An Indigenous entrepreneur has established Australia’s first insurance brokerage tailored for First Nations organisations and communities.
Stuart White (pictured), a Biripi man, founded First Peoples Insurance, which operates as an authorised representative of Austbrokers Comsure.
The brokerage’s official launch will take place during NAIDOC Week, from July 7-14.
White’s journey to insurance was non-traditional.
Raised in Wauchope, New South Wales, White left school at 15 and worked in a timber yard long enough to earn long-service leave. Later, he pursued a corporate career in Melbourne and Brisbane, most recently working as a retail leasing executive with the Queensland Investment Corporation. He left that position to dedicate himself fully to First Peoples Insurance.
With over two decades in corporate sales, White identified a significant gap in the market.
“Work I’ve done with corporates on Reconciliation Action Plans (RAP) identified a lack of trust among Indigenous people about insurance. They don’t understand it and mob prefer to buy from mob,” he said.
Concurrently, he is pursuing a master’s degree in entrepreneurship and innovation at the University of Queensland.
First Peoples Insurance is entirely Indigenous-owned and operated, concentrating on insurance solutions for Traditional Owner and Indigenous community-controlled organisations and enterprises.
Additionally, the brokerage seeks to provide training and job opportunities for First Nations individuals, who are underrepresented in the finance sector.
White said he established First Peoples Insurance to use his sales expertise while addressing the lack of services available to Indigenous communities
As a registered entity with Supply Nation, a database of verified Indigenous businesses, the brokerage can assist corporate clients in fulfilling social procurement, RAP, and ESG requirements.
White developed the concept for First Peoples Insurance and presented it to potential partners for necessary training and support, ultimately collaborating with Brisbane-based Austbrokers Comsure.
Ian Garbutt, managing director of Austbrokers Comsure, expressed support for the initiative.
“AB Comsure prides itself on promoting a diverse and inclusive workplace and supporting the communities in which we work and live. The opportunity to support Stuart in creating a business that focuses on the Indigenous community is a natural progression for us,” he said.
Over the past six months, White has been involved in the AB Comsure Graduate Program, gaining experience in claims, SME, and corporate teams to understand insurance industry systems and processes.
“From my first interaction with Stuart, I was drawn to his passion for his community and his long-term vision to attract young Indigenous people into the insurance industry through his business,” Garbutt said.
White said he is thankful for the support and training provided by Austbrokers Comsure and aims to emulate the success of international brokerages that have developed insurance services for Native Americans and Indigenous Canadians.
