Eight years after the merger of Det Norske Veritas (DNV) and Germanischer Lloyd created DNV GL, the leading classification society, the company announced that it will be reverting to a simpler name. Effective March 1, the company will be known as DNV, a branding they believe evokes the more than 150-year history of the business which has evolved into assurance and risk management.
The company said the decision to simplify its brand name came after a comprehensive review of the company’s strategy as it positions itself for a world in which its markets are undergoing fundamental changes.
“We merged two leading companies with complementary strengths and market positions, and combining the two names was the right solution in 2013. However, it was not a name that rolled off the tongue, and many customers already refer to the company as DNV,” said Remi Eriksen, Group President and CEO. “Our brand is used by many of our customers to build trust towards their stakeholders, and a simpler name will be an even stronger trust mark for our customers in the future, but still carries with it all our strengths and proud 157-year-old legacy with a purpose to safeguard life, property and the environment.”
The DNV GL branding has been in place since the 2013 merger was announced. Over the last few years, the company acquired the remaining shares of Germanischer Lloyd, which traces its origins to the 1860s, and rebranded all of its operations to the merged organization. The name simplification the company said is a natural consequence of having completed the merger and operating as a fully integrated company.
Discussing the future outlook for the company and industry, Eriksen said “Our strategy not only positions us for significant growth in a world increasingly in need of a trusted voice, but also positions us to shape the future of assurance. DNV will offer the best, most efficient, and digitalized ways of delivering services - be it classification, certification, verification, inspection, advisory, or digital solutions.”
Among the issues he highlighted as challenges for companies as the transformation of the 2020s continues are the complexities of digitalization and decarbonization. DNV highlights forthcoming changes ranging from the pace of the energy transition to an evolution of the food, health, and transportation systems. They also predict the growth and maturation of digital technologies into large-scale applications.
DNV’s goal is to shape the future of assurance with more digitalized services and by leading the assurance of digitalization in the form of assuring data, digital twins, and digitized processes.
Courtesy: The Maritime Executive