CASE STUDY

MEDIA | ENTERTAINMENT

Nimble Global was asked by a Managed Service Provider (MSP) to complete an insurance audit of suppliers providing contingent workers and statement of work (SOW) services. Expecting a level of noncompliance, WE DID NOT anticipate 100% noncompliance.

This case study addresses the critical need for rigorous insurance compliance audits within the supply chain, particularly in the Contingent Workforce Management (CWM) sector, where the absence of proper insurance is not just a contractual breach but indicative of a widespread systemic issue. The investigation's findings underscore the severe financial and operational risks such negligence poses. We initiated a comprehensive reform of our Managed Service Provider (MSP) clients' processes to validate and enforce insurance standards in response to these lapses. By instituting stringent compliance protocols and reinforcing international legal adherence, we bolstered the MSP's reliability and set a new precedent for insurance verification in the industry.

PAIN POINTS

• Complete noncompliance with insurance mandates.

• Inadequate verification processes for supplier insurance.

• High risk of financial and operational fallout.

• Lack of standardization in insurance compliance.

OUR SOLUTIONS

• Conduct forensic audits.

• Implement rigorous compliance protocols.

• Enforce stricter contractual adherence.

• Establish a universal insurance verification standard process.

OUR RESULTS

• Uncovered and addressed 100% noncompliance.

• Enhanced supplier insurance validation.

• Mitigated financial and operational risks.

• Set new industry benchmarks for compliance.

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