Factors in calculating motor insurance

This is a pretty short study conducted by me to find out if the current motor insurance quotation system is fair and square for us consumers. The studies is conducted on the NTUC online motor insurance quotation system and the objectives of this studies is to find out if the following condition have any effect on the premium of the motor insurance.

-Age of rider
-Pass date of license
-Registration date of vehicle

The first step is to get a "base" quotation base on genuie details for a third party only motorbike insurance. Here is the details, (My personnal particular are blank out for privacy purpose).

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NTUC INCOME
MOTOR CYCLE QUOTATION

To:	***********
Nric:	S81********Z
Office Tel:	*********
Res Tel:	*********
Email:	****oron@yahoo.com
Repcode:
NCD(%):	0

Thank You for your enquiry. Our motor quotation is :

Cover Type:	Third Party
Insured Date of birth:	12-11-1981
Pass Date of Driving Licence :	11-12-2003
Occupation:	Indoor
Model:	Honda -
Commencement Date :	20-12-2005
Vehicle Registration No:	FZ**94Z
Registration Date:	10-07-2005
Capacity:	100 to 199 cc
No of Seater:	1
Usage:	Private Bike
Claims Experience:	Nil
Imported/Recondition:	N
Side Car:	N
Excess:	Nil
Gross Premium: S$512
Net Premium after 0% NCD and 10% direct discount:$461

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Hmm...third party insurance for my Honda Wave R was S$461 after a 10% complimentary discount from NTUC. Let say if I change the pass date of my riding license to indicated I am a experience rider with 5 years of good riding records, surely that will reduced the premium right?
---------------------------------------------------------------
NTUC INCOME
MOTOR CYCLE QUOTATION

To:	Roco Roco
Nric:	S********Z
Office Tel:	67564955
Res Tel:	91395568
Email:	*****oron@yahoo.com
Repcode:
NCD(%):	0

Thank You for your enquiry. Our motor quotation is :

Cover Type:	Third Party
Insured Date of birth:	12-11-1981
Pass Date of Driving Licence :	11-12-2000
Occupation:	Indoor
Model:	Honda -
Commencement Date :	20-12-2005
Vehicle Registration No:	FZ***4Z
Registration Date:	10-07-2005
Capacity:	100 to 199 cc
No of Seater:	1
Usage:	Private Bike
Claims Experience:	Nil
Imported/Recondition:	N
Side Car:	N
Excess:	Nil
Gross Premium: S$512
Net Premium after 0% NCD and 10% direct discount:$461

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Five years of experience under the belt prove to be worthless when it comes to insurance premium. So the variable applied to Pass date of driving license seems to have not much effect in the final premium. Very questionable. Now let say I am actually 30 years old, born in the year 1975 and no changes made to pass date of license.
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NTUC INCOME
MOTOR CYCLE QUOTATION

To:	Roco Roco
Nric:	S7537225Z
Office Tel:	67564955
Res Tel:	91395568
Email:	******n@yahoo.com
Repcode:
NCD(%):	0

Thank You for your enquiry. Our motor quotation is :

Cover Type:	Third Party
Insured Date of birth:	12-11-1975
Pass Date of Driving Licence :	11-12-2003
Occupation:	Indoor
Model:	Honda -
Commencement Date :	20-12-2005
Vehicle Registration No:	FZ***4Z
Registration Date:	10-07-2005
Capacity:	100 to 199 cc
No of Seater:	1
Usage:	Private Bike
Claims Experience:	Nil
Imported/Recondition:	N
Side Car:	N
Excess:	Nil
Gross Premium: S$329
Net Premium after 0% NCD and 10% direct discount:$296

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So here is a very very stereotypical perspective motor insurance company have, the older you are the safer you are on the road and the lower your premium despite only having you license for less than 2 years. It is exactly as opposite perspective to life insurance where the premium increase with age. So far the conclusion we have here is the system don't recongnize your riding experience (5 years was not even considered) but more on your age. Can old man ride better than a young chap with 5 years experience? Finally we decided to play around with the registration date of the motorbike.
---------------------------------------------------------------
NTUC INCOME
MOTOR CYCLE QUOTATION

To:	Tan*******
Nric:	S8******5Z
Office Tel:	9*******
Res Tel:	6******
Email:	******ron@yahoo.com
Repcode:
NCD(%):	0

Thank You for your enquiry. Our motor quotation is :

Cover Type:	Third Party
Insured Date of birth:	12-11-1981
Pass Date of Driving Licence :	11-12-2003
Occupation:	Indoor
Model:	Honda -
Commencement Date :	20-12-2005
Vehicle Registration No:	F****4Z
Registration Date:	10-07-1999
Capacity:	100 to 199 cc
No of Seater:	1
Usage:	Private Bike
Claims Experience:	Nil
Imported/Recondition:	N
Side Car:	N
Excess:	Nil
Gross Premium: S$301
Net Premium after 0% NCD and 10% direct discount:$271

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Hmm does that mean that an older bike which have went through years of wear and tear and engine that have went through much physical abuse is less of a hazard on road compare to a sparkling new bike with new breaks and new tires? Another big flaw in this quotation system.

I rest my case for you readers to add in your comments. I am sure with our collective comments, we can highlight the flaws in the premium quotation system of NTUC, AIG, AXA, MITSUI and any company selling motor bike insurance.