Today’s dynamic and interconnected insurance business landscape has led to complex supply chains spanning across continents, increasing the number of potential points of failure as global threat vectors such as cyber risks become more and more sophisticated.
Whether you are a carrier, broker, or any other party in the insurance value chain, supply chain resilience is a critical element of overall operational resilience.
Covid-19 is already highlighting the widespread uncertainties caused by supply chains and the reactive approach firms usually take towards them.
This content highlights what the insurance industry can learn from this current situation and why insurance firms need to exercise more control over third parties to enhance overall resilience.
• Why many insurance firms lack control over their supply chains.
• Key regulatory requirements for insurance firms.
• Third party risk management solutions.
• Achieving effective third-party governance.