BSS was engaged by a major UK personal and business insurance company to conduct a review of its third-party vendor solution. The objective was to build an understanding of legacy and current vendors so that the assessment process could be handed over to business as usual (BAU).​

​The challenge:

The initial challenge was to clear a significant backlog of outstanding critical and high-risk third-party vendor questionnaire reviews, during a transfer of ownership of the business.​

​The solution:

We broke the backlog down into structured, manageable phases and worked through the outstanding questionnaires efficiently and at pace, using a core team of experienced resource plus industry specialists to call upon when volumes were particularly high. Once the review work was complete and had been through our own rigorous quality assurance process, ownership of each third-party review was handed over to BAU for future re-reviews.​

​The outcome:

With the backlog of critical and high-risk vendor questionnaire reviews fully cleared, the client was then able to operate a more robust and streamlined third-party vendor assessment function as a discrete BAU capability. BSS has continued to support with reviews as they come through, helping ensure the function does not become overwhelmed, and remains on hand to help smooth the flow should there be any future spikes in review volumes

BSS
Tel: 020 7936 8999   info@bss.uk.com