Empowering Supplier Collaboration: Beazley's New Partnership with Trust Your Supplier
Welcome to the Beazley-TYS information page. The Procurement team is delighted to launch Beazley’s new streamlined third-party risk and supplier management process with the blockchain-based platform Trust Your Supplier (TYS). TYS is an innovative network and forms another pillar in our effort to strengthen our third-party risk management capabilities and achieve our vision of becoming the highest-performing sustainable specialist insurer.
Why Improving Third-Party Risk and Supplier Management Processes Matters:
As an insurer, our reliance on supply chains is twofold: they enable us to deliver policy, support, and claims services to our policyholders, while also ensuring the smooth operation of our own business. Recognizing the critical role of third-party risk and supplier management, we prioritize initiatives aimed at enhancing risk management, compliance with global regulations, and advancing our sustainability goals.
At Beazley, we strive to cultivate a culture of transparency, trust, and collaboration with our suppliers. Our commitment to sustainability and social responsibility drives us to seek partnerships that enhance these values. Through our collaboration with TYS, we're revolutionizing our third-party risk and supplier management processes to prioritize transparency and simplify communication. This partnership enables us to gain deeper insights into our supply chain, fostering trust and alignment with our sustainability objectives.
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ABOUT TYS
Trust Your Supplier is a groundbreaking blockchain-based platform specializing in supplier, compliance, and risk management. TYS ensures a meticulous and unalterable record of supplier information based on a supplier digital wallet. This commitment translates into superior data accuracy, empowering us to make well-informed decisions and comprehensively understand potential risks within our supply chain.Â
BENEFITS TO SUPPLIERS
- Recognize revenue faster by reducing the time to your first transaction
- Eliminate redundant work and reduce cost
- Provide your information one time and share it in real time with all your customers on the network
- Be discoverable across the TYS network, opening doors to new business opportunities with customers who want you as a trusted partner
- Reduce barriers to entry in new markets, geographies, and industries. Customers know suppliers on TYS are verified, trusted sources