Mumbai, May 2, 2018: ICICI Lombard General Insurance Company Ltd, the country’s largest private sector non-life insurer, has become the 1st company in India to be certified by the British Standard Institution (BSI) for compliance with the revised ISO 31000:2018 Enterprise Risk Management (ERM) Guidelines released in February 2018.
ICICI Lombard General Insurance, MD & CEO, Bhargav Dasgupta said, “We are honoured to be the 1st organization in India to receive the ISO 31000:2018 certification from the British Standard Institution (BSI). This is a testimony to our efforts of having adopted the best in class risk management practices to offer significant value to our customers on the risk management and mitigation front.”
ICICI Lombard has put in place a comprehensive ERM framework to identify, analyze, evaluate, mitigate, report, monitor and review organizational risks on a periodic basis. The framework helps to strengthen the organizational risk management culture, increase operational efficiency and achieve the company’s overall objectives.
ICICI Lombard has been awarded Certificate of Compliance for a period of 3 years from April 16, 2018, to April 15, 2021, on successful completion of the ISO 31000:2018 compliance process for its ERM systems.