Currie & Brown
Currie & Brown was established in 1876 and is now one of the largest consultancies of its kind in the world.
In the UK Currie & Brown operates from sixteen offices across England, Scotland and Wales, and helps its clients to manage risk and maximise value in the construction, use and maintenance of the built environment.
Richard Anderson, Financial Controller for Currie & Brown engaged the services of Expense Reduction Analyst consultant Scott Girvin to review levels of expenditure at Currie & Brown and initial meetings identified that the area which was of immediate priority to Currie & Brown was the renewal of its commercial insurance.
Currie & Brown has substantial involvement with the insurance sector and as such has a significant level of in-house knowledge and well-developed relationships with insurance brokers and insurers. Richard Anderson became involved with the project due to the importance of the cover to the business, and was keen to engage Expense Reduction Analysts to provide him with an independent review of the quality of the existing broker, the service and cover his company was receiving, and the pricing in the market.
For the purpose of this particular project Scott Girvin approached ERAICM Laurie Malyon and Scott Ingham. Scott Ingham explains, “Currie & Brown, like most companies in its sector, had been receiving year on year increases on its insurance programme costs despite being a highly professional and very well managed practice. After our initial meeting, Richard Anderson and his colleagues were convinced that Expense Reduction Analysts could bring an additional level of expertise to compliment their own to negotiate their insurance renewal. Working in a consultative manner we reviewed the insurance programme and worked with the incumbent broker, a major international company, and also two other brokers introduced by ERAICM. Although the incumbent was able to make savings on a like for like basis by almost 9%, an alternative broker introduced by ERAICM was able to further increase savings by £25,000 (17.5%). In addition it was able to supply substantial benefits to both the insurance programme and the company.
Richard Anderson is delighted with the outcome, “I can really the see the value which the Expense Reduction Analyst Insurance team have added to the process. We did not want to destabilise our relationship with our incumbent broker but did feel the alternative broker was able to provide enhanced added value in addition to substantial profit improvement. Laurie and Scott were able to achieve this whilst working to a tight timescale and I would recommend them to other companies.”
SUMMARY OF SAVINGS
- Insurance: 18%
“I can really see the value which the Expense Reduction Analysts Insurance team have added to the process.”