How a Tech-Forward Contractor Leveraged Shepherd Savings for a New Admitted GL-Wrap Program
The Shepherd Savings program was a key differentiator from competitors, helping the insured find value in their existing technology investments to improve efficiency and safety across project sites. The Shepherd team worked to understand the client's needs and create a specific solution for them. They were responsive and flexible in adjusting program terms when possible. The client was pleased with the package Shepherd put together, particularly given the quick turnaround required.
- CCIP (Contractor Controlled Insurance Program)
- $89M Educational Facility in Texas
- Term: 2.5 years
- Shepherd Savings Partner: Procore
Contractor Profile
- CCIP (Contractor Controlled Insurance Program)
- $89M Educational Facility in Texas
- Term: 2.5 years
- Shepherd Savings Partner: Procore
Results
For this project, the contractor was able to save more than $50,000 on their premium with Shepherd due to their utilization of Procore. Offering this unique program during underwriting delivered multiple benefits to both the broker team and the client, including:
- Differentiation in our proposal and services
- Competitive pricing
- Tailored and flexible coverage terms
Additionally, our team was able to deliver our Shepherd Savings proposal quickly and efficiently, meeting the broker’s tight timeline and creating a seamless service experience.
Background
Despite the construction industry's increasing adoption of cutting-edge technologies, insurance providers have largely overlooked their impact on job site safety and project quality. Recognizing this gap, Shepherd introduced [Shepherd Savings](https://shepherdinsurance.com/solutions/savings), a program that rewards technology-enabled contractors by integrating construction tech data into the underwriting process. Benefits include:
- Up to 25% upfront premium savings
- Enhanced coverage terms
- Ongoing risk control feedback
Partnering with industry leaders like Procore, Autodesk, OpenSpace, Raken, and Samsara, Shepherd Savings not only provides immediate financial benefits to tech-forward contractors but also encourages continued investment in technologies that improve overall project risk and safety.
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How It Came Together
Our team was immediately excited about this opportunity due to the project scope, the contractor’s tech-forward approach, and our growing relationship with the broker team. Upon receiving the submission, we quickly identified the client as a Procore user, making them eligible for Shepherd Savings.
When a client is eligible for Shepherd Savings, our team offers two proposal types: Basic and Savings. The Savings proposal highlights immediate benefits to contractors, showcasing exact premium savings and enhanced coverage options. Here’s just how simple it is for contractors to opt-in:
- The broker is notified of the client’s eligibility.
- Shepherd provides a Shepherd Savings proposal.
- The client opts-in to receive the benefits.
The benefits to the client include not only the premium savings but also enrolls them into our risk control program where they will receive ongoing feedback oriented around their technology usage. The client receives a monthly report from Shepherd that highlights their usage trends and areas of improvement.
Shepherd Savings is available to contractors who currently use or are considering adopting a qualified Shepherd technology partner. The program aims to acknowledge and further encourage these efforts, contributing to a safer and more sustainable construction future.
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