Branches insured their warehouses independently with 5 insurers—rates for similar risks varied by up to 40%. Accounting reconciled premiums and payments manually; insurer reconciliations took up to a week. Policy payments were late twice a year. Head office lacked a full portfolio overview.
Digitised all branch policies, set up access for head office and warehouse managers. Added document control: payment schedules, reconciliation reports, premium analysis by insurance type. Ran a single tender for all 'warehouses + inventory'—10 insurers submitted proposals in a unified format. Aligned all policies to one renewal date.
-21% insurance cost reduction - 60 000$ saved per year; 12 warehouses under single terms with one insurer; 2 hours to reconcile with the insurer; 0 late policy payments