Case Study: Small Business Insurance Company achieves faster vendor onboarding and reduced risk exposure with Prevalent

Small Business Insurance Company - Customer Case Study

Small Business Insurance Company, a small firm in the insurance industry, faced slow, manual vendor risk assessments and onboarding—relying on disconnected data sources and spreadsheets that left them without baseline visibility into new vendors. To address these challenges they implemented Prevalent’s vendor risk management / vendor risk assessment solution to streamline intake, assessment, and continuous monitoring of third‑party cybersecurity and data privacy risk.

Using Prevalent, the company reduced time for vendor sourcing and selection from over a day to about 2–4 hours and cut vendor intake/onboarding from 2–4 hours to less than 1 hour. Prevalent delivered clearer inherent risk visibility, programmatic offboarding, continuous monitoring for cybersecurity, reputational and financial risks, and major cost savings—enabling the team to assess and remediate vendor risks more effectively.