Industry Analysis & Industry Trends
Road to recovery
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 like 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 Key Buyers Chapter
IBISWorld estimates that the four largest industry operators account for 44.3% of industry revenue in 2012, indicating that the Automobile Insurance industry has a medium level of concentration. Many of the industry's largest firms, including State Farm Insurance Companies and Allstate Insurance Company, offer a wide range of property, casualty and direct insurance products.
Concentration has marginally increased during the past five years as a result of industry consolidation. In the five years to 2012, IBISWorld estimates that the number of firms operating in the industry has declined at an average of 1.8% annually to 1,988. During that time, the largest industry firms have grown organically and through acquisition. For... purchase to read more