Partnership designed to identify and manage risks as well as reduce cost
Tangerine Confectionery has asked Aon to provide it with risk management advice and design an insurance programme for the UK confectioner.
Aon is partnering with Tangerine to achieve two key objectives: firstly, to reduce the ‘total cost of risk’ for the fast-growing company by reducing up-front insurance premium spend, obtaining better payback from risk management investment and ensuring claims and the cost of claims are reduced. Secondly, working in partnership with the Tangerine management team, to identify and manage risks and threats to their business, to help provide a robust platform to support their future growth.
James Moores, business development manager, Aon Risk Services, Manchester, commented: ‘What is critical to any business in the sector is that it is their product on the shelves – not their competitors.'
Steve Dodds, finance director at Tangerine Confectionery: ‘Aon demonstrated a clear understanding of the risk issues faced by our sector and the need to bring risk management to the forefront of our agenda, placing less reliance on purely buying insurance for insurance’s sake and really ensuring we get the best return on any spend.’
Blackpool head-quartered Tangerine is one of Europe’s largest sweet manufacturers with a business with a turnover of £150m and 1,500 employees.
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