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WILLIS RETAIL PRACTICE ADVICE AND PROTECTION FOR THE RETAIL SECTOR CUSTOMER RELATIONSHIPS. BRAND. REPUTATION. PROFIT MARGIN. PROFIT MARGIN. AS A RETAILER YOU WORK HARD TO GROW THEM - AS AN INSURANCE AND RISK ADVISOR WE WORK HARD As a retailer you work hard to TO grow PROTECT them - THEM as an FOR insurance YOU. and risk advisor we work hard to protect them for you. PASSION AND INSIGHT AT WILLIS Willis Retail Practice is comprised of enthusiastic and experienced individuals, all of whom are passionate about the retail sector and some of whom have first-hand experience of working in risk and loss management in the retail sector. The team is flexible and efficient and these qualities are integral to supporting the fast-paced retail environment. Willis is proud to be the only broker to work in partnership with the British Retail Consortium. We are keen to share our passion and offer training sessions via our Willis Client Academy. We hold regular industry-specific seminars, mock trials and issue hot topic bulletins. KELVYN SAMPSON, RETAIL PRACTICE LEADER WE ARE ALWAYS DEDICATED TO RETAIL From independent stores to large international retailers, Willis dedicated Retail Practice is armed with the risk and insurance experience and sector insight to navigate retail businesses of all descriptions through today s complex risk environment. Rather than following an agenda set by a traditional insurance-buying practice, we map risks under key business drivers within the retail sector including: - CRM/Data Management - Marketing and communications - Staff behaviours PRODUCT RANGE - Product range - Traditional Branding - Physical or online site We then apply our skills, expertise (and enthusiasm) to align insurance and risk management advice and solutions directly to the risks associated with the relationship between a retailer and its customers. Our experience has demonstrated that this strategy successfully focuses on the key risks facing retailers today. TRADITIONAL THE SITE BRANDING CUSTOMER RELATIONSHIP B R A N D RETAILER P R OT ECTIO N STAFF CRM/DATA MANAGEMENT BEHAVIOURS MARKETING & COMMUNICATIONS MANAGING RISKS, MANAGING COSTS Financial pressures in the retail sector are unrelenting. A reduction in consumer spending, compounded by rising commodity and production costs plus higher utility, fuel charges and business rates, has meant for most retailers that profit margins are continually challenged. Our approach is to fully understand your business, its objectives and risk appetite, and balance the control measures and protection we recommend against your day-to-day transactional business and your overall strategic aspirations. Cost-effectiveness is central to our proposition and we work with our client base to identify and evaluate protection levels and expenditure across an entire business. We leverage our scale and breadth of industry experience to deliver value to our clients including: RISK OF CHOICE We use our expertise to deliver the optimum risk transfer programme. We work with our clients and the insurance market in a tripartite relationship, always aiming to present our clients as a risk of choice to create competitive tension between insurers. Using this approach we secure tangible savings for our clients including long-term agreements, risk management bursaries and low claims discounts. MANAGING INDIRECT COSTS We leverage the knowledge and expertise of our in-house technical experts to provide our clients additional balance sheet protection. We do this by evaluating insurance policies to provide bespoke retail policy wordings to ensure the most appropriate cover applies. Additionally we provide expert advice on the insurance implications of important third party contracts, including logistics, concessions, refurbishment and those relating to landlord/tenant arrangements. EASE OF ADMINISTRATION We operate as an extension of our clients organisations and absorb insurance-related administrative burden. This allows our clients to focus on the advice we present and evaluate the most appropriate implementation strategy. To further ease administration we invest in a wide range of IT platforms to enable the free flow and sharing of information between ourselves and our clients. BENCHMARKING The strength of our positioning in the retail sector and the portfolio of clients we hold means that our benchmarking data is an extremely powerful tool to differentiate risk profiles to the insurance market. Willis undertakes benchmarking analysis in the following areas: - Limits of Indemnity - Premium rates - Covers purchased - Claims frequency and magnitude - Level of deductibles Our benchmarking data is an extremely powerful tool to differentiate risk profiles to the insurance market. GIVING YOU, THE CLIENT, AN EXPERT OPINION Willis Retail Practice is experienced in working with customer-facing businesses and we have continuously invested in innovative market research and product development to meet the risk needs of our clients. As a result our risk focus and insurance market placement is expansive; our proficiency encompasses both traditional and emerging business exposures including: - Property - Fleet and Logistics - Liability Insurances - Business Interruption - Supply Chain - Weather Risk - Captives - Product Recall - Cyber Risks - Business Continuity Planning - Brand and Reputation Protection - Political and Security Risks - Risk Management and Health and Safety - Natural Catastrophe Modelling ABOUT THE WILLIS RETAIL PRACTICE GROUP We advise over 50 retail organisations in the UK and Ireland. Our extensive experience allows us to develop a rich understanding of our clients businesses and the retail industry s unique needs. We manage over 40 million in premium on behalf of our retail clients. Our industry focus allows us to build strong relationships with retail insurers, and these relationships create the platform to help us design, negotiate, select and implement insurance programmes for our retailers. As part of a global broking organisation, the retail team is a gateway to the wealth of expertise Willis has to offer. For businesses with international exposures we are able to access our global resources to provide locally compliant services. Our experience spans all industry sub-sectors including: - Clothing and department stores - Food stores - Home improvement, DIY, electrical and furniture stores - Health & Beauty - General merchandise - Other retail establishments, including but not limited to, florists, toy outlets, sporting good stores and jewellers Enthusiastic and experienced individuals, all of whom are passionate about the retail sector. GLOBAL EXPERIENCE LOCAL APPROACH Willis Group Holdings plc is a leading global risk advisor, insurance and reinsurance broker. With roots dating back to 1828, Willis operates today on every continent with more than 17,000 employees in over 400 offices. Willis offers its clients superior expertise, teamwork, innovation, market-leading products and professional services in risk management and transfer. Our experts rank among the world s leading authorities on analytics, modelling and mitigation strategies at the intersection of global commerce and extreme events. Across geographies, industries and specialisms, Willis provides its local and multinational clients with resilience for a risky world. OUR GLOBAL COVERAGE More than 17, COUNTRIES Associates in over Serving clients of every size and type in more than OFFICES Our proficiency encompasses both traditional and emerging business exposures. Willis Limited The Willis Building 51 Lime Street London, EC3M 7DQ United Kingdom Tel: +44 (0) Contact Kelvyn Sampson Retail Practice Leader Tel: +44 (0) Willis Retail Practice is a trading name of Willis Limited, Registered number: England and Wales. Registered address: 51 Lime Street, London, EC3M 7DQ. A Lloyd s Broker. Authorised and regulated by the Financial Conduct Authority for its general insurance mediation activities only. FP1429/11195/05/13
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