Case Study: Howden Group Holdings streamlines regulatory due diligence with Panorays

Howden Group Holdings streamlines third-party due diligence in 18 months with Panorays

Howden Group Holdings, an international insurance group, faced an inefficient and manual process for managing third-party security risk to meet strict regulatory requirements from bodies like the FCA. Their spreadsheet-based system for assessing approximately 100 high-risk suppliers was unsustainable. To address this challenge, they turned to the vendor Panorays for its automated security questionnaire and third-party risk management service.

The solution implemented by Panorays provided an automated, easy-to-customize security questionnaire process. This allowed Howden to both send assessments to their vendors and respond to incoming questionnaires. Panorays also added value by performing non-intrusive external footprint assessments to verify suppliers' security claims. The results were a significantly expedited regulatory due diligence process and a more comprehensive, in-depth view of third-party security risk, giving Howden confidence in their vendors' cyber posture.

Howden Group Holdings