Market Share

Life Insurance Report & Statistics

  • The Life Insurance Report covers Life Insurance industry sales and key business statistics relating to life offices in Australia.
  • Data Sets: Total Inflows (New Single Premiums plus In-Force Annual Premiums), Total Sales (New Single Premiums plus New Annual Premiums), New Single Premiums, In-Force Annual Premiums, New Annual Premiums, Annual Premium Discontinuances (Surrenders & Forfeitures).
  • Individual Risk Lump Sum sales by company are split into products: Term Life, TPD, Trauma - Stand Alone, Trauma – Rider. Individual Risk Income sales by company have been  split into products: Income, Protection – Agreed Value, Income Protection – Indemnity, Business Expense & Other.
  • History:  5 years in Report, 15 years in Spreadsheets, (Year End, Quarter End
  • Format:  Hardcopy Report + Softcopy report (PDF), Tables in Spreadsheets (MS Excel)
  • Published:  Quarterly (8-10 weeks after quarter end).

Risk Statistics Quarterly

  • Comprehensive reporting of risk products including lump sum products (term life, TPD, trauma), income protection and business expense insurances.
  • Data includes: In Force Premiums, New Single Premiums, New Annual Premiums,State Distribution, Distribution of Benefit and Waiting Periods: In force Individual Income Premiums, New Individual Income Premiums.
  • Reporting: Company split into: TPD Own Rider, TPD Any Rider, TPD Own Stand Alone, TPD Any Stand Alone, TPD Total, Term Life & TPD, Trauma Rider, Trauma Stand Alone, Total Trauma, Term Life TPD & Trauma, Other Lump Sum Risk inc Riders to Savings Products, Total Individual Risk Lump Sum.
  • History: Latest Quarter. History to September 2004 also available.
  • Format: Softcopy (Excel spreadsheets).
  • Published: Quarterly (8-10 weeks after quarter end).

Distribution Channels

Risk Distribution Channel Report

  • Distribution Channel Analysis splits the Risk Market Total Sales into separate channels by which products are distributed for Total Sales (inflows).
  • Product markets include: Risk Lump Sum,  Risk Income. Channels include: Life Office Aligned Dealer Groups, Non-Aligned Dealer Groups, Stock Brokers, Bank Aligned Dealer Groups, Direct & Other.
  • Data covers: Total Sales (inflows).
  • Reporting levels include: product market, group, company.
  • History: 3 years.
  • Format: Softcopy (Excel spreadsheets).
  • Published quarterly (8-10 weeks after quarter end).

Risk Consumer Segmentation

  • Consumer Segmentation splits the Risk Market Total Sales and Inflows into age ranges by which products are segmented.
  • Product markets include: Risk Lump Sum, Risk Income. Age Ranges include: 18-24, 25-34, 35-39, 40-44, 45-49, 50-54,55-64, 65 and over
  • Data covers: Total Sales Risk (Lump Sum, Risk Income), Inflows Risk (Lump Sum, Risk Income), Company Inflows Group Risk
  • Reporting levels include: group, company
  • History: 3 years.
  • Format: Softcopy (Excel spreadsheets)
  • Published quarterly (8-10 weeks after quarter end)

Forecast Projection

Forecast of the Life Insurance and Risk Markets

  • Scope: Individual Risk Lump Sum, Individual Risk Income and Group Risk.
  • Usage: The projections have been developed primarily as a source of industry comparative projections for 1 year Business and 3 to 5 year Strategic Planning. The projections are based on economic forecasting and assumptions developed for the projection.
  • Data: New Annual Premium, New Single Premium, In Force Premium, Discontinuances, Other Movements as well as Total Inflows and Total Sales.
  • Reports:  Three types: Best Estimate, Optimistic and Pessimistic projections.
  • Format: Excel, PDF
  • Published: Annual
  • Period:  10 year forecast

Lapses and Terminations

Lapse Industry Report

  • Ongoing independent lapse study for Sales Period 1/10/08 to 30/9/10, but with Lapses from 1/10/08 through to 31/12/12.
  • The most important factor in the latest Report is the removal of Direct Risk Insurance data, leaving the balance of the data to represent Dealer/adviser-driven business (independent Dealers, those owned or part owned by Life Companies and Bank-owned Dealers).
  • The data is based as far as possible on true Sales, excluding CPI and Age Increases. It intentionally does not represent all of the sales of the participating companies, as we asked that the data come from similar lines or new business series, again to achieve as much homogeneity and contemporaneity as possible. The principle behind the study has been to examine business which is both recent and represents the present status-quo as far as possible, rather than older business, which would have provided full exposure, but would have lacked the element of currency, that we were seeking.
  • Lapses results for Direct Risk market is covered in the Direct Insurance Report.

Life Insurance / Risk Termination Rates

  • Risk Product Termination Rates split by Life Office and Product Type.
  • Risk Products include lump sum and income protection.
  • In-force Premium $m, New Annual Premiums $m, Terminations & Other Movements $m, Total Number of Lives at Risk, Number of New Lives at Risk, Number of Terminations & Other Movements
  • Format: Excel
  • Published: Quarterly (10 weeks after quarter end)
  • History: Year End

Analysis of Risk Market Discontinuances

  • This report provides an analysis of Discontinuances, being the sum of Lapses, Surrenders and Forfeitures, in the Risk market over the past 4 years. Both Annual      Discontinuances in $millions and Rates expressed as a percentage of average In-force Annual Premiums over each year are covered.
  • Coverage: Individual Risk Lump Sum, Individual Risk Income, Group Risk
  • Published: Quarterly