Confidence in the face of change with GCL Food Ingredients

Creating a foundation for future growth and innovation

Creativity and infinite adaptability are the cornerstone of GCL’s business strategy and mindset. From humble beginnings as a supplier of Italian and continental ingredients to local food businesses in Nottingham. GCL has grown significantly. Today, it is a leading national supplier of inspirational food products and ingredients. It is focused on serving the food service and industrial sectors.

The firm has remained resilient through market-changing events. Such as COVID-19, the war in Ukraine, and the cost-of-living crisis. These challenging circumstances have inspired it to develop new products and services. These offerings add real value for customers. 

With ambitions to become a centre of excellence for food innovation, GCL is determined to become the ‘chef’s choice’. It doesn’t hold back when it comes to approaching customers and engaging in co-creation activities that will generate a win-win for all.  

GCL looks to work with other like-minded organisations that have the same ‘can do’ collaborative approach to doing business.

Dissatisfied with the performance of its existing insurance broker, GCL decided to change direction mid-term. It appointed Marsh Commercial to conduct a thorough review of its risk profile. Additionally, the firm aimed to repackage how the business was presented to insurers.

Rethinking risk management in a differentiated way

In a hardening insurance market, GCL needed to ensure that its multifaceted business operations were adequately insured. It also aimed to secure the best possible price for that coverage.

Engaging with Marsh Commercial introduced fresh thinking and a more transparent approach. This helped GCL’s management teams regain their confidence in the value of insurance. They recognised how it can support a business rather than hinder it. 

Delivering a better renewal experience

Working closely with the teams at GCL, Marsh Commercial took the time to understand the different business areas in detail. This allowed them to gain a clear view of the associated risks. With this insight, Marsh Commercial would be able to accurately present GCL to insurers at renewal.

In addition to evaluating the firm’s potential business exposure, resilience, and recovery plans, Marsh Commercial appointed an independent survey company. They were tasked with assessing the construction of all physical buildings. This would ensure that the underwriting criteria of the maximum possible number of insurers could be met.

Working with risk engineers from various insurance companies, the team provided updated insights. These insights represented a much more accurate picture of the actual risk profile of the business. That included demonstrating that manufacturing accounted for 20% of the annual business turnover. 

As a result, GCL achieved a 25% reduction in its most recent renewal premium. The company now has confidence that its current insurance programme is fit for purpose.

Navigating the future

GCL is preparing its business roadmap for the next three to five years. Marsh Commercial will be working alongside the management team every step of the way.