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CASE STUDY: National Transportation Company
Delivering turnkey HR solutions, claims management and loss prevention that improve business and profitability.
RiskIMPACT™: $700,000 per year in savings, improved driver safety, reduced loss ratio, reduced interest expenses
Transportation is one of Gibraltar’s strongest industries. Collectively, our clients have more than 3,000 trucks on the road. Several hundreds of those trucks are part of a national transporter pulling agricultural products, a client that realized the relationship between their risk expenses and the cost drivers behind them through our RiskIMPACT™ process. Together, we implemented a comprehensive, multi-year plan that addressed everything from maintenance procedures to driver selection.
The results are nothing short of phenomenal. The RiskIMPACT™process has driven down costs in every area of the business. The organization is currently saving more than $700,000 per year compared to past premium levels. It has avoided some major HR lawsuits due to the implementation of a turnkey HR program and freed up significant cash flow by adopting a loss sensitive workers’ compensation program. That cash has allowed us to accelerate debt service on the organization’s fleet and reduce its interest expenses. Even with reduced premiums, the business is maintaining less than a 40% loss ratio, meaning its chance of interruption from non-renewal, a significant risk for most transporters, is next to zero.