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CASE STUDY: Large Convenience Store Operator
Providing an emerging retailer with significant savings and smart business strategies.
RiskIMPACT™: $1,400,000 in cost reduction, improved coverage levels, increased productivity, reduced risk costs
A large retailer and convenience store operator was working with the ninth largest insurance broker in the world before engaging Gibraltar to take over its insurance and risk management program. Our experts started the RiskIMPACT™ process and uncovered significant gaps in the previous program, all of which could have created major issues for the emerging business.
During the first year of the organization’s new program, we were able reduce premiums by more than $300,000, while drastically improving insurance coverage levels. The Gibraltar Group's risks specialists worked with the client to implement complex claims management and loss control strategies that resulted in decreased risk costs averaging 30% below industry benchmarks. These results and our ongoing risk management programming helped the business achieve constant profitability, increased productivity and total risk-related savings of more than $1.4 million in four years.