- Industry / Business Sector: Manufacture and trade of furniture and furnishing materials for residential spaces, hotels, and outdoor areas. Collaboration with major hotels in Santorini, Mykonos, and other destinations.
- Business partners:Two partners (50%–50%)
- Annual turnover:€8 million
- Number of employees:46
From Underinsurance to Structured Risk Protection
The engagement focused on understanding the company’s real risk exposure, identifying critical gaps, and redesigning its protection framework — beyond a simple insurance review.
The Challenge
Despite significant turnover and operational complexity, the business was operating with:
- Major underinsurance in liability and property risks.
- Misaligned insured values versus real asset exposure.
- Regulatory non-compliance.
- No structured business continuity planning.
This created a high risk of uninsured losses, claim disputes, and operational disruption
Risk Diagnosis & Protection Redesign
- Non-compliance with Law 5116/2024, exposing the business to regulatory and financial risk.
- Severe underinsurance in General & Employers’ Liability (€100,000 insured vs. €3,000,000 required).
- Under-declared contents values (€1.8M insured vs. €3.0M actual value).
- No insurance coverage for warehouse stock and raw materials.
- Inaccurate risk descriptions and policy wording, increasing the probability of claim disputes or rejections.
- Absence of structured Business Continuity and emergency response planning, despite high fire and production interruption exposure.
Beyond insurance, TECHNE™ highlighted material operational vulnerabilities, including:
- Outdated warehouse inventory records, exposing the company to penalties and valuation disputes.
- Disorganised storage of sensitive products in open-yard areas.
- Insufficient safety measures in outdoor constructions.
- Heavy reliance on manual, non-digital processes across procurement, warehousing, and production.
- Lack of clearly defined roles and decision-making authority, creating operational bottlenecks.
- High dependency on key individuals without succession or contingency planning.
These findings fed directly into the risk prioritisation and treatment roadmap.
Based on the findings, TECHNE™ designed a new, aligned risk coverage framework, addressing 10 out of the 15 identified critical risks in the first phase, including:
- Property risks (building & contents)
- Business interruption and loss of profits
- Employers’ and third-party liability
- Machinery and equipment risks
- Product liability and recall
- Cyber risk
- Business continuity exposure
- Accidental damage and water damage risks
The redesign focused on realistic values, correct policy wording, and alignment with actual operations, rather than generic insurance packages.
Outcome & Value Delivered
Using its proprietary risk architecture methodology, TECHNE™:
- Identified and prioritised 15 critical business risks.
- Assessed insurance coverage against real operational exposure.
- Detected structural gaps in policies, limits, and wording.
- Designed a clear, phased risk protection roadmap.
- Aligned coverage with actual business operations and legal obligations.
The Company Gained
Clear visibility of its true risk exposure, for the first time
Corrected insured values and liability limits
Reduced exposure to uninsured losses
A structured foundation for resilience and business continuity
Why It Matters
TECHNE™ doesn’t simply review policies.
We diagnose risk, architect protection, and align insurance with reality.
This case highlights how businesses can move from fragmented coverage to strategic, future-proof risk management.
