KMRD’s Global Insurance Expertise Achieves More Coverage for 62% Less

KMRD’s Global Insurance Expertise Achieves More Coverage for 62% Less

An organization’s foreign divisions purchased insurance independently. KMRD’s global insurance expertise reduced the company’s cost by 62% while increasing their depth of protection.


Consolidated Risk Program

KMRD’s process of consolidation, provides a consistent depth and breadth of coverage for all global exposures.

Workflows Generate Results

Our “Policy Review Workflow” allowed us to identify and eliminate overlapping coverages.

Attention to Detail

KMRD discovered foreign coverages were 1/10th of coverage in the US, despite half of their revenues are generated from overseas operations.


The Issue

A prospect allowed for its local management teams overseas to place property and casualty insurance independently from the parent company’s program in the United States.  This included separate property and casualty insurance programs in:

  1. United Kingdom
  2. France
  3. Germany
  4. Spain
  5. Italy
  6. Netherlands
  7. United States
  8. China
  9. Japan

None of these programs included a consistent level of coverage. Some programs were redundant and represented double coverage.  No one in the organization could describe how the risk program was structured globally.

Upon further investigation, the depth of coverage purchased overseas was 1/10 of which was purchased in the United States.  However the revenues generated form the foreign operations represented $100M (USD) of the company’s total revenue of $200M (USD).

We were told that the previous agent attempted to consolidate the program but failed.


The Result

No continuity of coverage and no use of the buying power associated with consolidated program.  The CFO had no handle or visibility to the foreign operations risk management programs.  He had no idea whether their insurance program was structured adequately.


Our Solution

We rolled up our sleeves and used XChange to gather the insurance and exposure information directly from managers in each country.  We used our global insurance expertise to structure a program with a consistent level of coverage while taking advantage of some enhancements only available in the countries of origin.

Believe it or not, KMRD decreased the costs of their insurance overseas by 62%, while:

  • Increasing the General and Auto Liability Coverage Limits from $1M to $11M.
  • Converted the Foreign Property Coverage to a Blanket Basis, allowing the total value of all overseas locations to apply to any one location.
  • Added Worldwide Commercial Crime Coverage.

With our involvement, global consistency was achieved, coverage was enhanced and insurance costs were reduced. That’s the KMRD difference.

Got a Problem? We'd Love to Solve It!

Contact Us

top