Webinar Puts Insurance Pros on the Path to Much-Needed Automation of Vendor Management

September 8, 2020

Sept. 8, 2020 – Experts at the governance, risk and compliance (GRC) technology firm ViClarity are planning a webinar to show insurance pros how necessary – and how easy – it is to automate vendor management. The online event is scheduled for Sept. 15, 2020, at 10 a.m. CST.

“Providers do a terrific job stitching together the third-party quilts that help them deliver on promises to clients with increasingly high expectations,” said Ogie Sheehy, ViClarity global CIO. “Everything works brilliantly until there’s a tear in that quilt. The operational, financial and reputational risks exposed by those tears are far too high to rely on manual protections. We want to show more insurance professionals just how easy it is to evolve their vendor management strategies by taking advantage of highly accessible and affordable technology.”

Indeed, vendor management is growing in complexity, creating a variety of GRC issues for providers who rely on manual processes. One recent survey of risk management professionals and C-suite executives found just 38 percent have controls in place to ensure ongoing monitoring of vendor relationships. This at a time when 53 percent of organizations have experienced at least one data breach caused by a third party, costing an average of $7.5 million to remediate.  

Sheehy along with ViClarity colleagues review key vendor management topics during this one-hour webinar. The presentation will cover automation workflows for vendor onboarding, due diligence and risk management. Topics they’ll touch on include:  

Common setbacks insurance providers experience within manual vendor management processes.
How to increase time and cost savings during onboarding and throughout different due diligence phases.
Ways technology can increase vendor management efficiencies.

The webinar is designed for insurance providers of all sizes. Online registration is now open.