The Commonweal School saves 28% by using the Insurance Services framework (RM958)

Published on 03/09/2015

The requirement

Upon reaching the end of a three year insurance agreement, The Commonweal School took the opportunity to review its existing arrangements. With an increasingly tight budget and a desire to cut costs, the school was also conscious of a need to ensure that an appropriate level of insurance was in place to cover the wide variety of activities carried out in support of its students’ education.

The solution

Having looked at a number of options The Commonweal School decided to use the collaborative Insurance Services framework. Having gained useful advice and information from ESPO, the school selected to appoint Aon via lot 3 of the framework. This option offered the school the high level of expertise that it required in order to ensure that comprehensive insurance was in place, whilst also fitting in with the required timescales.

The results

Aon worked effectively with the school to gain all of the information needed in order to obtain quotations from the insurance providers on lot 1 of the framework.

The school received a comprehensive report, outlining the proposed solutions, allowing final decisions to be made by Governors. Through use of the framework the school managed to reduce its renewal costs by £17,500 (28%) compared to costs for the previous year; £7,500 of this saving was through removal of covers that were no longer required, with the remainder from reduced cost of policies and brokerage fees.
 

“We found the Insurance Services framework easy to access and able to deliver significant savings to the school. With other revenue costs increasing this was a real priority for us, and we were pleased to be able to reduce our costs without compromising on our cover. The support received from ESPO and Aon made this a simple and effective way to procure insurance, whilst also giving governors the assurance that a competitive and fair process has been followed.”

Victoria Johnson, Business Manager for The Commonweal School

“The Commonweal School approached Aon following a decision to pursue a quote via the Insurance Services framework based on the availability of a contestable insurer Panel offering. Working closely with the school to identify risk exposures, we were greatly assisted by the school’s willingness to offer their full support in the provision of risk detail, allowing the process to run smoothly. We were delighted to be in a position to offer a tailored risk programme that met fully with their requirements, resulting in cost savings from the previous year.”

Barbara McLean, Business Director, Aon Risk Solutions



To view the Insurance Services framework (RM958) please click here

Click here to view a printable version

For further information, please contact: 

Professional Services Team
profservices@espo.org 
0116 294 4075

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