How a Leading Insurance Company Boosts Security with ESRM Software

Before adopting Resolver, the insurance company faced considerable challenges in its security risk management operations. Notably, the inefficiencies in their security risk assessment and incident management and investigations processes were becoming increasingly problematic:

• Clunky, Outdated Systems: The team relied on an outdated Access database that frequently malfunctioned, necessitating data downloads to Excel for analysis, resulting in significant time spent. “It was very inefficient,” recalls a senior analyst from the security team. “Each issue necessitated downloading data to Excel for analysis, resulting in significant time spent.”
• Lengthy Processes: Security risk assessments were a daunting 18 pages long, filled with verbose details that few read.
• Manual Workload: A substantial amount of manual effort was required to analyze and report on security risks, diverting time and resources from more strategic initiatives.

These challenges highlighted the need for an ESRM software solution that could unify their data and expedite or automate routine tasks.

Determined to find a better solution, the company embarked on a mission to revolutionize its security protocols and data toolset. The decision to implement Resolver marked a turning point for the company’s ability to gain security insights from their data. The modernization of their corporate security solutions was facilitated by Resolver’s onboarding support during implementation.

Resolver addressed the company’s challenges through several key approaches:

• Customizable Modules: The security team played a crucial role in customizing Resolver’s modules to meet specific needs. “I have customized a lot of the modules that we use,” explains the senior analyst. The goal was to make the system intuitive and user-friendly, akin to the simplicity of Amazon’s interface. This customization allowed the company to streamline processes and improve data analysis capabilities.
• Process Automation: By automating many manual tasks, Resolver helped the company save significant time and resources. Tasks that once required extensive manual effort could now be completed quickly and efficiently. “We have so much free time now. The time it used to take for us to do this before was ridiculous,” she adds.
• Comprehensive Support: Throughout the process, Resolver’s support team provided invaluable assistance, offering feedback and suggestions that led to continuous improvements. “The support team was wonderful,” says the senior analyst. “They helped me out a lot.”
• Ease of Use: The intuitive design required minimal training, making it accessible for all staff levels. “I give them literally a 20-minute training because I know when you say ‘30-minute training’ maybe they don’t have the time,” she explains. “It’s all done in 15 minutes because that’s how simplified I’ve made our application.”

The security team’s confidence in Resolver grew significantly around the six-month mark of implementation. The system’s continuous improvements and the team’s positive feedback confirmed Resolver as a game-changer. “I was happy at what I was looking at and the ongoing support that I get,” reflects the senior analyst.

The implementation of Resolver’s Enterprise Security Risk Management Software had a transformative impact:

• Efficiency Gains: The lengthy 18-page security risk assessments were replaced by concise six-page reports, saving time and improving readability. “Very concise — leadership loves it,” notes the senior analyst.
• Streamlined Security Risk Assessments: The number of site risk assessments increased significantly from 75 during the COVID-19 pandemic to 150 annually in subsequent years. “We completed over 375 site risk assessments by the end of 2023,” she adds.
• Increased Productivity: The team’s productivity soared as manual processes were automated. The time savings equated to freeing up one full-time employee per year. “It’s probably freed up a person for the year,” the analyst highlights.
• Improved Security Incident Reporting: The number of incident reports skyrocketed from 600 to over 3,000 thanks to the ease of data entry and analysis.

These remarkable results demonstrate the significant impact Resolver has had on the company’s security risk management processes. The significant time savings, increased productivity, and enhanced reporting capabilities highlight Resolver’s potential to transform security risk management processes. “The amount of time it has freed up for us — I’ll say it’s probably freed up a person for the year,” the analyst shares. “Showing leadership how much time is saved by using these kinds of programs makes a world of difference.”

Discover how Resolver can transform your enterprise security risk management. Book a demo today to see firsthand the efficiency, productivity, and strategic advantages that Resolver’s ESRM Software solutions offer. Join over 1,000 leading global organizations in achieving superior security risk intelligence.