The Life Insurance Corporation of India (LIC) has achieved a significant milestone by receiving the ISO 22301:2019 Business Continuity Management System (BCMS) certification from the British Standards Institution (BSI). This certification recognizes LIC’s operational resilience, business continuity planning, and risk management capabilities, which are now aligned with global best practices. The ISO 22301:2019 standard is an international benchmark for business continuity management, focusing on minimizing operational disruptions and ensuring swift recovery in times of crisis.
The certification is a testament to LIC’s commitment to ensuring business continuity and safeguarding the interests of its stakeholders, including policyholders. The insurer’s ability to maintain robust business continuity practices, ensure uninterrupted services, and effectively manage risk has been recognized through this certification. This achievement enhances LIC’s reputation as a resilient organization that is well-prepared to face unexpected challenges and serve customers seamlessly.
Speaking on this occasion, Shri. Siddhartha Mohanty, CEO & Managing Director, LIC, emphasized the importance of trust and confidence that customers and stakeholders have in the institution. He stated that receiving the ISO 22301:2019 certification is a testament to LIC’s commitment to ensuring business continuity and safeguarding the interests of its stakeholders.
Shri Tablesh Pandey, Managing Director, LIC, added that security and resilience have always been central to LIC’s operational philosophy. He highlighted that achieving ISO 22301 certification underscores the organization’s dedication to safeguarding the interests of millions of policyholders by ensuring secure, uninterrupted services, and consistently enhancing preparedness against disruptions.
The certification process involved exemplary leadership, continuous support, and executive oversight from LIC’s Enterprise Risk Management, Cyber Security Department, and senior leadership teams. Going forward, LIC will engage in regular exercises and periodic reviews under BSI’s surveillance program to reinforce continuous improvement in its business continuity management practices. This certification is a significant achievement for LIC, demonstrating its commitment to operational resilience and customer-centricity.