About Woodina Underwriting Agency
Woodina Underwriting Agency adds a new dimension to underwriting in Australia. Recognising the frustrations for brokers in obtaining quick turnaround of quotations for clients, whilst having the ability to discuss a risk with an underwriter rather than a “no touch” internet engine, we focus on speed of turnaround and flexibility.
At the same time, we don’t only sell ourselves on price. We believe there is more to insurance than that. We have introduced, for the first time in Australia, an in-house law firm claims model, which our CEO Michael Wood successfully applied in London from 1997 to 2006.
We differentiate ourselves on service:
Quotation turnaround - We aim for same day turnaround and urgent quotes within 2 hours.
Policy Documents - Instant issue of Policy Schedule, Wording and Certificate of Currency upon an Order being advised.
Declines - We aim to notify you of a declined risk within two hours, if it is not to our appetite. We won’t waste your time, especially if we can’t be of help.
Fewer Questions - Our Proposal Forms have been tailor made so as to simplify the process. We avoid asking questions which are only borderline relevant, if at all.
Flexible Approach - If there is a way to help, we will find it. Even if it doesn’t fit into a traditional “box”, we will try to make a box to fit. We are flexible in structuring cover for bigger or unusual risks or schemes.
Schemes - We are particularly attracted to scheme business, as our unique claims handling service then comes into its own.
Loyalty - We are loyal to our brokers. If you support us, we will support you. We act with integrity, as well as professionalism.
We aim to show that just because insurance has been underwritten basically the same way for generations, it does not mean there isn’t scope for improvement without solely relying on the internet. We like to think the old way does not need to be discarded - just improved.
Our People
Chief Executive Officer
(07) 3222 9401
michael.wood@woodina.com.au
Michael has 30 years’ insurance experience. Starting as an insurance lawyer at Morris Fletcher & Cross in Brisbane in 1985, he moved to London in 1990. He became a Partner at Waltons & Morse in 1993 and a Partner of Eversheds in 1996, specialising in PI insurance. In 1997 he launched his own PI underwriting agency called PI Direct, later Martello Professional Risks. The agency was unique in its approach, writing business both direct and through brokers, with an inhouse claims model saving on defence costs. It grew to 50M pounds gross premium and was sold to Royal Sun Alliance in December 2006. Michael had purchased a wholesale Australian PI insurance brokerage called PI Direct Insurance Brokers in 2004. After returning to Australia in 2011, Michael started Woodina Underwriting Agency in January 2012 and sold PI Direct Insurance Brokers into Steadfast in 2013.
