An analysis of the most pressing concerns based on insights from 1,000 UK business leaders.
23 May 2024
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The business directly employs c.2,000 employees and typically builds between 110 and 150 boats per year (depending on model mix and size), which it predominantly sells through a global network of authorised boat dealers and distributors. Sunseeker’s current product line up ranges from 38ft to 131ft in length and generates annual turnover of approximately £250m - £300m.
Values
For Sunseeker, the most import asset is its people: their skills, talent, hard work and dedication create the industry leading design, innovation and quality, which feed into the products Sunseeker manufactures and the customer service experience it provides.
Sunseeker operates on a set of “DARING” values:
- Drive
- Achieve
- Respect
- Innovate
- No Compromise
- Genuine
Risk management
Risk management runs hand in hand with business resilience. The objective of risk management should not be limited to identifying and mitigating risks. It should also add value by helping to identify and capitalise on opportunities.
Global events in the past three years have thrown up unprecedented, large-scale risks and challenges with supply chain pressures, skills shortages, inflation and increasing energy costs in particular, causing difficulties for UK manufacturing businesses. Against that background, Sunseeker recognises that the importance of having a proactive, dynamic and agile approach to risk management is not to be underestimated. Sunseeker appointed Gallagher in early 2022 with the aim of building on and improving its risk management framework.
The Gallagher partnership
Sunseeker appointed Gallagher not as an insurance broker in the traditional sense, but as a strategic insurance and risk management partner. A comprehensive understanding of all aspects of its business, from design, through to manufacturing, health, safety and environmental considerations as well as products, sales, distribution and the wider marine industry in which it operates, was essential to the appointment and critical to the advice and services Gallagher provides.
With offices on Poole Quay overlooking Sunseeker’s shipyards and a heritage in marine insurance, through its 2019 acquisition of Coleman, Gallagher is able to provide industry expertise and a relationship-driven local broker service, backed up by the global presence and wider insurance and risk management resources of the Gallagher powerhouse.
With its focus on customer service and a unique understanding of Sunseeker’s business, the Gallagher team, led by Steve Risk, has been pivotal to a successful service transition from Sunseeker’s former broker and a well managed 2022/23 insurance programme renewal.
As well as helping to maintain a comprehensive, cost effective, tailored insurance programme over the coming years, Sunseeker says it hopes that with its expertise and resource Gallagher can add value and aid growth by delivering improvements in risk management and helping to identify and manage the risks and opportunities that lie ahead for the luxury yacht manufacturer.
