64 policies across 13 insurers: each branch chose its own provider and terms. Head office compiled a portfolio overview every six months—two specialists spent up to a month on this. Theft limits for warehouses with the highest-value stock were below inventory value. No volume discounts: the portfolio was fragmented.
Digitised policies for all branches and set up roles: branches upload data, head office manages the portfolio. Verified warehouse limits and aligned theft coverage with stock value. Ran a tender for the consolidated portfolio—offers from 16 insurers, compared by price and non-price criteria. Enabled portfolio analytics: premiums, claims and deadlines by branch, in real time.
-31% reduction in insurance costs – 143 000$ saved annually; 6 policies by insurance type; At any time portfolio summary ; 1 FTE moved from data gathering to analytics