Few leaders think about underwriting the way Michael Wood does. He approaches professional indemnity (PI) and general liability (GL) not as transactions but as stories that unfold over time. That shift in perspective pushed him to examine how decisions made on day one echo through the life of a policy.
Woodina Underwriting Agency was built around that philosophy. It brings underwriting and legal defense into a single framework.
Although what Woodina does seems like the obvious path, it is a marked break from the industry’s norm, where most still separate underwriting and legal work into different sequences, each with its own interpretation, timing, and priorities.
Wood’s background in commerce and law showed him how judgments evolve, context changes, and that the intent behind decisions becomes harder to defend when underwriting and external legal processes operate at arm’s length.
His ideas first took shape in the UK with PI Direct, the first to bring underwriting and legal work within the same engine. After his success there, he returned to Australia and built Woodina, refining the model for the local PI/GL market.
Pure-cost defense made the structure even stronger. Every claim moves through its in-house legal practice, Martello Law. This discipline has reduced legal expenditure by 45 to 50 percent and delivered the consistency and fairness required to resolve long-tail claims.
Technology will never be a substitute for the broker relationship. Its role is to take the friction out of the placement process so brokers can stay focused on guiding their clients.
The Mechanics behind Loss-Ratio Stability
Aligning strategy, analysis and execution within an integrated structure creates continuity that reduces claims spend and creates a steadier loss ratio. That clarity gives underwriters the confidence to hold premiums steady across policy terms, even in classes where pricing usually shifts with volatility.
Brokers see the steadiness play out across their portfolios. The logic behind decisions remains intact from first notice to resolution, so renewal conversations arrive with fewer surprises. Brokers already know how matters progress inside Woodina’s system. Clients understand why a claim was handled the way it was and how it shapes their future exposure. Meetings feel more grounded, structured and aligned with the reasoning they have experienced before.
Over time, consistency becomes its own form of equity. When a claims model behaves the same way every time it is tested—same logic, same discipline, same clarity— professionals remember. Trust builds through market cycles and capacity shifts, becoming the foundation brokers rely on when recommending Woodina to clients who need reliability in a longtail environment.
Technology Designed to Remove Friction for Brokers
Technology has always been a core part of Woodina’s discipline. Wood learned early that PI/GL underwriting could move only as fast as their systems. He began stripping away friction long before the market required it. His early, phone-enabled underwriting platform in England signaled a simple truth— efficiency is not optional in long-tail lines—that continues to guide the approach in Australia.
That intent shapes how brokers interact with Woodina today. In high-volume SME portfolios, brokers need submission paths that move cleanly from proposal to decision. Woodina’s systems are designed to deliver exactly that; fast, structured inputs that reduce the administrative drag common in traditional placements.
Nearly 40 percent of Woodina’s PI/GL policies are now online at its broker portal, which simplifies the transaction. Submissions land in a structured format that minimizes backand forth and provides a straight path to a confirmed quotation. Insureds receive clear documentation and timely confirmation, while brokers maintain control over the client experience.
“Technology will never be a substitute for the broker relationship. Its role is to take the friction out of the placement process so brokers can stay focused on guiding their clients,” says Wood.
When One Agency’s Model Becomes a Market Framework
When Woodina’s model began gaining recognition, underwriting agencies across the market started asking the same question: How could they access a structure that delivered long-tail discipline without building an in-house legal practice of their own?
Woodina established Ivory Insurance as the answer that was needed, establishing it as a separate specialist insurer and approved by the Australian Prudential Regulation Authority in 2023. Ivory gives the wider market access to the same aligned, pure-cost framework that defined Woodina’s success while allowing them to retain their identity, portfolios and client relationships.
“It’s the next stage of my long-tail vision; an insurer designed for agencies that need disciplined claims management but cannot build the infrastructure themselves,” adds Wood.
Ivory’s strength is rooted in relationships that span over two decades. Wood’s long-standing ties with Lloyd’s of London— formed during the PI Direct years in England and strengthened through Woodina’s growth in Australia—gives Ivory access to Lloyd’s reinsurance capacity. That backing provides the financial strength essential to long tail PI/GL. When agencies write through Ivory, they do so with confidence that their portfolios are protected with strong capacity while their claims move through Martello Law’s integrated, pure-cost based model.
As well as Woodina, two other underwriting agencies already operate through Ivory, with more preparing to join as they seek predictable long-tail development without establishing internal legal practices. The model allows them to adopt Woodina’s discipline without replicating the cost or complexity, creating a pathway for agencies to improve outcomes without expanding overheads.
The model scales naturally into common-law markets. Regions such as New Zealand, the UK and Canada operate within legal frameworks that align with Woodina’s methodology, making expansion feasible without compromising the integrity of the model. Growth will remain measured, each step governed by whether the environment supports disciplined long-tail management. Long-term plans include extending Ivory’s reach by having it licensed in England and establishing a Lloyd’s syndicate there, which would then allow it to extend its reach to other countries, such as Canada. Ivory extends the reach of a system refined over decades. It enables other agencies to adopt a disciplined, evidence-led, pure-cost structure without compromising their own identity. Woodina’s integrated approach becomes more than a company advantage; it evolves into a structural blueprint for managing long-tail liability with clarity, fairness and consistency.
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We never default to speed. We default to getting the outcome right. That’s how you protect a professional’s reputation and make sure the outcome reflects the facts, not the convenience of a quick settlement.
A Single Thread of Judgment through Every Claim
Reliability at Woodina is built person by person. The underwriters, solicitors and technologists who begin a claim are the same ones who close it, keeping the logic formed on day one on course.
Retention strengthens inside a structure where people see the full arc of their decisions. Contribution is consistently recognized, supported by profit-based rewards that reflect accountability for long-tail liability demands.
Many of Martello Law’s younger solicitors and clerks have built their careers inside Woodina’s integrated environment, becoming practitioners fluent in underwriting intent, defense strategy and the multi-year behavior of PI and GL claims. The result is a talent pipeline equipped with the broad skills required for long-tail liability and positioned to lift the quality of claims handling across the industry.
Woodina’s next chapter builds on the same commitments that shaped its foundation. As the model extends through Ivory and deepens through Martello Law, the effects reach beyond individual claims. Brokers gain consistency, capacity providers see clearer loss development and the wider PI/GL market benefits from disciplined, defensible outcomes that compound over the years. It is growth measured one claim, one insured and one accurate outcome at a time.
