Demonstrating Value

Economy, Efficiency and Effectiveness

The Education Skills Funding Agency advises schools to secure ‘Value for Money’ when fulfilling their insurance requirements. The National Audit Office defines this through 3 categories: Economy, Efficiency and Effectiveness.

At School Insure, we know that not every school is the same and, in most cases, have their own unique set of risks they need to cover. That’s why we don’t provide a one-size fits all package. Instead, we tailor our cover to your own set of needs. This ensures that your cover is entirely effective; and, in turn, can lead to significant savings in economy and efficiency.


Our commitment is to identify the best solution for your school – even if this means advising you we cannot be competitive – however, for the majority of schools we are confident that our proposition will achieve demonstrable value for money. 

Economy, Efficiency and Effectiveness

The Education Skills Funding Agency advises schools to secure ‘Value for Money’ when fulfilling their insurance requirements. The National Audit Office defines this through 3 categories: Economy, Efficiency and Effectiveness.

At School Insure, we know that not every school is the same and, in most cases, have their own unique set of risks they need to cover. That’s why we don’t provide a one-size fits all package. Instead, we tailor our cover to your own set of needs. This ensures that your cover is entirely effective; and, in turn, can lead to significant savings in economy and efficiency.

Our commitment is to identify the best solution for your school – even if this means advising you we cannot be competitive – however, for the majority of schools we are confident that our proposition will achieve demonstrable value for money. 

 

 

Economy, Efficiency and Effectiveness

The Education Skills Funding Agency advises schools to secure ‘Value for Money’ when fulfilling their insurance requirements. The National Audit Office defines this through 3 categories: Economy, Efficiency and Effectiveness.

At School Insure, we know that not every school is the same and, in most cases, have their own unique set of risks they need to cover. That’s why we don’t provide a one-size fits all package. Instead, we tailor our cover to your own set of needs. This ensures that your cover is entirely effective; and, in turn, can lead to significant savings in economy and efficiency.

Our commitment is to identify the best solution for your school – even if this means advising you we cannot be competitive – however, for the majority of schools we have the utmost confidence that our proposition will achieve demonstrable value for money.

There are many factors to consider when assessing economy:
  • How much are you spending?
  • Are you paying for cover you don’t need?
  • Do you have a gap in cover that needs to be paid for separately?
  • How much time do you spend chasing your insurer for correct documentation/responses to queries?
  • How much time do you spend amending your cover when needed?
This can be determined by the quality of your claims service, cover and account management. Considerations include:
  • How quickly does your risk transfer partner indemnify you following a loss?
  • How well does your risk transfer partner support you in preventing losses occurring altogether?
Spending wisely means having a risk transfer partner that understands your needs and helps you choose the right cover at the right time.
  • Do you have all the covers you need?
  • Do you have too much/ too little cover for your needs?
  • Can your provider be flexible for your needs?
  • Does your provider make it clear which covers you do not have but could benefit from?