Top Insurance Broker Strengthens Cash Management With Redbridge
Industry
Insurance
Region
Global
Service
Cash Management
Challenge
A leading global firm in risk, strategy, and people management recognized the need to enhance transparency and efficiency in its treasury operations. Previously managed independently by their subsidiaries, the parent company began centralizing treasury functions to achieve a cohesive financial strategy and enhance operational oversight.
Solution
The firm partnered with Redbridge to conduct a thorough audit & benchmarking of their existing cash management organization, service utilization, and bank charges. This initiative led to the consolidation of accounts and fees under one umbrella, ensuring fair market value pricing and streamlined operations. The process was facilitated by a comprehensive Request for Proposal (RFP) process, which translated the firm’s needs into actionable insights.
Results
The firm secured multi-year contracts with their banking partners, achieving nearly 60% savings through price reductions, service reviews, and optimized earnings credits. Banking relationships were preserved and also strengthened due to increased transparency and fairness in dealings. The ongoing use of Redbridge’s HawkeyeBSB system continues to monitor and validate expenses, ensuring sustained compliance with global market best practices.
“Helping the client move from a fragmented treasury model to a centralized one meant navigating legacy processes, siloed data, and varied fee structures. We brought everything into one clear, strategic picture.”
Mike Russell
Director, Redbridge