The purpose of the Business Continuity Planning (BCP) Program is to ensure the continued operation of the Birla Sun Life Insurance Co Ltd (BSLI) through an organized business recovery program.
Why BCP?
To address threats such as:
Natural disasters,
Operational breakdowns,
Other Hostile situations,
Employee malevolence,
Damage to critical information technology and telecommunications systems etc.
These threats can result in lost profits, loss or damage to assets, injuries, loss of life, damage to a company's reputation, or in extreme case, even affect the existence of an organization. BSLI's BCP program addresses these risks and provides plans for effective recovery of its core business processes within a certain acceptable time frame in case of disruption to its businesses due to any such event or incident.
Program Overview
BCP program was developed in 2001 and BSLI is still one of
the few Insurance Companies in India to have a vibrant BCP program
Based on international best practices and global industry
standards. BCP program is an important component of our Risk Management activities.
Goal is to develop documented crisis response procedures for responding to and stabilizing the situation following an incident or event and business continuity procedures to address recovery.
Plan documents address –
crisis management and incident response;
data back up, data and system recovery;
recovery of all mission critical business functions and supporting systems;
alternate recovery sites if primary location is unavailable;
communication with customers, employees and other stakeholders;
and assurance to customers that they will continue to receive optimum customer services all the time
How to make it work?
BSLI ensures that its plan is current at all times by performing the following activities:
Business Impact Analysis (BIA) and Risk Assessment - Performed every year.
Business Continuity Plan - Written plans are required for all critical functions.
Business Continuity Plan Review and Update - Performed at least once annually.
Business Continuity Plan Exercises - Performed at least annually.
We constantly monitor events and adjust plans accordingly. The activities set forth above may evolve as business and regulatory needs require.
Insurance is the subject
matter of solicitation. Birla Sun Life Insurance. Registration no. 109
Birla Sun Life Insurance Company Limited, 6th Floor, Vaman Centre,
Makhwana Road, Off Andheri-Kurla Road,
Andheri (East), Mumbai 400059
