Creating a foundation for future growth and innovation
Creativity and infinite adaptability are the cornerstone of GCL’s business strategy and mindset. From humble beginnings as a supplier of Italian and continental ingredients to local food businesses in Nottingham, today GCL has grown to become a leading national supplier of inspirational food products and ingredients to the food service and industrial sectors.
Undaunted by market-changing events like COVID-19, the war in Ukraine and the cost of living crisis, the firm has been inspired by such challenging circumstances to develop new products and services that add real value for customers.
With ambitions to become a centre of excellence for food innovation, the company is determined to become the ‘chef’s choice’ and doesn’t hold back when it comes to approaching customers and engaging in co-creation activities that will generate a win-win for all.
Determined to take charge of its destiny, GCL looks to work with other like-minded organisations that have the same ‘can do’ collaborative approach to doing business.
Dissatisfied with the way its existing insurance broker was working on its behalf, GCL took the decision to change direction mid-term and appointed Marsh Commercial to undertake a thorough review of its risk profile, and to re-package how the business was presented to insurers.
Rethinking risk management in a differentiated way
Against the backdrop of a hardening insurance market, GCL needed to be certain its multifaceted business operations were appropriately insured at the best possible price.
Engaging with Marsh Commercial introduced both fresh thinking and more transparent approach that quickly helped GCL’s management teams re-ignite their confidence in the value of insurance and how it can support a business – not hinder it.
Delivering a better renewal experience
Working closely with the teams at GCL, Marsh Commercial took time to understand in detail the different business areas and to get a clear view of risk. Armed with this insight, Marsh Commercial would be able to accurately present GCL to insurers at renewal.
Alongside evaluating the firm’s potential business exposure, resilience and recovery plans, Marsh Commercial appointed an independent survey company to assess the construction of all physical buildings. This would ensure that the underwriting criteria of the maximum possible number of insurers could be met.
Working with risk engineers from various insurance companies, the team also provided updated insights that represented a much more accurate picture of the actual risk profile of the business. That included demonstrating that manufacturing accounted for just 20% of the annual business turnover.
As a result, GCL achieved a 25% reduction in its most recent renewal premium and has confidence that its current insurance programme is fit for purpose.
Navigating the future
As GCL prepares its business roadmap for the next three to five years, Marsh Commercial will be working alongside the management team every step of the way.