Manufacturer Case Study

Client: Manufacturer with 3 major sites in the UK

Business challenges:

  • The Finance Director of a FTSE traded business was charged with reduction of claims spend.
  • Existing set up was disjointed; heavily lawyer dependent.
  • At renewal, insurance premium increased by 18%, resulting from a poor claims history.

Solution:

Davies reimagined a bespoke claims management programme to drive claims spend down. Key features included:

  • In-house Risk Engineer evaluation of where risks arose; action plan to reduce claims
  • Claims handling strategy which delivers a consistent approach to claims
  • Efficient end to end process minimising leakage and delay
  • Utilising lawyers only where they add value, reducing own legal spend by 90%
  • A market-leading MOJ portal service which delivered improved retention rates (52%)
  • Claims handling experts, who understand corporate culture and approach.

Business impact:

The Finance Director now has sight of how all claims are handled and is able to exercise greater control over both settlement process and indemnity spend. By reimagining their claims management programme, Davies reduced claims spend by over £2m in 4 years.