Origami Risk is a leading provider of integrated SaaS solutions for the risk, safety, and insurance industry, from corporate and public entities to brokers and risk consultants, insurers, managing general agents, third party claims administrators, and risk pools. Highly configurable and completely scalable, Origami Risk delivers a full suite of risk management tools and insurance core system solutions from a secure, multi-tenant cloud-based platform accessible via web browser and mobile app. In October, the company announced it has created an online solution to help businesses and other entities streamline their global vendor risk management process. 

Using Origami's single platform for managing insured and uninsured risks, risk management professionals and other executives can access risk intelligence and industry best practice resources to obtain detailed vendor solvency and cyber security governance information and conduct extensive risk assessments. They can also use Origami to monitor compliance with multiple aspects of contractual requirements, such as stipulated insurance coverages, cybersecurity protocols, employment practices, workplace health and safety standards, business conduct, and conformity with international human rights conventions.

"Regardless of whether an enterprise works with one or two trading partners or is a multinational organization with a global supply chain involving hundreds of vendors, its leadership, risk management, and operations teams all need to understand and manage risks associated with their critical vendors and other third parties," says Earne Bentley, President of the Risk Solutions division of Origami Risk, which is  headquartered in Chicago with a San Francisco Bay Area office in Hacienda since 2019. "Maintaining oversight of vendor relationships is critical to operational resiliency and sustainability, but these efforts can be incredibly complex and time-consuming. Our solution uses automation and leverages our versatile platform to help clients streamline these processes, drive efficiencies, and flag a wide range of potential issues."  

Origami's solution also includes functionality to track and manage required certificates of insurance centrally, as well as within different divisions, departments, operations, and locations. In addition, functionality can be tailored to address the unique needs and considerations of different industries, such as pharmaceutical/life sciences, manufacturing, technology, hospitality and food service, construction, energy, and utilities/power, among other sectors. Specifically, Origami's vendor risk management solution helps customers predict, control, and manage costs related to vendor liability by facilitating systematic due diligence, insurance procurement, and renewals. It reduces administrative burdens with automated workflows and simplified data collection. It prevents potentially costly problems by identifying issues prior to contract signing. It automates risk assessments, monitors issues associated with high-risk vendors, and compares remediation alternatives. The vendor risk management solution also improves compliance and risk mitigation by identifying risk-transfer issues and opportunities.

For more information about Origami Risk, please visit www.origamirisk.com.