Allianz Insurance works with a large number of third party suppliers and was finding the process of auditing them challenging. On-site visits were resource and cost heavy, while multiple auditors using manual reports could lead to a lack of consistency.
"The portal is so user friendly, it reduced the amount of time our audits were taking, automated huge parts of the process and meant that we were guaranteed consistency in responses."
Jon Allen, Information Security Manager at Allianz, explained “Lack of resource was an issue for us
so an already time-consuming process was made even more difficult by using outsourced auditors, whom each had different views and would interpret risks in individual ways. We needed a way to cut down the amount of time our assessments were taking whilst improving the consistency so we could accurately identify the areas to focus on and apply our resource to.”
Allianz chose 3GRC to assist them in this process after finding the 3GRC Platform easy to use and experiencing the value in using the Managed Service and how it helped their workload. Allianz chose to create their own assessments within the Platform to meet internal needs.
3GRC Consultants provided on-site support to Allianz, carrying out visits to suppliers, producing reports while in-site and updating live to deliver both time and cost savings.
Jon explains the benefits he experienced from using the 3GRC Managed Service, “The 3GRC Operations Team took away a huge amount of work for us. They took care of all our supplier onboarding which was vital for us when we were struggling with resource. On top of that, the portal is so user friendly, it reduced the amount of time our audits were taking, automated huge parts of the process and meant that we were guaranteed consistency in responses.”
Using the 3GRC Platform has reduced the amount of time taken per assessment by 50% while delivering consistent benchmarking and giving greater visibility of supplier risks. It led to such improvements in the risk management process that it has now also been rolled out for use with RFI and RFP’s.
To ensure the portal is delivering everything Allianz needs it to, 3GRC have taken on board a number of their feature requests so it is continually evolving and improving, not just for Allianz but for all users. Jon said, “3GRC demonstrated their flexibility and agility by implementing a number of our requests for the portal. These updates have meant that we get exactly what we need to meet Allianz global requirements. It has really enhanced the service for us and allows us to get the most out of the tool.”
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