Overview
The first quarter of 2024…
Between January and March 2024, we:
- hosted a stakeholder forum to explore opportunities to enhance the CTP claim experience for people who have been injured
- conducted our annual strategic plan review to ensure our activities bring maximum impact for our motorists, claimants and stakeholders
- visited MAIC-funded researchers at Griffith University’s Centre of Biomedical and Rehabilitation Engineering to hear the latest updates on their impactful BioSpine initiative
- completed the annual actuarial CTP Risk Premium assessment, including stakeholder presentation and consultation.
From April to June 2024, we will:
- conduct a survey of current and recent claimants to understand their experience of the claims process and how we might improve it
- continue to progress improvements to assist injured people progressing their CTP claim, especially around obtaining a medical certificate and submitting the claim form to insurers
- continue our active program of management to stamp out claim farming activity (noting this is already materially lower than pre-legislative reforms)
- actively support road safety initiatives to reduce the incidence of road crashes, including a road safety education and awareness program in a Townsville region.
To stay informed:
Explore our graphs below to learn more about our scheme’s performance.
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Premium
CTP premium breakdown
CTP insurance premiums remain the most affordable in mainland Australia at a time when cost of living is front of mind for Queenslanders. The insurers’ premium which forms part of total CTP premiums decreased by a modest 3 cents over the last 12 months.
New claims
Number of new claims per quarter
The number of new claims lodged between January and March 2024 was slightly lower than the previous quarter but consistent with seasonal trends.
Proportion of claims added per quarter
The percentage of claimants lodging their claims directly with insurers remains higher than usual, as insurers continue in promoting their initiatives to assist those injured on Queensland roads.
Number of claims added per quarter by severity
The severity profile of CTP insurance claims remained stable, with 1,548 claims for minor injury and 309 claims for moderate or above injuries.
CTP insurers
Insurer market share
With the exit of RACQ from the CTP industry, all their CTP policies are being transferred from the next vehicle registration renewal date to the three remaining licensed insurers. QBE’s market share has grown from about 7% to 15%; Allianz has grown from about 23% to 32%; and Suncorp’s market share has grown from 45% to 53%.
New registrations through motor dealers
Proportions of new registrations through motor dealers are shifting in line with market share for the three CTP insurers.
Legally-represented claimants – average claim duration (months)
We continue to monitor insurers’ legislative compliance and claims management practices, including claim durations and stages of settlement. Where variations exist between insurers, we collaborate with insurers to understand and address the reasons behind it. The duration of a claim can be influenced by injury severity, circumstances around liability, evidence gathering and claims management approach.
Direct claimants – average claim duration (months)
Direct claimants will often experience a shorter claim duration when compared with those who lodge their claims through legal representatives. This additional length of time can often be attributed to people seeking legal assistance when the nature of their claim is more complex.
Traffic volume
Average growth rates in traffic flow compared to corresponding months in 2019
South-East Queensland traffic volumes remain below pre-COVID levels, with non-South East Queensland volumes also trending lower.
Vehicle registration
Number of registered vehicles by vehicle class
The number of vehicles registered in Queensland continued to increase which is expected as Queensland’s population grows. Class 26 booked hire vehicles continued to show strong growth while class 4 hire cars remains relatively unchanged.
Learn more
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