15% monthly cost saving within 90 days.
CHU Insurance saved and thrived from ARQ's unique FinOps approach.
CHU is one of Australia’s largest and most awarded insurance underwriting agencies. CHU were recognised as back to back winners of the Underwriting Agency of the Year Award 2017 – 2018 and 2021, Insurance Business Australia Underwriting Agency of the Year 2021, Insurance Business Australia Brokers’ Pick award winner 2016 – 2021 as well as Excellence in Workplace Diversity and Inclusion in 2019. CHU started trading in Sydney in 1978 and created the very first strata plan insurance policy in Australia. They have now grown to become one of Australia’s largest strata insurance specialist, arranging insurance for more than 100,000 strata buildings.
CHU Insurance have been working closely with AWS as their preferred cloud vendor for years with a particular focus on continual modernisation of architecture and applications, delivering an industry leading product to market. The responsibility of managing costs and monitoring resource utilisation was shared across several team members and without a dedicated FinOps function or framework, costs continued to increase and project sprawl occurred.
ARQ’s Cost Management as a Service solution provided CHU with a detailed cost assessment within days, the output of which identified immediate savings and provided Governance quickly through the implementation of an industry leading platform that enabled automated cost and usage monitoring.
The scope of the solution included:
- A detailed AWS cost assessment including a current state analysis and wastage review
- Savings Plan and Reserved Instance analysis and recommendations
- Ongoing cost optimisation recommendations
- Proactive anomaly detection
- Automated governance including cost and usage monitoring
CHU realised a 15% monthly cost saving within 90 days of our engagement and eliminated all wastage, improving their governance posture and improving visibility into cloud consumption. CHU now have the confidence to continue to innovate and modernise with ongoing oversight from the ARQ team.
If you’d like to learn more about how ARQ can help optimise your cloud environment and improve your governance posture, contact us today at FinOps@Arq.group