Commercial Combined & Specialist Insurance

In this case study, we discuss the challenges associated with reviewing an insurance programme. Our client had undergone a major business restructuring programme, resulting in an insurance programme that was not being managed effectively along with an increasingly unfavourable claims record.

The Challenge

Our client was one of the largest high-street insurance brokers in the UK, and a leading provider within general home insurance, motor and commercial lines.

The client had recently completed a major business reorganisation, which saw fundamental changes to its property estate; its retail platform and business development strategy; and its organisational structure. The restructuring saw a business that was right-sized for future trading conditions. However, the consequence of such a significant change meant that its general and specialist insurance programmes had become completely disconnected with actual business risks.

The client had no belief or confidence that risks were being managed effectively or that they had a competitively priced and comprehensive set of company insurances.

The challenge was to identify both a best-in-class insurance broker and ‘A rated’ underwriters to design a new insurance programme, deliver savings against current insurance premiums and provide a detailed and robust risk management strategy with the client.


  • Terrorism
  • Property
  • EL / PL
  • Business Interruption
  • Professional Indemnity
  • Fleet Insurance

Our Strategy

Our approach was to full tender process, engaging market-leading insurance brokers and insurance underwriters.

Involving the right providers is vital to ensure the bid process would ensure that the right advice is applied to a diverse range of insurance products, along with solid proposals concerning how we could market the relatively poor claims performance of our client effectively.

Stage 1 – Respondents were invited to design and submit both a ‘like-for-like’ insurance programme, matching existing excesses, sums insured and material conditions. Secondly, respondents were asked to present what they believe is the optimally designed insurance programme, based on their experience, in terms of sums insured; P&L exposure; and ensuring a robust insurance policy.

The process looked to test the ability of respondents to demonstrate their experience in managing large commercial insurance programmes; working with and holding great relationships with ‘A-Rated’ insurers; and how they would form long term relationships with clients.

Stage 2 – While the direct cost and structure of a premium are of course vitally important, the often forgotten side of procuring insurance is the risk management programme itself.

As such, we invited suppliers to make a proposal on this in terms of how they would ensure our risk management programme was effective at addressing the root cause of claims, rather than merely the after-effects of an incident.

Our Solution

Our tender process saw a the appointment of a new insurance broker to lead the renewal and placement of the insurance programme for the next three years. This commitment allowed both sides to form an ongoing and multi-year risk management programme.

The appointed broker secured a multi-year insurance programme which offered greater sums insured, lower deductibles and a more comprehensive policy wording per-policy to close cover gaps.

The new programme offered total transparency of fees, gain-share arrangements with underwriters and an insurance risk management programme across the property estate and company car fleet.

Business Benefits

  • An Insurance programme that is now fit for purpose and covers all the risks the client faces as a business.
  • A comprehensive and company-wide risk management strategy.
  • £150,000 reduction in fleet management costs through effective risk management (10% of fleet costs).
  • An upskilling process, supported by the underwriter and panel law firms.

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