The Benefit of Boutique: Manufacturing

Client Profile

Plastic injection molding manufacturer. Tier I and II supplier. Represented by a large, national broker. Increasingly restrictive property insurance terms due to a lack of understanding of the risk mitigation controls in place. Historical lack of competition for the property and liability program.

Process

Developed a comprehensive risk profile through several site visits, leadership interviews, survey reviews, and modeling. Conducted multiple in-person and virtual risk control visits with potential insurance companies to truly represent the entire risk profile. Received buy-in from client to invest in recommended improvements to risk mitigation processes.

Results

Implemented a thorough, proactive negotiation process to produce viable options from multiple insurance companies that represented improved coverage terms and a 26% ($147,202) reduction from the initial renewal offer.