How ERS Cut Insurance Costs by 25% in a High-Risk, High-Growth Business

Situation

  • PE firm and portfolio company saw insurance costs climbing YoY
  • Multiple disconnected brokers in Executive Benefits and Property & Casualty
  • Legacy broker relationship was difficult to navigate; lacked benchmarking data
  • Client was moving from informal to professionalized insurance oversight
  • Large public claim was mishandled and stagnant

Process

  • Met with C-suite to understand priorities and pain points
  • Identified 3–5 brokers and facilitated exploratory meetings
  • Selected 3 finalists for structured side-by-side review
  • Used Red/Yellow/Green evaluation method to assess fit
  • Issued a formal recommendation report to the PE firm and portfolio company

Results

  • Selected a new Property & Casualty broker, achieving a 25% cost reduction
  • Appointed a dedicated claims advocate to increase responsiveness
  • Established regular check-ins to improve accountability and service
  • Modernized the incumbent broker’s role in Employee Benefits to support growth