Case Studies > Raymac Surveys Saves on Insurance, Expands Visibility with Avetta

Raymac Surveys Saves on Insurance, Expands Visibility with Avetta

Company Size
11-200
Region
  • America
Country
  • United States
Product
  • Avetta Marketplace
  • Avetta Supplier Platform
Tech Stack
  • Supplier Registration Process
  • Insurance Verification
Implementation Scale
  • Enterprise-wide Deployment
Impact Metrics
  • Cost Savings
  • Customer Satisfaction
  • Digital Expertise
  • Productivity Improvements
Technology Category
  • Platform as a Service (PaaS) - Connectivity Platforms
  • Platform as a Service (PaaS) - Data Management Platforms
Applicable Industries
  • Construction & Infrastructure
  • Utilities
Applicable Functions
  • Business Operation
  • Quality Assurance
Services
  • System Integration
About The Customer
Raymac Surveys Ltd. is a company engaged in specialized surveying activities, including locating underground utilities. The company has a small staff and faced difficulties in negotiating insurance rates due to its size. Raymac Surveys needed proper insurance coverage to protect its employees, business, and customers, especially given the potentially dangerous nature of its work. The company also had to manage time-consuming and complicated insurance documentation processes. To address these challenges, Raymac Surveys teamed up with Avetta, a platform that connects suppliers with leading global organizations and provides access to business resources and discounts.
The Challenge
Raymac Surveys faced significant challenges in securing appropriate and cost-effective insurance coverage for its specialized surveying activities. The company struggled with high insurance costs and time-consuming documentation processes. Additionally, Raymac Surveys needed to frequently adjust general liability amounts to meet client requirements, which was a cumbersome process. The company also sought to streamline the process of answering supplier questionnaires and providing insurance information to clients. Furthermore, Raymac Surveys aimed to obtain cybersecurity insurance to protect its business activities in the future.
The Solution
Raymac Surveys discovered Avetta when its longtime insurance company was acquired, and the new parent company joined the Avetta Marketplace. By registering with Avetta, Raymac Surveys gained access to exclusive benefits and partnerships with insurance providers. This allowed the company to significantly reduce its insurance premiums and find the right coverage for its current and future needs. The Avetta Marketplace also provided Raymac Surveys with resources for safety-related services and products, as well as discounts on work clothing. Additionally, the Avetta Supplier Platform enabled Raymac Surveys to upload its company information and documentation, making it visible to construction and utility companies that use Avetta to manage their suppliers. This streamlined the process of providing information to multiple clients and prospects, saving time and effort.
Operational Impact
  • Raymac Surveys saved 40% in premium costs for employee health insurance.
  • The Avetta Marketplace helped Raymac Surveys find insurance coverage for current and future needs.
  • Raymac Surveys employees saved money with discounts on safety products and clothing.
  • Prospective clients can easily view information on Raymac Surveys’ services, insurance coverage, and other supplier details.
  • The company no longer needs to complete questionnaires for each individual company, as information is stored on the Avetta platform.
Quantitative Benefit
  • Saved 40% in premium costs for employee health insurance.

Case Study missing?

Start adding your own!

Register with your work email and create a new case study profile for your business.

Add New Record

Related Case Studies.

Contact us

Let's talk!
* Required
* Required
* Required
* Invalid email address
By submitting this form, you agree that IoT ONE may contact you with insights and marketing messaging.
No thanks, I don't want to receive any marketing emails from IoT ONE.
Submit

Thank you for your message!
We will contact you soon.