HSB Engineering Insurance restructures fleet policy with help of GE Fleet Services

Engineering insurance specialist HSB Engineering Insurance Ltd, together with its engineering inspection subsidiary HSB Haughton, has restructured its company car policy with the help of GE Commercial Finance, Fleet Services.

The company, with UK fleet operations in Oldham, is switching its 270 cars from outright purchase to contract hire after working with GE’s Key Solutions team, who provide a consultation service based on the Six Sigma process improvement methodology.

Garth Murphy, Financial Director at HSB Haughton, explained: We first began working with GE Fleet Services 12 months ago, with their one stop shop approach to fleet management proving very attractive for us.

During this time, GE has become accustomed to our fleet requirements and company culture. Using their Key Solutions process, GE helped us identify different fleet options with the result that we are moving this month from a purchase price-based policy to a whole life costs-based policy. This promises worthwhile savings as well as removing the hassle of dealing with company cars on a day to day basis.

We’ll also be making use of online services including GE’s iQuote system, which will allow our drivers to make informed vehicle choices online. We’re very pleased with the results.

Rich Green, Managing Director at GE Fleet Services, added: Key Solutions has achieved savings of between 7-22 per cent for more than 230 UK fleets over the last three years. We’re very pleased to see HSB make use of the service successfully.

HSB Engineering Insurance Ltd is part of HSB Group of the USA and is a leading international engineering insurance company. It provides engineering insurance solutions to a wide range of industrial and commercial customers, helping them to protect both their assets and their profitability.

HSB Haughton is a wholly owned subsidiary of HSB Engineering Insurance Limited and a leading independent engineering inspection company providing an accredited in-service inspection service. The company is a full member of the Safety Assessment Federation. Its network of qualified and experienced engineers provides a comprehensive selection of both statutory and non-statutory inspection services.