Supply Chain Management
CWMC is frequently called on to help insurers and their suppliers establish practical and effective monitoring and control mechanisms to underpin a successful working partnership.
Setting a clear, formal framework encourages good service, improved communication, continuous improvement, innovation and value for money.
Typically, our work for insurers includes:
- Analysis of whether to outsource or not
- Identification of suppliers
- Developing procedures that demonstrate compliance
- Looking for pragmatic yet innovative solutions
- Negotiation of outsourced contracts
- Pinning down service level agreements
- Acting as independent observers at review meetings and recommending service enhancements
- Improving reporting processes and ensuring adequate monitoring and controls
- Putting in place safeguards to help avoid the huge costs and problems of supplier failure
- Developing joint continuous improvement audit programmes
An experienced and independent view
Like many insurance companies faced with the challenge of ensuring FSA compliance, our client - a virtual insurer with inevitably limited internal resources - needed access to an experienced and independent team that could help it develop and implement a monitoring programme on its outsourced claims suppliers.
CWMC first conducted a detailed risk assessment of the insurer’s suppliers then implemented a customised two-year audit programme. As part of the programme, we also looked at claims training, regulatory compliance, complaints-handling and opportunities for future business improvement.
Our flexibility and experience allows us to focus on where need is greatest, ensuring faster and more cost-effective results.
Genuine innovation
Our insurance client had a major problem with its motor salvage arrangements following the collapse of its existing salvage supplier. CWMC undertook market analysis, identified, interviewed and vetted a range of appropriate new suppliers and assisted the client with a tender process.
Following shortlisting of the preferred supplier, we developed with the insurance company and the supplier a completely new proposition for how a salvage contract could work to their mutual benefit.
A first in the UK, this new contract included a 'risk and reward' profit share arrangement, a dramatic reduction in administration and bureaucracy, and the opportunity to offer customers the use of high quality recycled spare parts in cases where they did not want to see their vehicles completely written off.
Contact CWMC today for your free no obligation meeting to review the effectiveness of your monitoring and auditing programme for your supply chain.
