Starco is a manufacturer of tires with 32 global companies, where seven of these are located in Western Europe with an additional seven in Eastern Europe, while production is spread across four countries. The tires manufactured by Starco is used on e.g. trailers; vehicles that move at high speeds. Furthermore, Starco tires are used on agricultural machinery, prompting safety to become a top priority, both when the product is taken into use but also on preliminary production and test phases.
Group Finance Director
Confusing Insurance Tasks
The complexity surrounding their insurance efforts were too complex for Starco to handle internally, motivating them to seek new opportunities.
”We chose to engage in a partnership with Hansson & Partners, a relationship that has been ongoing for the past four years.”
Starco didn’t initially believe that there were high levels of risk tied to their operations but upon finding the right partner in Hansson & Partners, their viewpoint shifted.
”There are very specific and strict requirements for manufacturing tiers. If one sets on fire, this won’t be use to put out straight away, meaning that there are rigorous conditions for fire safety in warehouse before any insurance company will take us on as a client and it is therefore crucial for us as a manufacturer to know whether we’re covered insurance-wise in the countries where we operate.”
The economic factors were also difficult for Starco to decipher; a worry that Hansson & Partners eliminated with its transparent pricing while the partnership also lead to cost savings on Starco’s end.
”However, the price isn’t the deciding factor in our partnership with Hansson & Partners; here, it comes down their great service and insurance coverage.”
As Starco are represented in different countries, a global insurance program was applied to their needs, allowing for Starco’s headquarters to control the individual insurance policies for each respective country.
”Naturally there are challenges tied to this, i.e. in a country such as Kazakhstan where domestic insurance companies are cheaper, however they would in no way fulfil our criteria for insurance that is demanded across the organization. The only places where we work with local insurance companies are those where a global partner isn’t an option.”
The relation between Hansson & Partners and Starco is of a close nature, allowing Starco easy access to its insurance partner.
”We’ve had COO Pia Eienstrand as our point of contact who’s provided a swift and accurate response whenever we’ve had doubts or questions of an insurance-related nature. We have an annual meeting with Hansson & Partners along with continued communication with Eienstrand with ad hoc inquiries.”
Starco’s insurance concerns are no longer an issue for the company as a result from its partnership with Hansson & Partners.
”We merely have to tell Hansson & Partners what we’d like on the insurance area and they’ll handle the rest. They’ve provided solid, thorough advice and guidance on the standards of the industry and taken the ball from there.”
Starco sees the partnership with Hansson & Partners as unproblematic, professional and simple. Cases have been solved according to the pre-set desired outcomes.
”Hansson & Partners are an independent expert in deciding what’s best for our insurance needs; something that we find to be the key benefit of our partnership with them. We’re highly satisfied with our partnership and find that Hansson & Partners undoubtedly cover all aspects of our insurance needs.”