About the Dennison Group
Dennison Group is the printing industry’s best kept secret, having provided technical support and solutions to industrial and commercial printers worldwide for more than three decades.
As the heart of a printing business, equipment needs to function optimally at all times.
In the event of a breakdown, printers require swift and efficient resolution to minimise downtime.
Dennison Group offers a range of support options, including maintenance contracts that cover both parts and labour, ensuring that printers can rely on prompt and effective solutions.
Balance sheet and cash flow constraints
Dennison Group commits to providing a support contract on an item of machinery, it does so for 12 months.
Dennison Group carries the risks of both the cost of parts and labour for all components that fail during the period of the support contract. This means
Dennison Group either needs to hold parts in stock or run the risk of higher than expected costs when a component fails. Neither option can support
Dennison Group’s growth objectives.
Unlike some of its competition, Dennison Group has traditionally managed this risk by limiting the number of service contracts it takes on. An unexpectedly high number of claims could put a business that has been building its reputation since 1993 at risk.
Using insurance to reduce risk
Roy Milner, the Managing Director of Dennison Group, faced a challenge. He wanted to expand their service contracts to cover a wider range of equipment but was concerned about the potential claims exceeding their spare parts stock, some of which can be very costly. However, with the help of printinsure, Dennison Group collaborated with Specialty Risks to mitigate this risk.
Specialty Risks offered a customised Contractual Liability Insurance Policy (CLIP) underwritten by AmTrust Europe Limited, which can cover all Dennison Group’s Gold parts and labour maintence contracts. This enabled Dennison Group to offer service contracts for a broader range of equipment, including Computer-to-Plate (CTP), Digital inkjet printers and Digital cutting systems.
The CLIP’s administration is straight forward for Dennison Group as they can declare new equipment on the bespoke online portal built by Specialty Risks. Moreover, Dennison Group has real-time access to their policy data through a dedicated PowerBi report.
Claims are also submitted online on a dedicated claims website. Dennison Group can submit claims at any time and upload their invoice and engineers’ reports. Claims are settled monthly.
Growing Dennison Group’s maintenance contract business
Thanks to its collaboration with Specialty Risks, Dennison Group has been able to expand its maintenance contract business to cover equipment it was previously hesitant to include. By working with Specialty Risks, Dennison Group has also been able to offer maintenance contracts to customers who were previously locked into costly support contracts with manufacturers.
Dylan Milner, responsible for growing
Dennison Group’s maintenance contract business, has noted the positive impact of working with
printinsure and Specialty Risks. He stated that since partnering with them,
Dennison Group has been able to quote on a wider range of equipment. Milner praised the responsiveness of printinsure and Specialty Risks to new equipment items, noting their understanding of
Dennison Group’s market and business goals.
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