Hilco delivered on a complex logistics plan to meet the needs of the insured and our client in this insurance claim with sustainable practices at the core.
Our client, a major insurer, was in the process of settling a claim with their client; a retailer of tools and workshop equipment in Australia. Working closely with a prominent Loss Adjusting firm, Hilco was requested to support the complexities of handling the stock and the nature of this claim; involving flooding and the fact that no testing had been performed to assess the operability of products.
Our Insurance clients often operate on tight timeframes, and balancing business continuity, claim assessment and salvage returns is often challenging. Our client needed a salvage valuation, along with a safe path to market for the stock subject to claim.
Partnering with a specialist salvage solution provider was a key concern for our client, given the logistically complex process expected in the remarketing process.
Hilco APAC was selected for this project due to our experience, capability, attention to detail and sales channel knowledge. The solution deployed immediately by the team was multi-faceted.
4 shipping containers of stock were immediately uplifted to a Hilco facility for processing, allowing the insured to commence business recovery work.
Given the need to be transparent with buyers, Hilco undertook a comprehensive test and tag and operability tests. This was performed to ensure public safety.
Given the volume and depth of stock, Hilco ran several unreserved auctions on the Hilcoapac.com platform.
Each sale was supported by an integrated marketing campaign across social, search and direct channels.
When working with insurance salvage assets in particular, our team will find ways to create value for buyers, thereby minimising waste and landfill impacts on the environment.
The return to the client amidst complexities in logistics, cataloguing and sale program delivery, were well above expectation. The Hilco team managed the entire process on behalf of the insurer, so our client could move onto other demands.
The logistics associated with this claim in location, quantity and presentation, made this a complex movement of stock. We were able to deliver within very fast timeframes.
Our remarketing plans always include sustainable practices as a core requirement, reducing landfill by ensuring assets stay in utility is a key concern for our team.
Delivering a sale strategy that involved dividing the sizeable stock parcel into logical sales delivered the best possible return for the client.
the Asset Smarter way
Want to know more? Speak to one of our specialists
George has developed a career spanning over 20 years in Sales and Relationship management in the financial services industry, in particular within general insurance. With roles across client services and business development, George has built an impressive network of contacts within the Loss Adjusting, insurance claims, brokerage and building consultancy community. George has worked for Sedgwick in Australia for almost 10 years, niching in claims services (Loss Adjusting), Building consultancy and strata services to Australian Insurers. George holds a Bachelor of Business (Marketing ) degree and a Certificate IV in General Insurance through ANZIIF.
Michael has over seven years of experience in the auction industry where has managed client sale programs from a range of different sectors.
Michael runs the frontline for customer support at Hilco Global APAC, builds and maintains client relationships, troubleshoots curly questions and assists in the development of large contract and tender solutions.
Strictly Necessary Cookies
Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.
If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.
3rd Party Cookies
This website uses Google Analytics to collect anonymous information such as the number of visitors to the site, and the most popular pages.
Keeping this cookie enabled helps us to improve our website.
Please enable Strictly Necessary Cookies first so that we can save your preferences!