Cost Saving – Insurance

//Cost Saving – Insurance
Cost Saving – Insurance2019-05-19T17:50:16+00:00

Company Overview: $3B Industrial Engineering and Manufacturing Firm

Company Overview

A global industrial engineering and manufacturing firm. The company is present with over 170 production and service sites around the world. It has more than 15,000 employees in over 40 countries. The annual revenue is $3B.

Business Facts

  • Operated on a very decentralized basis for insurance related matters
  • Overlapping policies and coverage
  • Multiple brokers, consultants and insurance carriers

Solution Deployed

  • Made strategic decisions to operate on a more global-centralized basis
  • Coordinate company service through one broker – one insurance company

Results delivered

Area of Insurance Projected Yearly Savings
US Worker’s Compensation and Auto Liability 45%
Global Travel Accidents including Local Property and Casualty 17%
Global Addressable Employee Benefits 15%
Total 18%