Insurers report high levels of satisfaction with the Australian Reinsurance Pool Corporation but want more information on the rationale behind decisions.

About 99% say they have a good or very good working relationship with the ARPC, which manages the cyclone reinsurance pool and the terrorism pool. 

The ARPC’s 2024-25 Insurer Customer Survey interviewed 75 insurer customers and found they want to know why decisions are made, particularly on pricing, plus simplified data and information requirements, reminders sent for key dates and renewals, and a streamlined audit process. 

They also see a need to educate the sector and wider community on how reinsurance works and the impact it can have on insurance premiums. 

Chief executive Chris Wallace says the corporation is working to improve its data and analytics capability. 

The ARPC scored highly on professionalism (96% satisfaction), knowledge (91%) and customer focus (88%).  

The survey was conducted by Orima Research in June and comprised an online survey and video interviews. The reinsurance manager or person with the closest working relationship with the ARPC had to endorse and submit answers. 

The response rate was 37%, with a 72% rate among cyclone pool insurer stakeholders and 34% among terrorism pool insurer customers, which the ARPC says probably reflects greater activity and interaction with the former facility. 

The ARPC updated its survey content, so the results are not directly comparable with previous years. 

See the survey report here.