A large, technology-based Oil and Gas Exploration Company with operations across Europe, Asia, Africa and the United States was eager to test the suitability of their existing insurance and risk management protocols given their sizable risk profile.
Prior to engaging The Lion Partnership (TLP) the client was utilising the services of several different brokers and had a large number of insurance policies with varying renewal dates throughout the year. TLP identified opportunities to eliminate duplicate coverages and unnecessary costs by consolidating the numerous programs in place.
TLP was also able to help the client obtain significantly enhanced levels of coverage while at the same time securing a staggering level of premium savings in excess of $1 million, equating to an overall reduction of more than 32% across their entire program.
In addition, the client was also able to engage the services of a truly global broker that, unlike their previous representative, was being remunerated in a more open and transparent manner, while also providing them with a single point of contact to manage the vast global insurance needs.