- Insurance program reviews
- Insurance program design, placement and management
- Claim management
Turning a conflicting and disjointed program into a globally cohesive program
Australian mining equipment manufacturing client with operations in multiple countries had different insurance policies in each of those countries with different insurance brokers. In addition, the master global insurance program was unable to sit seamlessly with each of the countries insurances.
Having a disjointed and complicated insurance arrangement meant our client was often dealing with substantial administration issues, dealing with different insurance brokers none of which was seamlessly supported by its global insurance program originating in Australia. The de-centralised policies also meant that our client was paying excessive premiums for their insurances.
Allegiant IRS identified an opportunity to re-structure the entire insurance program from the ground up by incorporating a global insurer who could:
- Place insurances locally in each of the countries – allowing for compliant policies for each country
- Dovetail the master global policies to sit over the various countries insurances to ensure no gaps in the total insurance program, and
- Centralise the administration of the insurance program so that Allegiant IRS and the client could access, in real time, claims data, insurance certificates and policy documents.
By consolidating and centralising the entire insurance program our client not only saved considerable time and effort in the administration of its insurances but we were also able to reduce the cost of their insurance, in some insurance lines, by up to 45%.
“A big benefit to us…if we ever have to make a claim in the future, we don’t need to worry about who we need to talk to, we will just go straight to Allegiant IRS, it’s a one stop shop now.”