Industry Analysis & Industry Trends
The number of cars registered indicates industry demand for individual automotive insurance; therefore, an increase in car purchases will necessarily benefit automobile insurance providers. An increase in interest rates and renewed investment activity will also facilitate industry growth over the next five years. While discount retailers such as Geico and Progressive are expected to continue growing, pricing competition is set to cool as the economy slowly improves.... purchase to read more
Industry Report - Industry SWOT Analysis Chapter
The Automobile Insurance industry is in the mature stage of its economic life cycle; this stage is characterized by relatively few changes in product lines, stable major markets and intensified merger and acquisition activity. Industry value added (IVA), which measures an industry's contribution to the overall economy, is expected to increase at an annualized rate of 2.9% during the 10 years to 2019. In contrast, US GDP is projected to grow at an annualized rate of 2.7% during the same period. Typically, an industry is considered to be in the mature phase of its life cycle when growth in IVA trends with GDP growth over a 10-year period.
The industry offers a range of automobile coverage options, including liability, collision and comprehensive insurance products... purchase to read more