OneView

Third Parties

Everything you need to know about each of your third party relationships, all in one place. Helping insurance companies manage risk to their business.

To meet the needs of today’s customers, insurance business models are becoming increasingly complex.

From underwriting to claims handling, capabilities that were traditionally kept in-house are now being delegated to a whole network of intermediaries and third parties. Great for powering business performance but a challenge when it comes to retaining oversight of these rapidly expanding networks.

How can you be sure that your third parties are conducting the appropriate checks on your end customers to meet regulatory requirements? How do you know if the distributors you’ve selected are performing as expected to deliver the commercial results you need? Are you confident that the companies you’ve chosen to work with match the risk appetite of your business? Staying on top of all of this information manually with spreadsheets is almost impossible, and with regulatory scrutiny intensifying, insurers need to find a better way to make commercially sound, risk-based decisions about the third parties they work with.

OneView has been built to transform the way insurance companies manage and report on their third party relationships. It provides you with a single view of everything you need to know about each third party, at every stage of your relationship with them - all in one place. And with better visibility over your third party relationships, you can have greater control of the risks and opportunities at hand, with automated reporting making it easy to keep your stakeholders informed.

"OneView has been strategically important for our business, providing us with a platform to sustainably scale the business across multiple geographies. We've also been impressed with the speed and ease of configuring OneView, as well as its adaptability to our business needs."

Enrico Bertagna Head of MGA Network, Commercial Insurance, Zurich Insurance

Benefits

Deliver industry best practice

By combining technology with our regulatory and market expertise, we’re able to offer a solution that delivers industry best practice to ensure your process for overseeing third parties meets regulatory requirements.

Align to your risk appetite

You can calibrate OneView to embed your business’ risk appetite. This allows you to monitor your portfolio in line with your strategy and indicates any associated risk.

Drive efficient collaboration internally and externally

OneView allows collaboration between your teams as well as your third parties. By removing the administrative burden of collating and reviewing information your employees can be freed up to focus on more valuable work.

Configure to fit your business model

From underwriting to claims management, OneView can be configured to suit the business processes you have in place for the wide variety of third parties you work with.

Promote stakeholder confidence

The real-time view of accurate management information across your third party relationship allows you to quickly deliver greater insight to your stakeholders and empowers you to make better informed decisions.

Accountability and governance

Through clear user and date stamped activity, including approvals, you are able to promote accountability and governance, as well as collaborating with your business stakeholders and distributors more effectively.

OneView gives you total visibility. Access any information you need about your third party relationships, with all of your data in one place.

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Trusted by leading insurance companies to manage and report on their third party relationships.

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Features

Our off-the-shelf product requires minimal set up time, so you can quickly benefit from the rich insight it offers.

Risk based dynamic framework

Workflow management

Dynamic management information

Open API

Cloud based

Single sign on

How it works

Onboard your new relationships, through a simple data capture process that automatically places the opportunity within the right area of your business and instantly allocates accountable individuals and teams for review.

By answering a series of multiple choice and free text questions, you are able to generate a risk assessment. This automatically calculates a score which drives the scope and frequency of due diligence work to be performed on the third party. This allows you to focus on the highest risk areas of your portfolio.

The risk-based dynamic framework ensures you perform sufficient and appropriate due diligence over your third parties. The portal functionality and workflow promotes collaboration both within your business and with the third party to obtain and review the required information in the most efficient way. This includes undertaking product governance in respect of new and changing products.

OneView helps you to efficiently monitor your business’ risk exposure and third party relationships on an on-going basis throughout the life-cycle of your arrangements. This includes scheduling, scoping and executing audits over these third parties. When changes in risk exposure occur this will be reflected in the scope of due diligence work required, so that you can ensure relevant updates are undertaken.

OneView provides you with real-time management information to give your business insights into the performance and risks across your portfolio. And with dynamic reporting you can provide your stakeholders with the information they require, when they require it.

Transform the way you manage and report on the third party relationships supporting your insurance business.

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