CASE STUDY - INSURANCE
Insurance Company Manages to Find Savings of $350,000 with Profit Professionals Assistance
“We were hoping to increase profits through whatever means possible,” said a partner at the Insurance Company. “We always wondered if we were getting the best value and thought that Profit Professionals outside expertise could help us. At the time we did not have the resources and manpower to assess all of these non-core expenses by ourselves, that’s where Profit Professionals came in”.
Profit Professionals came in and undertook nine different projects designed to identify potential areas where cost savings could be achieved. After examining various contracts, invoices and expense reports, Profit Professionals illuminated the company to the fact that they were overspending for a number of services, all of which could easily be rolled back, with no loss in quality or efficiency.
The company was overspending on equipment maintenance, office supplies, telecom plans, printing, courier fees and janitorial services and after implementing Profit Professionals recommendations was able to find annual savings of $350,000.