Business Services

Ironshore

Ironshore was founded by industry leaders Bob and John Clements in 2006. With a holding company with over a billion dollars in fresh capital, Ironshore has become one of the fastest growing companies in the insurance industry.

Challenge

Ironshore provides broker-sourced specialty commercial property and casualty coverage for risks located in the United States and throughout the world. Their international business has been exploding due to their innovative approach to what some people call a dusty industry (sound familiar?).

Ironshore was referred to FGX through CDW (one of the largest computer re-sale companies in the world) as they were purchasing high end computer and electronic equipment that was ultimately going to need to be shipped to their international offices after being configured in the US. Ironshore was experiencing the negative side effects so often described from our clients that used to use one of the hub-and-spoke carriers. Ironshore was deploying IT staff to land a day or so before the computer equipment in locations that they have offices internationally. When equipment got delayed in transit it caused a chain reaction that effected many departments, budgets and time-lines. Couple this with the lack of administrative support offered from the legacy carriers and you’ve got a bad situation on your hands.

Solution

FGX opened a line of communication directly with the supplier (in this case CDW) to obtain all UN codes and manufacturer specs (for export and trade issues, as well as for certificate of origin purposes) for which Ironshore was planning on purchasing. FGX then audited and cross referenced all of these goods for trade agreements that would allow for Ironshore to be able to save money on it’s duty and tax bills. Also, FGX began managing the administrative tasks associated with the exportation of their pre-configured high end computer equipment internationally. FGX agreed to have Ironshore’s computer equipment delivered directly to FGX removing them entirely from the supply chain in the US.

Benefits

By working with FGX (as opposed to a legacy hub and spoke shipper) Ironshore was able to leverage our direct shipping model to great ends. As is always the case with our point-to-multi-point model your shipment is either Here, There or In the Air. This transit simplification allows Ironshore to easily plan it’s deployment of IT staff to meet the equipment it needs to successfully do it’s job.

FGX removed the labor obligation for the management of administrative, compliance and local logistical work for Ironshore. When you work with FGX you can count on an efficient customs clearance process internationally, in this case time is real money for Ironshore. By working with FGX, Ironshore properly leveraged all trade agreements currently in place, lowering their duties and tax liabilities.

The above benefits have been delivered while staying with-in budget, because of this FGX continues to grow right there with Ironshore.