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Performance Management

The Vendor Performance Management Program helps Sentry Insurance validate the overall value received from key vendors. Our objective is to proactively manage vendor relationships and encourage vendors to meet and exceed established performance goals.

Sentry's Vendor Performance Management program includes:

  • Vendor assessment and segmentation
  • Performance measurement
  • Periodic business reviews
  • Policy formation and communication
  • Documentation and compliance monitoring
  • Contract renewals

Performance Measurement
Scorecards are developed to document and measure performance through specific indicators over a range of transaction types. The scorecards are designed to monitor and assess the performance of vendors using Key Performance Indicators.

Technological Innovations
Sentry Insurance operates in a competitive environment and continually looks for innovative ways to better serve our customers and operate more efficiently. We rely on our vendors to keep us informed of cost-effective ways to do business and help lower our costs. We also look to keep our transactional expenses low. One of the key components of the Performance Management Program is to evaluate the amount of technological innovation that vendors share with us and bring to the table for consideration.