Process

{
  "id": "MLC-T-INS-002691",
  "term": "Process",
  "field": "Insurance and risk management",
  "definition": "A sequence of related activities or tasks performed by an organization to achieve a specific business objective, such as underwriting a policy, processing a claim, or managing investments. Each step in the process transforms inputs into outputs, adding value along the way. Documenting and analyzing these processes is a core component of operational risk management, which seeks to identify potential failures, bottlenecks, or inefficiencies that could lead to financial loss.",
  "url": "https://mlchart.com/terminology/insurance/process/"
}