An International Human Resource Company saves $310,000 on annual insurance premiums, improves coverages and uncovers excessive, undisclosed commission payments.
Background: International Workforce Management Services Company.
Needs: Required a review of personal accident, professional and general liability insurance coverage. There was concern for broker advocacy and gaps in coverages. Needed to reduce costs from $1 million.
Solutions:The preferred broker is now the company´s advocate resulting in significant coverage improvements and substantial cost reduction. Their insurable risks were identified and are now better managed.
Savings: 30% savings on insurance premiums of approximately $1 million.
Senior partners of The Lion Partnership recently completed a comprehensive audit and insurance / risk management review for an International Workforce Management Services Provider. A successful company with revenues in excess $ 250 million, was unaware that their broker was also the agent of the Insurers of several of their policies.
The Lion Partnership is a specialist Global Insurance and Risk Advisory group, provided businesses with an independent, impartial, and objective review and analysis of their insurance and risk management programs, substantially improving coverages and reducing costs. A major advantage for the Company was that their preferred broker is now their advocate for claims management and not the agent of any insurers to their program.
Please contact us today to find out more about how The Lion Partnership has saved companies significantly on their premiums.
- World’s best practice knowledge and local experience
- Best in class corporate governance protocols
- Independent and impartial advice and coverage review
- In-depth gap analysis and policy wording review to identify risks
- Global benchmarking to ensure optimum coverage at best price
- No requirement to change insurance providers
- Alternate Fee Structures including our ‘no savings, no fee’ model