Frequently Asked Questions

Are we part of a cluster group?

Yes. We are a Steadfast Group partner.

What is the commission % Payable to NeedCover Group?

10%

Is the Commission Rate Capped?

Yes, 1.5 Million in Total Income.

When is commission paid?

Twice Monthly.

What is the NeedCover Group Notice Period?

3 months.

Can you assist with Migration costs from my current licensee?

Yes, we will cover all migration costs, which is in excess of $12,000.

Will you arrange for my User access with insurers and underwriters to transfer to NeedCover Group?

Yes, we will notify all insurers of your move to NeedCover Group.

Are you able to assist with larger or difficult placements?

Yes.

Can you assist with issues where claims have been declined or there is an argument or disagreement with an underwriter?

Yes, your Network Manager will work with you to facilitate conversations with the Insurers and Underwriters.

Will you provide me with a dedicated contact person?

Yes, you will be assigned a Network manager who will be your go to person.

Which broker platform do you use?

INSIGHT.

What is the ongoing broker platform cost?

These costs are built into your 10% management fee.

Do you use a document management system (DMS)?

Yes. We utilise OfficeTech for storing all clients files and emails.

What is the ongoing cost for OfficeTech?

These costs are built into your 10% management fee.

Is client data stored on a dedicated server?

Yes. OfficeTech data is hosted on dedicated severs in Microsoft Azure. INSIGHT data is hosted by Steadfast on their servers.

Can I log in anywhere in the world?

This can be arranged, just get in touch with our support team to assist you.

Do you provide licenses for Microsoft 365 (i.e. Word, Outlook, Excel etc)?

Yes, we will manage your Office365 License for all staff, the costs are included in your 10% management fee.

What are the costs for Systems support?

NIL.

Which Premium Funders do you use?

We are accredited with 5 premium funders as follows: Arteva, Attvest, IQumulate, Elantis and QPR.

What % of the AR’s funding commission does NeedCover Group take?

Nil. The AR retains 100% of the premium funding commission.

Is funding commission paid directly to the AR?

Yes. All Premium Funding commissions are paid direct to the AR by the Premium Funder.

Who is your PI provider?

We partner with Erato for our PI insurance.

What is the PI insurance cost?

These costs are included in your 10% management fee.

What is the excess for PI claims?

The current excess for Erato is $10,000.

Do you provide all AFSL audits?

Yes, we engage an external auditor to complete our annual review for all AR’s.

Do you provide AFSL compliance checks?

Yes. We conduct quarterly compliance checks on all our AR’s.

Is there an additional cost for audit and compliance checks?

NIL, we will cover these costs for you.

Ready to join?

Fill in your details and our team will be in touch.

Full Name

Email Address

Phone Number

Business Name

State

Current Licensee (if any)

How can we help you?

Why brokers choose NeedCover Group

Prefer to talk?

1300 606 888