Australian Reinsurance Pool Corporation today released the results of ARPC’s first survey of its insurer customer stakeholders conducted by ORIMA Research.
Overall, the survey results indicated that ARPC is largely delivering on its vision, is a valuable and important partner, a trusted expert and is communicating and engaging well.
In ARPC’s 2020-24 Corporate Plan, the agency said it would develop and launch a stakeholder engagement survey to set a baseline for measuring effectiveness while using the results to improve stakeholder outcomes.
Conducted by ORIMA in November and December 2020, the short online survey was sent to ARPC’s 225 insurer customers, 36 of which are in Australia and 189 based overseas.
The survey design was guided by a senior executive workshop which identified several ‘Big questions’: Are we delivering on our vision? What do our customers think of us? Does ARPC represent value for money? Does ARPC engage effectively with stakeholders?
Key survey findings included that:
- 97 per cent respondents overall (Australia and overseas) believe ARPC is an effective provider of terrorism risk insurance
- 98 per cent agree ARPC is a trusted expert on terrorism reinsurance
- 96 per cent agree ARPC is easy to deal with and 89 per cent agree ARPC is transparent
- Respondents rated ARPC’s publications and digital business to business communications strongly, particularly Australian respondents
- 80 per cent found the ARPC insurer customer review process very or somewhat useful
Despite the strong overall results, the survey revealed Australian respondents (who account for 90 per cent of ARPC’s premium income) are much more engaged with ARPC than overseas respondents. Some Australian respondents said they would welcome more discussion and contact outside of insurer customer reviews (audits).
ARPC CEO Dr Christopher Wallace said: “ARPC has committed to this annual survey of our insurer customers so we can gauge feedback and make improvements that benefit customers.
“ARPC would like to thank ARPC insurer customers for their strong overall support of ARPC and looks forward to making continuous improvements in their interests.”
The full survey report is published here.
For media inquiries, please contact ARPC CEO Dr Christopher Wallace on (02) 8223-6777 or [email protected]