The Lion Partnership (TLP) was engaged by the Australian branch of a global, independent, community-based aid and development organisation to help implement a ‘master’ insurance program that catered for their international affiliates, many of which were located in “high risk zones” that were notorious for various territorial and people risk exposures. These ranged from political and natural disasters to staff and active volunteers being vulnerable to various perils requiring medical, security and/or emergency assistance.
TLP’s role was to work with the client to design and implement effective strategies to deliver a more unified, global program for the group while at the same time ensuring each affiliate was compliant with the relevant legislation and regulatory requirements in the country in which they operated from.
In order to deliver the desired outcomes, TLP worked with the client to execute a bespoke, comprehensive tender process involving only suitably placed and experienced insurance brokers who had the capacity and global resources necessary to meet the clients requirements both locally and overseas. This enabled them to leverage their ‘economies of scale’ to obtain a number of general program improvements and achieve annual insurance cost savings in excess of twenty-percent (20%).
Moreover, the client realised various process efficiencies and eliminated unnecessary costs by rationalising the number of policies purchased by their overseas affiliates.
The client was also able to consolidate coverage in several key areas for a number of their global affiliates under their local ‘master’ program; thereby providing their overseas offices with automatic coverage and costs benefits afforded under the locally admitted policies controlled out of Australia.