India Affiliate of Institute of Risk Management (IRM India), a professional body for Enterprise Risk Management (ERM) qualifications, and private sector general insurer ICICI Lombard have signed a Memorandum of Understanding (MoU) for knowledge partnership.

The two companies will work towards building a stronger, more risk-resilient corporate India, enabling them to embrace enterprise risk management more deeply in their business growth model.

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ICICI Lombard is the first company to partner with IRM India for such an initiative. IRM India seeks to work with ICICI Lombard from the insurance sector.

Gopal Balachandran, Chief Financial Officer and Chief Risk Officer, ICICI Lombard, said: “…Enterprise Risk Management forms an integral part of our decision-making process. We endeavour to be the preferred risk management partner to our customers, empowering them with technology enabled insurance solutions to effectively manage diverse risks they are exposed to in today’s challenging times.”

“We believe that IRM India is an ideal partner, given their global presence and leadership in ERM. This partnership will further strengthen ICICI Lombard’s endeavour to engage with the risk management community across business sectors, understand their challenges, and work together in developing effective enterprise risk management solutions.”

ICICI Lombard and IRM India will collaborate to build awareness on the need for enterprise risk management and its importance, through initiatives such as whitepapers, conferences, seminars, panel discussions and webinars.