Case Study: JLT

From ensuring exceptional insurance protection to holding fundraising events, Jardine Lloyd Thompson (JLT) has the interests of The Kids Research Institute Australia well covered.

JLT, a global provider of risk and insurance, reinsurance and employee benefits-related advice, brokerage and associated services, was appointed as The Kids Research Institute Australia’s insurance Supply Partner in 2015.

Kristy Le May, Head of Corporate Governance and Strategy for the Institute, said JLT had already provided renewals for a range of insurance products, such as workers compensation, medical malpractice, public liability and motor vehicles.

“They advise us on what insurance coverage is provided, make recommendations whether we should change products, tell us what we’re covered for and how to address if there are any gaps,” she said.

“We have a very broad insurance portfolio because of the nature of the work that we do, so they have really value-added for us, looking at the whole suite of things we need to cover and making recommendations on the best products to cover that.

“They have found savings and better coverage for us and reduced our risk because it’s such a harmonised suite of products with less gaps, which means less grey areas if we make a claim.”

Ms Le May said JLT had proven itself as a trusted adviser to the Institute. “This partnership has helped our research governance team by providing them with a go-to specialist to discuss research projects and ensure that we have the necessary indemnities in place for clinical trials. JLT has also provided assistance in reviewing contracts when there is an insurance component.

“This partnership ensures that we’ve got the risk and insurance framework in place to enable us to do great research, which ultimately benefits the lives of children.”

Sarsha Neal, JLT’s Divisional Manager - Specialty, said its partnership with The Kids was about much more than insurance brokering.

“Our relationship with The Kids is still young but we have already improved the Institute’s insurance policies and coverage, and decreased premiums. We also provide risk management, analytical and advisory services,” she said.

“When JLT can leverage our sector experience to improve the risk profile of The Kids, it, in turn, can provide better support to the children and families it serves. It’s a ‘win-win’ for everyone.”

Ms Neal said in addition to helping the Institute through its day-to-day services, JLT also assisted with fundraising, teaming up with companies in the insurance and financial services industry to raise $10,000 at the first annual cocktail function for The Kids.

“Our partnership has additional benefits for the Institute as well, through follow-on conversations we have with clients, prospects, corporate colleagues and employees,” Ms Neal said. “This raises the awareness and profile of The Kids to a well-heeled group of new supporters, to increase its fundraising potential.

“We are extremely proud and fortunate to serve a client such as The Kids. The work the Institute does is critical to the health and wellbeing of affected children, significant for their families and carers and inspiring to all of the people of JLT Australia.”