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 September quarter 2001. 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 September quarter 2001. This means that the September quarter 2001 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 the September quarter level.

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)

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Quarter Av Premium Claim freq (qtr) Av claim size (qtr) Cost per policy (qtr)
Mar-2001 99.3 99.1 101.4 98.3
Jun-2001 101.3 101.0 93.7 94.0
Sep-2001 102.0 103.0 94.0 94.9
Dec-2001 102.6 104.5 93.6 94.3
Mar-2002 103.9 105.1 91.9 91.8
Jun-2002 105.3 104.8 91.0 90.3
Sep-2002 105.5 104.4 91.7 91.0
Dec-2002 104.7 104.2 92.0 91.7
Mar-2003 103.8 104.1 90.0 89.3
Jun-2003 103.8 104.7 88.6 89.0
Sep-2003 104.4 105.5 89.3 92.3
Dec-2003 104.6 105.7 90.4 94.6
Mar-2004 104.4 105.1 89.5 91.4
Jun-2004 104.2 104.4 87.6 86.6
Sep-2004 104.5 104.3 87.7 86.5
Dec-2004 104.9 104.6 90.0 91.2
Mar-2005 105.4 104.9 91.3 92.7
Jun-2005 106.0 105.0 92.0 91.6
Sep-2005 106.5 104.8 92.6 90.9
Dec-2005 106.7 103.9 93.1 91.5
Mar-2006 106.6 103.0 93.4 91.4
Jun-2006 106.5 102.5 92.8 90.2
Sep-2006 106.6 102.4 92.0 90.0
Dec-2006 107.2 102.8 92.6 92.5
Mar-2007 108.0 103.4 92.5 92.7
Jun-2007 109.0 104.4 93.6 94.9
Sep-2007 109.8 106.1 96.2 100.5
Dec-2007 110.7 107.9 97.8 104.7
Mar-2008 111.4 109.3 96.9 102.5
Jun-2008 112.2 109.4 95.2 96.9
Sep-2008 113.3 108.3 93.3 93.1
Dec-2008 114.9 107.3 93.6 96.3
Mar-2009 116.8 107.6 92.9 99.1
Jun-2009 118.7 109.6 90.1 98.3
Sep-2009 119.9 113.3 88.6 101.1
Dec-2009 120.5 118.2 95.0 115.7
Mar-2010 120.9 122.9 103.7 129.3
Jun-2010 121.4 126.1 106.8 129.8
Sep-2010 122.1 126.4 103.0 119.4
Dec-2010 122.5 124.0 97.4 109.7
Mar-2011 122.6 120.9 96.1 108.2
Jun-2011 122.8 118.5 97.7 109.6
Sep-2011 123.4 118.0 99.8 113.3
Dec-2011 124.3 118.8 103.3 119.8
Mar-2012 125.5 119.5 104.6 120.6
Jun-2012 126.7 119.3 102.5 114.3
Sep-2012 128.0 117.9 100.4 108.6
Dec-2012 129.5 115.7 100.1 107.4
Mar-2013 130.9 113.5 100.8 107.6
Jun-2013 131.7 112.4 101.7 108.4
Sep-2013 132.0 112.4 103.4 112.3
Dec-2013 131.9 112.9 105.1 116.9
  • Source of underlying data: Insurance Statistics Australia. Updated February 7, 2014.
  • Original data has been indexed to the March quarter 2001 and trended using a 7 term Henderson moving average.
  • The data does not include State or Commonwealth Government taxes and charges.

 

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