The Insurance Power Play

The Arcare Group

Background

The Arcare Group, a prominent residential aged care provider with a history spanning over 40 years and managing 49 properties across Queensland, New South Wales, and Victoria, recognised the need for a comprehensive governance review of their insurance program. The goal was to determine if their current insurance solutions were the most effective and economical, considering the Group had not conducted such a review for several years.

Our Services

Arcare re-engaged Resilient, who had previously assisted them several years ago, to conduct an in-depth review of their insurance program and oversee the tender process for their forthcoming insurance renewal. This initiative was part of Arcare's continued commitment to ensuring optimal insurance coverage and cost efficiency.

Strategy and Approach

The review focused on a detailed analysis of Arcare's existing insurance coverages, identifying areas for improvement and cost reduction. The approach involved assessing the suitability of their current insurance arrangements, especially in light of the unique risks associated with aged care facilities and construction projects.

Tendering Process and Broker Selection

A comprehensive tender process was initiated to evaluate and select a suitable insurance broker. The process was designed to ensure transparency and to find a broker with expertise in the aged care sector and construction insurance. The selection was based on the broker’s ability to provide innovative solutions, competitive pricing, and superior service standards.

Outcome

The engagement with Resilient yielded remarkable results for The Arcare Group:

Achieved more than 10% annual cost savings for the Arcare Group.

Substantially improved insurance coverages for both the aged care facilities and the Knowles Construction arm of the Group.

Consolidated property covers, leading to the elimination of agency commissions previously charged by their former broker, resulting in further cost savings.

Enhanced broker servicing provided to both the state operations and the group’s head office, ensuring more efficient and tailored insurance support.

This case study demonstrates Resilient’s ability to deliver significant improvements in both cost savings and coverage quality, tailored to the specific needs of a leading aged care provider and its associated construction entity.

The Insurance Power Play

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