Employee Benefits

Relation Trucking P&C and EB Experts Increase Client’s Mileage

Relation Trucking P&C and EB Experts Increase Client’s Mileage

The Client

A large fleet carrier. This family-owned business has served the nationwide trucking needs of a diverse cross section of industries for more than 70 years.

The Challenge

Through extensive client dialogues, we discovered their management team had two significant financial concerns:

  1. Vehicle Liability and Physical Damage Program: Their approach to managing their liability and physical-damage-only claims was financially inefficient and masked a claims-frequency problem they needed to address.
  1. Attraction and Retention of Qualified Drivers: Their employee-benefits solution wasn’t competitive enough to help with driver retention.

The Solution

Our multi-disciplinary team took a fresh look at these challenges. First, our trucking Property & Casualty experts completed a comprehensive analysis of expenditures, including premiums and physical-damage expenses. The client hadn’t yet taken this holistic view and was shocked at the combined figure. We then leveraged our strategic relationships to find a carrier who was willing to write a program based on a traditional small $10K deductible basis. We also introduced our safety and loss prevention experts to target claim reduction strategies.

While the client’s incumbent broker advised there was only one health insurer option available, our Employee Benefits experts found otherwise. We negotiated a program with an alternative health insurance company providing better-quality coverage, tailored to the unique needs of trucking firms, at a lower cost.

The Results

The projected year-one premium savings for both new programs combined is more than $500,000. In addition, there has been a marked improvement in driver recruitment, and the company has invested the extra cash in vehicle-safety technology. Our client is now seeing improved costs, a more stable workforce, and a safer fleet.