ARPC publishes 2023 Terrorism Pool Insurer Customer Survey results 

20 March 2024

Australian Reinsurance Pool Corporation (ARPC) has published the results of its 2023 Terrorism Pool Insurer Customer Survey conducted by ORIMA Research. The Survey is part of an annual process that seeks to understand how customers perceive ARPC and measure the effectiveness of its stakeholder engagement activities. 

The Survey’s Terrorism Pool Stakeholder Perceptions Index (T-SPI) achieved 76 per cent, which is a favourable perception of ARPC overall and slightly up on 75 per cent in 2022. The T-SPI is derived from three questions: To what extent do you feel ARPC is an effective provider of terrorism risk insurance? To what extent do you believe ARPC supports your organisation’s financial strength? To what extent do you feel ARPC is a valued partner to your organisation? 

Insurer customer perceptions of ARPC as an organisation to deal with remain very strong. More than 90 per cent of respondents describe ARPC as being transparent (96 per cent), a trusted expert on terrorism reinsurance (92 per cent), and easy to deal with (91 per cent) to a large extent.  

Perceptions of ARPC’s communications and engagement is also very strong, with 99 per cent describing face-to-face meetings as good or very good, as did 94 per cent for digital B-to-B communications, 91 per cent for the ARPC website, and 87 per cent for ARPC publications. 

Common words to describe ARPC were effective, essential, partnership and accommodating.  

In terms of ‘value’, insurer customers distinguish between ARPC being seen as a valued partner (88 per cent feel this is true to at least a large extent, up from 73 per cent in 2022)) and supporting their organisation’s financial strength (where 59 per cent feel this is true to a large or moderate extent, up from 39 per cent in 2022).  The comments noted that ARPC does its role well – but for some insurers it is not realistic to think that it significantly supports their overall financial strength.  

Methodology 

The ARPC/ORIMA Insurer Customer Survey was conducted as a short online survey in 2020-22. In September-October 2023, to boost participation and the depth of information, the largest Australian terrorism pool insurer customers were invited to take part in a semi-structured interview process.  

A small number of questions about the new cyclone pool were included in 2022 and a separate cyclone pool insurer customer process commenced in 2023.  

The full survey report is published here. 

For media inquiries, please contact Alexander Drake on (02) 8223-6777 or [email protected]