4 108.4 125.3
Dec-2013 126.7 115.6 109.0 126.2
Mar-2014 126.5 114.3 105.6 120.7
Jun-2014 126.2 117.1 104.1 122.2
Sep-2014 125.8 122.7 107.4 132.8
Dec-2014 125.1 126.9 111.8 142.7
Mar-2015 124.2 126.7 110.8 140.8
Jun-2015 123.6 125.0 106.8 133.5
Sep-2015 123.4 124.0 105.2 130.3
Dec-2015 123.8 125.8 106.7 134.4
Mar-2016 124.6 127.9 106.2 135.8
Jun-2016 125.7 131.1 105.4 138.2
Sep-2016 127.0 133.4 107.7 143.7
Dec-2016 128.4 134.5 110.9 149.2
Mar-2017 129.8 134.6 110.3 148.6
Jun-2017 131.3 135.2 107.9 146.1
Sep-2017 133.0 135.3 107.1 145.1
Dec-2017 134.8 135.6 108.7 147.5
Mar-2018 136.5 136.4 109.4 149.4
Jun-2018 138.0 137.2 108.4 148.8
  • Source of underlying data: Insurance Statistics Australia. 
  • Original data has been indexed to the March quarter 2004 and trended using a 7 term Henderson moving average.
  • The data does not include State or Commonwealth Government taxes and charges.

 

×