Following a seminar to explore the role of standards and accreditation in managing risk for the insurance industry, hosted by the International Organization for Standardization (ISO) and supported by IAF, work is now underway with industry associations to identify areas where insurers can recognise the value of standards and accreditation in supporting risk management, evaluating premiums and coverage, and using statistical analysis to project losses within a given class. Opportunities for developing standards for the insurance industry, with a focus on product development, product information and processes in wholesale insurance, will also be explored.

A brochure recently published by ISO, supported by IAF, provides an introduction to standards and accreditation as well as case studies and information on the benefits of existing and potential standards for the insurance industry.

A short video summary of the London seminar can be viewed on the ISO Facebook Live page, and the presentations can be viewed on the event website.