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