Certain insurance costs in schools are considered essential (core policies) whereas others are somewhat optional depending on the size and profile of the school . Whatever the spend, insurance is a material cost line and a multi-year commitment per policy. 

Many schools struggle with the range and options for insurance. Often it is not clear what is core and what is optional and schools end up dealing with multiple insurance companies, which is never a good thing. There are often significant differences in what schools pay for very similar risks.

Sometimes there is logic for the differences, for example ,a small school with a modern one-storey building, in a rural location, will be a much lower insurance risk than a building of historical importance in a large town.

However, more often than not there is no logic as to why the insurance cost per m2 of some buildings vary so significantly. Surprisingly some schools don’t consider cyber-security insurance as a core policy! 

To give more clarity on whether a school is receiving value-for-money from its insurance provider(s), Tepo reviews KPIs on the core policies including:

Building insurance cost per m², Business continuity cost as a percentage of Total Revenue, employers liability cost as a % of Gross payroll and per staff, total core policies as a percentage of total policies.

This gives a good indicator on Value for money.  

Because insurance is complicated and is time-consuming, and really only the
fin/ops specialist him/herself can take this on, very often there is no time available at the critical moment when a policy comes up for renewal, so the renewal with the current provider just goes through
without any competitive tender. 

So how can
Tepo Consulting help?

Tepo believes that protecting your business, protecting your staff and protecting your pupils are the 3 key pillars for schools insurance. Ensuring you have defined what is core (Essential) versus optional is a good start but even this is a time consuming process. Time that most schools can’t afford. 

Wouldn’t it be simpler if you could have a trusted advisor on such matters who understands private schools of different sizes and can give independent advice?

This is why Tepo has teamed up with Loyco   (an independent advisor) who can quickly analyse your current state, assess your needs, identify exposures and agree a timeline to transition to a more efficient, comprehensive and cost effective insurance portfolio.

This portfolio will result in 3 outcomes:
1) more for less 2) more for the same or 3) Less for less (if you are over insured). 

Please get in touch with Tepo  if you wish to explore this, or contact Loyco directly at