Helping a Major Insurance Company Prepare in Case of Trouble

Background & Challenges

A leading California-based insurance company generating more than $2B in annual revenue was faced with audit commitments (internally and externally), and regulatory scrutiny, augmenting the need for a formal disaster recovery program and operating procedures. The California-based insurer was unable to effectively assure customers, vendors, and executive leadership of the organization’s ability to maintain an acceptable level of operations, or effectively and efficiently recover from an impactful event.

Approach

BDO was engaged to provide holistic recovery program support to assess current capabilities based on audit concerns and leading standards (e.g., ISO-27031), identify improvement opportunities, and develop a formalized governance structure and operating model. The recommended operating model was then implemented to standardize programmatic activities to build the foundation for further growth and maturity, followed by robust planning and technical failover tests to validate application/system recovery capabilities.

Client Impact

Through a multi-year, multi-phased effort, BDO developed the foundational elements of a successful program to provide a structured framework for growth and development. We enhanced the organization’s understanding of both the business-critical services and the underlying technologies which support the services, contributed to the resolution of subsequent internal and external audits with zero findings, and validated technical recovery capabilities to improve assurance of resilience capabilities across executive leadership, board of directors, as well as critical third parties and partners.