Reliance General Insurance, a 100% subsidiary of Reliance Capital announced the success of achieving the ISO 31000 Assurance by Global Certification body DNVGI. The assurance exhibits an international standard that provides principles and guidelines for Enterprise Risk Management.
Such a robust risk management framework assures the various stakeholders of an organization of the superior quality of governance and increased operational efficiency. This is achieved by identifying and mitigating losses as well as enhancing risk assessment capacities naturally. It helps in enhancing the confidence of the stakeholders in the performance and sustainability of the organization.
On getting past yet another milestone in the brand’s journey, Rakesh Jain, ED & CEO, Reliance General Insurance said, “We are proud to have achieved the ISO 31000 assurance in these difficult times. The standard helps integrate the risk-based decision-making in the organisational culture thereby adding tremendous value to the brand’s maturity and value proposition. Additionally, it also promises a sense of security to all our customers, whether retail, corporate or Government entities. This achievement reflects the DNA of the company and has been possible only with the involvement of every member of this family. We aspire to excel in all spheres of business always. Milestones are just the by-products of our efforts and beliefs.”
In the VUCA world that we today live in, ISO 31000 helps organisations develop a risk mitigation and management framework ensuring better protection of assets, thereby increasing the potential of ROI manifold. Implementing the standard will allow Reliance General Insurance to see the opportunities that may arise out of various risky circumstances, thereby allowing for more informed and decisive decision making.