Insurance Australia : Help economy now worth $32 billion with 1.4 billion hours of unpaid help provided by Australians

New research released today by NRMA Insurance reveals the economic value of unpaid help has increased by $2 billion since 2021, to a total value of $32 billion in 2022.

With Australia facing more natural disasters over the past two years than we have experienced in decades, acts of help have become a vital resource in enabling Australians to be better prepared and more resilient. This will become even more critical as a warmer climate continues to increase the frequency and severity of extreme weather events.

The 2022 edition of the NRMA Insurance Help Economy™ report, developed in partnership with PwC Australia, measures the value of structured volunteering as well as informal acts of help provided outside the home. The report found Australians have given their time generously with 1.4 billion hours spent helping others over the past year, equating to a 7% increase in value compared to 2021.

Despite the impressive value and volume of help provided this year, a help gap remains with 14.2 million Australians stating they want to help more and at least 5 million people admitting they need more help. Australians stated lack of time (49%), lack of resources (49%), and not knowing how to help (38%) were the biggest barriers to providing more help to others*.

As the severity and frequency of extreme weather continues to rise, the report showed nearly one third (29%) of Australians, or someone they know, experienced a severe weather event or natural disaster. Of those who were affected, more than half (56%) received help from someone outside their household, with 89% stating that the help they received enabled them to overcome the impacts incurred.

Yet, the report reveals Australians want to do more, with 45% of Australians frustrated they couldn't provide more help to those affected by severe weather this year.

NRMA Insurance Group Executive Julie Batch said: "As an insurer, we're here to help our customers when the worst happens, but we also see our role as helping people be better prepared before an event occurs so we can minimise the impact and be more resilient in recovery.

"The Help Economy reinforces what we see first-hand in the aftermath of severe weather - even simple, everyday acts of help can make a big difference in building more prepared, connected and resilient communities.

"That's why we've created the NRMA Insurance National Day of Help. On Wednesday 9 November, more than a thousand people from NRMA Insurance will be working with our community partners such as the Australian Resilience Corps and Australian Red Cross to help with preparedness and resilience activities in communities across Australia."

With 7.7 million Australians stating they want to help more but don't know how to, NRMA Insurance has developed a list of the 10 most effective acts of help. These include everyday activities that don't require experience, nor significant time commitment from Australians.

For those wanting to volunteer their time more formally, the Australian Resilience Corps, developed by Minderoo Foundation with founding partner NRMA Insurance, encourages Australians to rally together and join what will become the largest network of volunteers to prepare communities for fire and floods.

Ms Batch continued: "We hope our list of helpful acts and our own NRMA Insurance National Day of Help will inspire and make it easier for Australians to help more where they can."

The act of help itself is a powerful driver of community connection, and it can also increase its recurrence. The report revealed 8.6 million people feel that the help provided and/or received gave them a better understanding of the future needs of their community and consequently, the ways they can provide help.

PwC Australia Economics Partner Jeremy Thorpe said: "Based on the research and analysis conducted by PwC, help might seem like a funny thing to put a price on, but valuing help elevates it from a simple act to an important cultural currency.

"With Australia experiencing a third La Niña season in a row, tracking the real value of help means we can demonstrate the important contribution of both formal and informal help to the future resilience of the Australian economy and communities."

*PwC Australia Help Economy Survey, based on agree/disagree question with three options, Q: I want to help people more but (a) don't know how to go about it, (b) don't have the time, (c) don't have the resources to do so (money / transport); Respondents could agree to one or more statements, however only one response counted in 14.2 million; Responses were applied across the Australian population.

The top 10 most effective acts of help

The top 10 most effective acts of formal and informal help to best prepare for future severe weather events (in no particular order) have been developed from The Help Economy research, coupled with NRMA Insurance's expertise responding to wild weather events and working with community partners.

Providing emotional support	1. Checking in on elderly / vulnerable neighbours so that you understand how they're preparing for a natural disaster, and how you can best help.
2. Making connections with vulnerable or isolated people in your street so that in a natural disaster you're aware of their needs and vulnerabilities.
Lending a helping hand	3. Swapping phone numbers with your next door neighbours so you can keep in touch and coordinate your emergency plans.
4. Providing cooked meals, food items or clothes - especially if others in your neighbourhood have lost power and water supply.
Domestic work, home maintenance or gardening	5. Doing gardening or chores for an elderly neighbour to help reduce fuel load (for potential bushfires).
6. Take out your neighbours bins when they are away to help reduce fuel load (for potential bushfires).
Providing transport and running errands	7. Picking up groceries for those outside your household to make sure they're stocked up if they're temporarily cut off and unable to leave their home.
8. Doing a supply run to help your neighbour make a home emergency kit.
Community assistance	9. Making meals and dropping them at a local community centre or charity - especially if others in your neighbourhood have lost power and water supply.
Formal volunteering	10. Join a formal volunteer organisation like the Australian Resilience Corps. Visit www.resiliencecorps.org.au to find out more.

To read the full 2022 Help Economy Report, please see below: