Frequently asked questions
Our clients are APRA and or ASIC-regulated entities writing insurance business in Australia. They are insurers, reinsurers, MGA’ or Coverholders.
This differs for each of our clients but in most cases, our clients have a limited appetite for an Australian physical operation where there is the need for significant investment in personnel and related resources. Additionally, given the specialised nature and efficiencies developed through scale, it is often not economical for clients to internalise.
Most of our clients typically have local management (CEO or Country President) an underwriting team, claims team (or TPA arrangement) with links back to support teams in Asia, the UK, Europe, or America.
We don’t provide claims, marketing, underwriting, or actuarial services. As most of our clients are competitors, we strictly do not provide these services, this enables Littlewoods to provide its unique services.
Minimum 3 months for once-off and project engagements through to a minimum 1 year for more holistic engagements for APRA-regulated entities. For most clients, the typical engagement ranges from 10-15 years.
Yes, minimum fees are set and based on client type and service type.
Depending on the engagement type, Littlewoods fees are typically a combination of time cost and fixed.
Littlewoods has been providing dedicated services strictly to the insurance and reinsurance industry for more than 67 years and has advised and supported many global and local insurance operations. Littlewoods has an outstanding proven track record of providing local expertise, experience and execution.
Littlewoods has been in business for more than 60 years, it has decades of experience in the various insurance, reinsurance and MGA structures, regulatory requirements, systems, processes and procedures. Over the years, it has and continues to refine its services and advisory to provide our clients with the best service and support to navigate the Australian insurance industry. We effectively become part of your team, your expertise and local presence.