Consolidated Trade Credit Programs Helps Lower Premium and Administrative Costs
Combine subsidiary policies and receive the lower of the two policy rates
Industry: Food Retail and Food Service
Annual Revenue: $5 billion globally
A large food producer and distributor had two separate trade credit policies with differing structures for two of its subsidiaries placed with the same carrier. Due to losses, one policy carried a significantly higher premium rate. The customer engaged Brown & Brown to help combine the program at the lower of the two rates.
Created a marketing campaign to provide alternative options
The Brown & Brown Trade Credit team initiated a marketing campaign to provide the customer with alternative solutions. The incumbent saw the risk of losing the program and began working with the team to help find a solution.
Policies were combined, saving over $120,000 in premium
Brown & Brown helped the customer to successfully combine the two programs at the lower rate saving the customer over $120,000 in premium. Consolidating the two programs also allowed the customer to save on administrative costs, eliminating potential errors and streamlining the internal processing of a single policy versus separate policies.
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