Changes in a company’s risk profile due to international expansion, new acquisitions, new business lines, or increased external threats such as cyber or climatic risks, mean that insurance policies need to be reviewed regularly to ensure that coverage requirements, insurance solutions and costs are consistent.
Faced with these challenges, our customer wanted to be supported by a broker who could place his risk at the best conditions, enable him to benefit from a reinforced pooling effect by deploying extensive international programs, and provide him with a service tailored to his needs. To achieve this, we challenged existing insurance solutions by launching a “conceptual” call for tenders to optimize the total cost of risk (TCOR) by adapting cover, retention levels, limits/sub-limits and insurance premium amounts in line with business trends and market offerings.
Our customer, a major international group in the Aerospace and Defense sector, has suffered numerous crises linked to business interruptions at its own sites and those of its suppliers, and would like to have a continuity plan for its programs, integrating its entire Supply Chain network.
Initially, business continuity plans were specific to each site and existed in a variety of formats, were not interconnected, and did not include suppliers. These programs mobilized resources at each site, and involved numerous suppliers. An interruption could lead to delays and very substantial penalties.
Main achievements
Construction of a Business Impact Analysis model and a Supply Chain BCP model
We began by mapping the flow of components and the use of resources (equipment, testing and assembly resources) on the most critical programs.
We had to build a specific model to identify critical resources by simulating the impact of supply interruption scenarios for all or part of industrial sites.
We then listed back-up solutions and evaluated implementation times, so as to integrate them into a continuity database containing useful documents and contacts in the event of a crisis.
This enabled the sites’ BCPs to be updated according to a common BIA, a global mapping of resources and a unified format.
Key figures :
150 critical resources qualified
300+ critical suppliers mapped
1 single BIA covering all 10 major programs
