19.98% Savings in Insurance
The Client
Leading company in manufacturing industry.
IndustryManufacturingServicesExpense ReductionCategoryInsurance
The Result
19.98%
Savings Rate
Total Annual Spend:
€78,000
Total Annual Savings:
€15,580
Thanks to its deep knowledge of insurance market, Verallis managed in short time to achieve 16% savings in group insurance with the most well-known and reliable companies, while improving benefits. In addition, 23% savings were achieved in other insurance categories (property, civil liability, transportations and cars).
The Challenge
1
The Client, always focused on the improvement of procedures and particularly sensitive to the optimization of operating cost issues, invited Verallis to further explore possible savings, which the Client had achieved in insurance. It is known that the “Insurance Market” is complex in terms of “Value for money Services”. Incumbent brokers frequently employ marketing tactics that lead to missed opportunities. In this context, the Client had set in addition to quality standards and a minimum desired percentage of savings.
The Method
2
We evaluated the current services by scanning on-going contract agreements, taking into account all pre – agreed qualitative criteria compared to the current market price indices. Our experts then explored more than one alternative value adding propositions that met all pre-set standards and provided a comprehensive review.