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

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


 

Challenge

  • The customer had a spreadsheet based assessments approach.
  • Email based workflow added significant overhead
  • Complex workflow across multiple teams was difficult to manage
  • 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.