Case Study: Leading Claims Recovery Service Provider Achieves 50% Reduction in Compliance Time and Costs with NAVEX Lockpath

Claims Recovery Service Embraces Integrated Risk Management & New Risk Culture

Claims Recovery Service, a financial claims recovery firm, struggled with inadequate, manual compliance and audit processes built on spreadsheets, disparate files and emails. Policies were scattered across hundreds of folders and network drives, many out of date, making updates difficult, increasing the risk of noncompliance and costing the company more than $500,000 annually.

The firm implemented NAVEX Global’s Lockpath GRC platform to centralize 500+ policies, set permissions, automate review notifications and consolidate documentation, streamlining audit responses. As a result, process time and costs fell by about 50% — audit prep dropped from over three days to under half a day, one staffer now completes tasks that previously took multiple people more than a week, and the sales team leverages clean audits as a competitive advantage.