Global Insurance Company Enhances Risk Prioritization with Real-Time Intelligence

Global Insurance Company Enhances Risk Prioritization with Real-Time Intelligence

Overview

An insurance company faced mounting challenges in efficiently assessing vendor risk within its TPRM program. With limited resources and an overwhelming volume of alerts from multiple sources, the team struggled to focus on vendors that posed the greatest threat. To improve risk triage and streamline assessments, the company turned to Supply Wisdom for real-time, location-specific intelligence.

Challenges

• Risk assessment processes were time consuming and resource intensive

• Difficulty focusing on vendors with the highest risk exposure

• Alert fatigue due to multiple sources flooding the team with notifications and a lot of “noise”

• Inability to identify risks early leading to time consuming and costly mitigation

• Lack of understanding of geographic concentration of key suppliers making it difficult to properly mitigate geopolitical and weather-based disruptions

  
  

Solution

The company leveraged Supply Wisdom’s real-time risk intelligence to bring clarity and focus to its TPRM operations. By integrating actionable alerts and location insights, the team was able to confidently triage vendors and streamline response efforts. The addition of upfront risk data—sourced from Supply Wisdom and Black Kite—enabled smarter vendor prioritization from the outset.

Results

• Risk data delivered in real time, driving measurable efficiencies

• Greater focus on highest-risk vendors during triage

• Alerts are now consumable, actionable, and trackable over time

• Enhanced confidence in data enabled streamlined processes and cross-team growth