Session was held 27 October.
Insurance is one of the last bastions of addressable spend for many indirect procurement departments.
Yet, if you are spending over $200,000 a year in premiums it is highly likely you can score real annual cost savings despite the current global market conditions, as well as substantially improve your covers– you just need to know how.
Like many others, the insurance category has its own peculiarities and, even, material vested interests, especially as you cannot deal directly with the supplier i.e. the insurance company. How you can break down these walls of tradition is the key to achieving for your organisation Best Value, being the best insurance covers at the most economical cost from financially secure insurers from a broker who is your agent and fiduciary.
Join this important session to learn how to approach the insurance risk transfer category afresh, managing your preferred corporate broker, obtaining the best value – the best covers at the most economical cost, how to ensure your insurance (risk transfer) program is optimally structured and what is critically important you have no unknown gaps.
Learn the important strategies, including:
(i) how structure and manage an effective insurance tender,
(ii) how to prevent the practice of ‘reserving’, which is not in your organisation’s best interest and
(iii) understanding the importance of aligning your enterprise risk management with your insurance program, as well as how to avoid wasting risk capital by over and under insurance.
Your expert presenters:
Ken Armstrong, Landell’s resilient insurable risk management principal consultant. Ken has more than 25 years’ experience as an insurer / broker and 20 years of insurance procurement experience.