Case Study: Global Insurance Company achieves 100% tier-1 supplier coverage and scalable third-party risk management with Prevalent

Global enterprise achieves risk visibility over tier-1 suppliers and strengthens executive confidence in supply chain risk posture

Global Insurance Company, one of the world’s largest insurers, was hampered by an inconsistent, manual, spreadsheet-based approach to third‑party risk assessments across 500+ suppliers; a three-person team could not scale or adapt an ISO-based questionnaire, limiting visibility and increasing security risk. The company engaged Prevalent and deployed the Prevalent Third-Party Risk Management (TPRM) Platform along with Prevalent Vendor Risk Assessment Services to standardize and centralize supplier assessments.

Prevalent used the platform’s profiling and tiering to identify 50 critical suppliers, collected assessment data for those suppliers in under four months, performed remote validation reviews, and provided ongoing ROC-managed support to mature KPIs and processes. As a result, Prevalent enabled the firm to assess 800 suppliers with a five-person team, improve overall supplier coverage by 85% (including 100% of tier‑1 suppliers, 80% of tier‑2 and 70% of tier‑3), reduce external consultancy spend, and increase executive confidence in supply chain risk posture.