PRPLLC

CLIENT TESTIMONIAL

"We met a number of players in the space and found that PRP's style and acumen was truly unique. They are not simply providing cost savings, they are giving our portfolio companies incredible insight into their procurement process, a process that most companies do not have the resources or ability to manage properly. At the conclusion of PRP's process, its clients are given the ability to choose among a menu of options; one option always includes their current vendors. This approach was very important to us, given the decisions and vendor relationships that can be somewhat sensitive at certain portfolio companies."

Adam Weinstein
Director and Controller
New Mountain Capital

Adam Weinstein

Insurance

Whether your business is property casualty, life or health, we know your primary concern is calculating risk. With limited growth projected in the near-term future, firms must continue to battle for market share in a somewhat commoditized market. While you focus on risk and differentiating your services, let PRP focus on costs to create a winning combination. We understand the competitive pressures you face, such as:

Industry Challenge PRP Solution
The networks market share of claims work will expand. Insurance companies must be very careful to meet contractual specification fully. In addition, insurance agents are asking to be held harmless if clients do not follow their recommendations for needed coverage. This will place additional pressure on firms to make sure they are working with highly professional agents and consultants. Our industry expertise means we provide you with competitive benchmarking to ensure your vendor spend and selection is on par with the best within your industry.
The economic downturn resulted in decreased revenue. Insurance companies are seeing fewer returns on their investments. This is where PRP can help you find hidden margins through our cost savings management and verification work.
Consolidated companies create duplicative processes. Whether through acquisition or merger, insurance companies are seeking to streamline procurement processes and apply smart procurement strategies across the board. Our industry expertise means we provide you with competitive benchmarking to ensure your vendor spend is on par with the best within your industry.

We defeat hidden costs through our Document Management experts, slashing waste among office equipment and its maintenance, capital equipment leasing, facilities management, managed print services, record storage, document destruction and outside printing services. Our Office Products expertise lets us score cost reductions and improved service with office supplies, janitorial supplies, refreshment services and promotional products. Plus, our experts serving up Information Technology cost-containment sharp-shoot savings with your telecommunications, wireless services, conference calling, data and voice network services, Internet as well as hardware and maintenance.

OUR INSURANCE CLIENTS BENEFIT FROM:

  • In-depth Industry Expertise – Gained from working in your vendors industries and from more than 1,800 engagements.
  • Purchasing Leverage – Take advantage of our annual managed spend of more than $2.4 billion to gain competitive pricing, the highest possible service levels and favorable contract terms.
  • Continuing Support and Verification – Our exclusive Solutions Management Team manages savings results, vendor compliance and internal compliance to ensure maximum savings are realized and future costs do not increase. Visibility is gained through custom dashboards and line-item reporting.

Learn how other financial institutions make PRP part of their organization. Contact us today.


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