While risk-based thinking is a new term in the 2015 version of ISO 9001, the concept of risk management is not new to the insurance industry. Many companies already have some sort of risk management process in place and much progress has been made to formalize these processes and even use them for regulatory purposes. Another step forward is the introduction of the ISO 9001:2015 standard, which includes a focus on risk-based thinking that could benefit the industry. ISO 9001:2015, which defines risk-based thinking even more than its predecessor ISO…
Read MoreHow ISO 9001:2015 Can Impact Risk-Based Thinking In Insurance
