Australia’s risk insurance industry stands to benefit again in 2010 from an increase in expected written premiums and following on from a bumper 2009.

According to preliminary findings from the CoreData Risk Study 2009 17.9% of advisers expect to increase the amount of insurance written with their main risk provider by more than 20% over the next 12 months.

In fact more than a third of advisers (36.8%) are expecting to boost their business with their preferred insurance company by more than 10% – this is due to 18.9% of advisers predicting growth of between 11% and 20% with their primary provider.

This is positive news for the industry after commentary in media and other circles that the impressive rise in activity and written business over the past year has been due the insurance providing advisers with a counter-cyclical revenue source for underperforming investment markets.

In 2008 the CoreData Risk Study identified 10.2% of advisers were expecting to significantly increase their written premium levels, while 33.6% anticipated somewhat increasing their revenue from insurance.

This rang true with the insurance market for risk and personal insurance experience a notable jump in growth over the past year.

With advisers remaining bullish as to their activity levels – only 5.8% predict a fall off in business levels over the next year – the insurance industry can brace itself for more growth.

However with a series of eApps launching and relaunching of late, companies need to remain mindful of the degree that they are making adviser’s lives easier and less cumbersome when it comes to writing insurance.

Clearly there are opportunities for success in 2010 but a few negative experiences could send advisers looking to more receptive groups out there in the market.