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Procurement
often scared of public procurement – we aim to support our customers through every step of the journey. The framework provides easy access to brokerage services, saving you time and helping you get started. Choosing a broker – with the right skills, knowledge and market relationships – is key in getting
Q
Is the Government’s risk protection arrangement
(RPA) a good solution? A Your broker will undertake a feasibility study on which option
is the best for you – whether it is to buy from the RPA scheme or arrange insurance on your own. Bear in mind that RPA is only available to academies and free schools.
Our existing cover expires in six months. When should we start exploring other options?
Q A To get the best outcome, you need to start as soon as possible.
Appointing a broker should take place six months prior to your insurance contract renewal. If the feasibility study shows that arranging insurance on your own is a better option, you will need to work with a broker to prepare all documentation in order for the insurer to provide a quote. This may include providing details of your existing insurance cover, past and outstanding claims, and details of the risk management processes. Be prepared to have a valuation of the buildings undertaken if it hasn’t been done for a long time.
Q
Our insurance is arranged by the Local Authority.
Can we still arrange our own? A Schools have various choices.
They can buy all insurance
through their Local Authority’s scheme, buy the whole insurance on their own or do a combination of both. Sometimes schools buy additional covers depending on
Q
Do we really need to use a broker?
A Yes! Brokers are specialists in handling insurance business.
The majority of insurers only operate through broker markets, which means they will not provide a quote if a broker service is not being used. A broker will evaluate your risk and design an insurance programme conditions and added value. Insurers active in the education sector often offer a number of days covering risk management or business interruption training (depending on the school’s requirements).
Q
Can we get a better deal by buying across our MAT or with a consortium of schools?
A In either case a full assessment of each individual school will be
needed. Again, schools need to work best meets their requirements.
YPO has over 80 procurement frameworks. To find out more about the procurement service and to get advice on how you can make the most of your school budgets, contact YPO on 01924 834834 or email
procurementservices@ypo.co.uk. YPO works with
suppliers across the UK to offer the latest products and services to schools at the most competitive prices. Explore over 30,000 products at
ypo.co.uk/products.
CASE STUDY: ‘WE SAVED £50,000 ON OUR INSURANCE COVER!’
‘During the 2016-2017 academic year, Woodbridge High School teamed up with a group of primary, secondary and special schools across the Redbridge area to consider alternative procurement options. One such contract was the annual insurance premium, which had routinely been provided by the local council. The group, known as the Schools’ Procurement Working Party, enlisted the
services of YPO to work with us within a government insurance framework as a means to provide Redbridge schools with a cost-effective annual contract. YPO suitably robust scheme to meet our needs. This included provision for public and employers’ liability, contents and buildings, trips and minibus insurance cover. After a thorough tendering process undertaken most professionally by YPO,
our broker was able to identify an insurance provider to recommend to Redbridge schools. In total, 28 Redbridge schools signed up with the chosen provider. The schools are grateful to YPO for supporting us in establishing considerable annual budget savings. Indeed, my school alone enjoyed a saving of £50,000 (as well as increased cover) as a result of this valuable procurement exercise.’ Frank Gordon, Business Manager, Woodbridge High School, Woodford Green, Essex (1,660 pupils)
the school’s circumstances, such as staff absence cover, motor insurance, and cyber risk cover.
HOW CAN YPO HELP? Ref: RM3731 covers brokerage and insurance (underwriting), delivering transparency and cost-effective risk management via access to a range of suppliers.
Lot 1 - Insurance and associated services covers the provision of a range of insurance policies and offers you access to key market players and specialist insurance companies. When making a choice of insurer you should consider: the cost of the premium, the coverage offered and exclusions, financial stability, capacity, capability and claims handling philosophy.
Lot 2 - Insurance brokerage and associated services is the first step and gives you access to brokerage advisory services and traditional brokerage services, which covers the process of tendering for insurance. Engage and appoint a broker as soon as possible – ideally at least six months before your insurance renewal. A broker is your gateway to the insurance market.
YPO offers a range of user guides, blog articles and webinars to help get you started. Or contact the team of experts to discuss your needs: 01924 664675 or email
insurance@ypo.co.uk
FundEd SPRING 2018 51
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