A global media and technology company offering high-speed internet, video, voice, wireless, security, and automation services to residential and business customers was seeking expertise in restructuring and rightsizing its existing protection product portfolio as the scope of the organization’s offerings had significantly increased since the original administrative contract was created.
Marsh engaged with the organization to understand the business and build a comprehensive solution. Using our proven methodology, Marsh was able to:
- Review current portfolio performance, growth expectations, and areas of concern.
- Generate market friction by conducting a large-scale competitive request for proposal (RFP), for both the existing book of business as well as indicated areas of growth.
- Uncover opportunities for significant financial savings as well as operational efficiency as a result of the competitive RFP.
- Consult in negotiations of the most favorable financial and operational structure with the chosen carrier.
- Assist with future plans of captive utilization for both current and future programs.
Our guidance and solutions allowed the organization to:
- Secure a financial agreement with the administrator and the carrier that is commensurate in size and scope to the size of the portfolio.
- Increase revenue by optimizing provider pricing.
- Improve product offering by aligning products offered with the needs of customers.
- Allow for the future transfer of risk to a parent-owned captive.