Nations second largest commercial property casualty insurance company relies on ComplyScore Third Party Risk Assessment solution

Challenge

• The customer had a spreadsheet-based assessment approach.
• Email-based workflow added significant overhead
• Complex workflow across multiple teams was difficult to manage
• A large number of assessments and limited staff

Solution

• Completely online user-friendly and simple platform.
• The risk assessment platform configured to Clients unique business needs and requirements.
• Built-in library of assessments, with auto risk rating.
• End-to-end risk assessment as a managed service.

Results

• Significantly reduced the effort in managing the process.
• Tier based targeted questionnaire eliminated inapplicable questions.
• Increased savings, time, and efforts with Managed Services.
• Increased Client teams resource availability
• Facilitated 3 lines of defense reducing pressure on IT-Security.