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The ERA Insurance team can help you source the right insurance cover for your business at a better price. Share the additional savings they achieve over and above your renewal offer. Alternatively - why not have them review your employee benefits programme to help you maintain the right cover and whilst reducing the cost.

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  1. 1. find extra profitERA Insurance Cost Management Ltd Expense Reduction Analysts
  2. 2. These are just some of the organisationswhose insurance premiums ERAICM hassignificantly reduced “I was particularly concerned that, as a new company coming out from the shelter of a group insurance programme, we might face an increase in premiums. The group insurance covers were very generalist and there was a definite need for a programme more suited to Zavvi’s retail operations. We were also used to the extensive support of a group insurance department and, therefore, needed to review our administration and risk management procedures. I was very impressed with the depth of expertise which was applied to the exercise, which was a well balanced objective process and delivered many improvements including substantial cost savings. It was a painless process and one which I would recommend to all organisations.” Steve Peckham Chief Financial Officer, Zavvi Entertainment
  3. 3. IntroductionThe ERAICM approach provides the only genuinemethod through which your organisation canachieve real competition in the insurance market ERA Insurance Cost Management ERAICM is not a broker or insurer and (ERAICM) is a division of Expense does not handle or transact insurance, Reduction Analysts, the largest cost giving the significant advantage of management consultancy in the world. independence when negotiating with Its sole aim is to provide the maximum suppliers. Its unique positioning reduction in insurance costs for each of ensures no vested interests and this, its clients whilst still maintaining scope together with the vast experience of cover and service backed by earned from the wide diversity of the proactive risk management. projects which have been undertaken, has created strong relationships with insurers and brokers alike. “We forged a very strong working relationship with the ERAICM team. They provided us with access to significant knowledge, technical expertise and experience and understanding of the insurance market which is not readily available to any organisation when they undertake this type of insurance review on their own. The results show that this was instrumental in the successful outcome of the project. The savings on insurance that we achieved with the help of ERAICM exceeded all our expectations. We would not have made those savings without their valuable guidance.” Geoff Hunt Deputy General Counsel, Volkswagen Group United Kingdom Limited Introduction ERAICM 3
  4. 4. The Benefits ERAICM currently enjoys a success rate of over 98%, with average cost savings of 17.5% achieved for clients. What effect could a saving like this have on your organisation’s bottom line? The ERAICM approach is pragmatic • A simple and unobtrusive approach, All of this is delivered whilst and delivers real financial savings minimising the amount of maintaining scope of cover and your whilst maintaining quality, regardless management time required current level of support services. of whether the insurance market is hardening or softening. • The strategic positioning of your Unlike insurance brokers, ERAICM risks to optimise the good features will work with you under a no-saving, Major Benefits include: no-fee arrangement as with all other • The use of quality insurers and Expense Reduction Analysts projects. • The maximisation of cost reduction brokers which, in the majority This means that if a saving is not opportunities due to the negotiation of cases, are household names achieved you will not be charged a and delivery of premium savings fee, whilst receiving the peace of mind which would otherwise not have • The creation of a sustainable and that you are not being over-charged been available profitable partnership between for your insurance. you and your insurer • Focused broker service delivery “I would recommend ERAICM without hesitation. The approach of the team has been very professional and they handled our renewal process in its entirety. They are very knowledgeable about the insurance market and how the whole industry operates and this insight gave us a valuable advantage. In fact, one of the main benefits was that they were able to better present our risk profile to the insurers by reviewing where our risks really lay and this had a massive impact in reducing the premium.” Chris Wade Director of Finance, ATOC4 ERAICM The Benefits
  5. 5. “The process was painless. ERAICM asked the right questions and we wereable to give them the right information. This was borne out when the proposalsmade by ERAICM gave Nightfreight new policies, with considerable additionalvalue for the Group.I would happily recommend ERAICM, if companies need an eye in the marketand want to understand the insurance language to present their profile accuratelyand effectively.”Ian HorsfallGroup Finance Director, Nightfreight GB The Benefits ERAICM 5
  6. 6. Market Negotiations The marketing of a client’s risk and insurance programme can be influenced by several factors. These include: • Poor perception of client’s risk because of historic operations or claims experience • The existence of a broker review exercise • Political considerations where an insurer would like to quote but the importance of the existing broker account acts as a constraint • Brokers’ use of preferred insurers • Incumbent broker’s defensive strategies in closing down The ERAICM approach overcomes these the markets marketing constraints. Insurers recognise that there is a truly level playing field when • A lack of access to exclusive ERAICM is involved. Consequently, better facilities and markets responses in terms of both cost and cover can be achieved. “Despite having a good grasp of insurance and managing our operational risks within our management team, we recognised that we are not experts in the insurance market. We elected to engage ERA Insurance Cost Management Ltd (ERAICM), to undertake an independent review of our insurance and risk programme in line with the OJEU process and assist us in maximising the response from the insurance market. We appreciated ERAICM’s impartial and independent focus, and the professional way in which they managed a complicated time-consuming process, which gave us peace of mind knowing that we are now receiving best value from the insurance market.” David Gordon Company Secretary, Hanover Scotland6 ERAICM Market Negotiations
