Information Technology

Publicly listed Global Information Technology Company works with The Lion Partnership to review their insurance arrangements from both a coverage and costs perspective.

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Background

A renowned global Information Technology Company engaged the Lion Partnership with a significant online presence eager to test the adequacy of their insurance arrangements from both a coverage and pricing perspective.

While the client was not displeased with the performance of their incumbent broker, they were eager to save money and had not explored alternative markets for more than ten years.

Approach

A full insurance tender process was carried out, which unearthed numerous inadequacies from a coverage perspective. Many had occurred due to the incumbent broker's inability to adequately modify the program in line with the client's growth and evolving risk profile. This is a common issue for many organisations that provide internet-based services, given the myriad of ever-changing risks associated with trading online.

Solution

We achieved various insurance policy enhancements and improvements in the cover and the competitive tension brought about by the tender process generated significant cost savings for the client of almost $350,000. This was an overall reduction of nearly 50%. They also benefited from several supplemental specialty services from their newly appointed broker at no additional cost.

Testimonial

“The Lion Partnership (TLP) bring a wealth of knowledge and industry experience to the negotiating table. I found the process simple and straightforward to follow.

TLP has a methodology that works and delivered a very good outcome for the organisation. In my view, you have nothing to loose."
Tyrepower
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Construction
National Construction and Property Development Company with annual revenues in excess of $250m secures major coverage enhancements combined with a 23% premium saving without the need to change insurers.
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One of Australia's largest tertiary education providers enjoys $485,000 in annual insurance savings while securing vastly improved levels of insurance protection and broker performance.
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