Home News BSI partners with NMU for increased supply chain risk management across insurance industry

BSI partners with NMU for increased supply chain risk management across insurance industry

by Brian Sims

BSI Supply Chain Services and Solutions has announced a partnership with NMU, one of the UK’s leading niche insurers. The collaboration will enable NMU’s brokers to further support their clients to reduce their insurance claims by better understanding their supply chain risks. By leveraging this consultative partnership, they’ll be able to address clients’ areas of vulnerability.

Through the BSI/NMU partnership, the broker community will benefit from hearing about new supply chain trends and insights delivered via joint newsletter publications which will help to build awareness around risks in the supply chain. They will also have access to a Supply Chain Risk Review in order yo understand the current state of an organisation’s supply chain risk programme. The end goal is to help create more robust supply chain risk management policies/processes, governance models, risk methodologies and mitigation measures for those companies insured by NMU.

According to BSI’s intelligence, disruptions to supply chains accounted for over £55 million worth of goods stolen last year in the UK alone. Understanding the risks, where they exist and how likely they are to occur is therefore vital for organisations to help reduce the delays, financial losses, costs and dangers that can result from such supply chain disruption. BSI and NMU will work in partnership to improve the management of supply chain risk and help counter the increasing threat of disruption to cargo for businesses.

Through BSI’s vast experience in supply chain risk management and NMU’s understanding of the marine cargo and freight liability insurance industry, this partnership will provide NMU’s insured clients with the necessary knowledge and skills to take a proactive approach towards becoming more resilient in their supply chain operations as well as helping to reduce losses and claims.

Ian Allman, risk control manager at NMU, explained: “We’re delighted to partner with the BSI’s Supply Chain Services, which will enable us to provide our clients and brokers with an enhanced risk management service. The continued increase in cargo crime within the supply chain is well documented, with reported figures suggesting that circa £55 million of goods are stolen each year in the UK alone. Whether the proceeds are being used to fund organised crime or terrorism, it’s a major concern for all. Therefore, having access to this insight for our brokers and clients is invaluable.”

Courtney Foster, supply chain solutions manager at the BSI, added: “Supply chain security mitigation isn’t always about implementing physical measures. Instead, this partnership is focused on the development of long-term resilience for NMU’s insured clients by creating robust policies, procedures and risk assessment methodologies for the client’s strategic supply chain risk management programme. Having worked alongside NMU’s insured clients, we’ve been able to demonstrate how the development of the right processes and procedures for supply chain risk management helps in preparing the client to proactively mitigate both current and future threats to cargo in the UK and abroad.”

*BSI and NMU will be co-hosting a webinar on Tuesday 2 October to announce and explain this partnership to brokers. For more information visit https://attendee.gotowebinar.com/register/7236539525690735363

International standard for IT service management revised

BSI, the business standards company, has published BS ISO/IEC 20000-1:2018 Information Technology – Service Management – Part 1: Service Management System Requirements.

For the first time since 2011, BS ISO/IEC 20000-1 has been revised to help organisations better respond to increasing service demands and a changing service delivery environment. The revised British Standard takes a more strategic focus to deliver an optimised performance for a company and its customers.

The British Standard specifies requirements for an organisation to establish, implement, maintain and continually improve a service management system. The requirements specified in this document include planning, design, transition, delivery and improvement of services to meet the service requirements and deliver value.

The main changes in this revised version over the 2011 version which BS ISO/IEC 20000-1:2018 supersedes include the following:

*Key service management trends are addressed

*There’s an increased focus on planning to drive improved performance

*An increased focus on leadership and strategy to ensure an optimised performance is delivered for the user and customers

*The British Standard is now aligned to a high level structure that applies to all new management system standards

This document can be used by organisations to:

*demonstrate their capability in terms of the planning, design, transition, delivery and improvement of services

*monitor, measure and review service management system and service

*enhance the planning, design, transition, delivery and improvement of services through effective implementation and operation of a service management system

Though BS ISO/IEC 20000-1 is expected to be primarily used for IT services, the British Standard is increasingly used outside of IT where service management is moving into the enterprise. Common areas include facilities management and business process outsourcing.

Anne Hayes, head of governance and resilience at the BSI, said: “Whether your organisation is an internal service department or an external service provider, delivering a quality service valued by your stakeholders is essential. BS ISO/IEC 20000-1 will assist today’s organisations in responding to ever-increasing service demands and a changing service delivery environment.”

*More information on BS ISO/IEC 20000-1 can be found online at https://shop.bsigroup.com/ProductDetail?pid=000000000030337390

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