Case Study: Markel enhances third-party risk management with NormShield

Markel - Customer Case Study

Markel Corporation, a global holding company for insurance, reinsurance, and investment operations, wanted to enhance and simplify its third-party risk management process, which had become highly manual and difficult to manage at scale. Markel selected NormShield after evaluating cyber risk rating vendors, looking for a cloud-based solution that could help the Global Security Services team assess third-party risk more efficiently.

NormShield implemented its cyber risk rating platform, using open-source intelligence, non-intrusive scans, continuous monitoring, and later the FAIR model to translate cyber risk into business and financial terms. The solution helped Markel automate much of its analysis, improve reporting, manage hundreds or thousands of third parties more effectively, and provide richer risk data for business decisions, while unlimited licensing helped keep budgeting predictable year over year.

Markel

Patricia Titus

Chief Privacy and Information Security Officer