  7. 7. The Project ProcessWe can apply our entire process toyour business or select elementsof it, enabling us to tailor oursolutions to your specific needsand requirements. We use proventechniques to understand yourorganisation’s profile and onlythen do we design a programmeor activities that is right for yourorganisation.In the course of a project ERAICM will: Identify the issues Manage market negotiations Interpret the results Implement the solutions ERAICM will guide your organisation through this entire process in a simple and unobtrusive manner to achieve your objectives The Project Process ERAICM 7
  8. 8. The Challenge ERAICM is fully authorised and regulated by the Financial Services Authority Insurance premiums and expenditure As well as an organisation’s own These factors demonstrate the purchase on risk management and self-insured risks, exposures and historic claims of insurance and risk management losses can represent a substantial cost experience, there are several external services must be treated as a dynamic for organisations in every sector of factors which directly affect the cost process. So how can cost reduction industry and commerce. But how of insurance premiums: best be achieved whilst still certain can you be that these costs maintaining scope of cover and are being managed in the most • The shifting insurance market cycle level of support services? effective way possible? • The market’s perception of an Historically, organisations have organisation’s risks – often addressed this issue by carrying out historically based and not always an insurance broker review. However, reflecting the current business this process is not only extremely activities time-consuming for management but is also inherently flawed. • Broker’s preferences for specific insurers with whom they have a Defensive strategies from the existing large book of business and where broker in an attempt to close down balancing this portfolio may not markets and the competing brokers always be in a particular client’s swamping insurers with alternative interest enquiries, only serve to create constraints in achieving the best programme for the client. “We were very pleased with the unobtrusive and unique approach ERAICM took towards our insurance and risk programme. Their expertise in alternate broker selection and market negotiations certainly paid dividends for FPA and this was demonstrated in the final outcome. We made excellent savings and were so pleased with the alternate broker that we appointed them for renewal. I would thoroughly recommend any organisation to engage with ERAICM for an insurance review.” John Gibbons Financial Director, Family Planning Association8 ERAICM The Challenge
  9. 9. A Unique ApproachThe ERAICM approach is an effective alternativeBy using expertise and volume leverage Its focus is to ensure that yourin the marketplace, ERAICM has relationship with insurers and brokersdeveloped quality partnerships with moves from being purely transactionalmajor brokers and insurers and set to a fully interactive process, thusup facilities exclusively for Expense opening up the opportunities forReduction Analysts clients. The your organisation to receive addedindependence and objectiveness of value benefits from them.ERAICM ensures that the best dealsare always secured for its clients. An important factor in this process is the strategic positioning of your riskKey benefits of our process are that portfolio so that the good features,it is both unobtrusive and straight- such as risk management initiativesforward. In effect, ERAICM will act and claims experience, are properlyon your organisation’s behalf as recognised in the pricing of premiums.facilitators, taking the burden awayfrom you and saving management The large number and range of projectstime. This streamlined approach allows already undertaken by ERAICM hasERAICM to be extremely agile in its provided it with a unique insight intobusiness, which has proved particularly the insurance market and enables it toeffective to achieve optimum results in understand what is truly possible tothe often tight renewal timeframe. achieve where conventional thinking falls short. Consequently, ERAICM consistently obtain results which clients could not achieve for themselves. ERAICM has saved clients as much as 80% on insurance costs and, on average, achieves a saving of 17.5% within this area of expenditure, whilst delivering significant additional benefits A Unique Approach ERAICM 9
  10. 10. A Compelling Proposition These are just a few of the companies we have helped achieve savings for: ATOC Acheson Glover Albyn Housing Society Berwickshire Housing Association British Autogard Cambridge Regional College Charville Estates Condor Ferries Currie & Brown Dunne Group East Lothian Housing Association Family Planning Association Fife Housing Gloucestershire College Hanover Scotland Independent Forgings & Alloys Indigo Services Infoteam Irish Waste Lionverge Civils Lombok Mayflower Theatre Trust Medway Foods Metco Services Morgan Cole N R Evans Logistics N Sethia Group Neoss Nightfreight Odfjell Drilling (UK) Poole Harbour Commissioners QTR Transport Rosebery Estates Scott Group Sector Security Service Innovation Group Sheffield International Venues The Fry Group The Lowry The Thinktank Trust US Airtours Holidays Volkswagen Weymouth College WJ & H Crozier Wartsila UK Limited Welmede Housing Association Zavvi10 ERAICM A Compelling Propositon
  11. 11. find extra profitArgentina Australia Austria Belgium Brazil Canada Chile Columbia Ecuador FranceGermany Greece Hungary Jordan Italy Lebanon Luxembourg Mexico Morocco NetherlandsNew Zealand Panama Portugal Spain Taiwan United Kingdom United States Uruguay Expense Reduction Analysts ERA Insurance Cost Management Ltd is authorised and regulated by the Financial Services Authority