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CASE STUDY: Implement Dealer
Delivering smarter insurance and risk solutions to reduce overall costs.
RiskIMPACT™: Exposed significant instances of over-insurance, reduced premium expenses, improved safety
Implement dealers only have a few options when purchasing insurance. The results in this market are unpredictable, to say the least. Serving more implement dealers than any other agency in the country, Gibraltar’s RiskIMPACT™ process has had a major effect on the way the industry manages risk.
One implement dealer engaged with us after switching carriers every few years. During our thorough process, we exposed huge instances of over-insurance. In an industry as thin and risky as agriculture, this business was buying vastly more insurance than was necessary to protect its interests.
While this business had routinely switched for a 5% reduction in premium, foregoing any chance of receiving excellent service by bidding the carriers so low, it had been purchasing around 30% more insurance than the organization needed. Under our leadership, they have reduced premium expenses significantly and made significant business improvements through our risk management expertise and safety programming.