A good example of how Bartlett approaches new business is evident in its relationship with webuyanycar.com, a Philadelphia start-up company launched earlier this year. The company, financed from overseas and based on a U.K. business model, allows used-car sellers to get an instant online valuation, then drive the car to the nearest branch for an onsite inspection before selling the car to the company.
Although webuyanycar.com was already being advised by one of the world's largest brokers, Bartlett was invited to put a program together due to a number of frustrations the company was experiencing—because it was a start-up company, funded by overseas capital, the company was finding it difficult to access a program willing to underwrite the risk without being prohibitively expensive. Bartlett was able to successfully place the risk while achieving cost savings by:
- Accessing and analyzing the company's U.K. loss history and presenting this to U.S. underwriters as a basis for expected losses.
- Advising the company in lease and contract reviews to minimize its overall risk exposure.
- Using Bartlett's experience working with foreign-based companies to establish credibility and a confidence level with overseas management.
- Demonstrating the account's growth potential to garner underwriter interest.
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