A Study on the Implementation of ISO 31000 in the Insurance Industry Through the Application of Integrated Risk Management Principles

This study aims to provide a comprehensive overview of the implementation of ISO 31000 in the insurance industry, with a focus on the application of integrated risk management principles. The Systematic Literature Review (SLR) approach was used, with reference to the PRISMA 2020 guidelines, to ensure that the processes of searching, selecting, and synthesizing literature were carried out in a systematic, transparent, and replicable manner. The search was conducted on reputable scientific databases such as Scopus, ScienceDirect, SpringerLink, and Google Scholar, with a publication range of 2020–2025. Articles that met the inclusion criteria were analyzed through thematic synthesis to identify implementation patterns, barriers, and success factors for ISO 31000 in the insurance sector. The results show that the ISO 31000 standard contributes to improving risk governance, strengthening the integration of risk management processes into business activities, and fostering a more mature risk culture. However, several challenges persist, such as a lack of top management commitment, limited human resource competencies, and organizational cultures incompatible with integrated risk management principles. This study concludes that successful implementation of ISO 31000 depends heavily on leadership support, a strong risk governance structure, and the organization's ability to internalize risk principles into its strategic and operational processes. These findings offer academic contributions and can serve as a reference for researchers and practitioners developing studies and risk management practices in the insurance industry.