Research On Operational Risk Management For Hunan Branch Of Chinalife Insurance Co., Ltd.

Because insurance industry is high risky, prevention, management and resolution of risks are the top priority of insurance companies. With the rapid development of China's insurance industry and the scale expansion of insurance companies, although there is more and more stringent regulatory control, the irregularities in operation are still plenty. Operational risk has become one of the major risks in the industry. And its effective management becomes the only route to further upgrade the level of insurance enterprise risk management and to improve the operating conditions. Therefore, enhancing the research of operational risk control of the entire insurance industry is of great significance in ensuring its sustainable and healthy development.This thesis selects Hunan Branch of China Life Insurance Co., Ltd as the object of study. After analyzing its current operational risk management problems and the causes, and learning from advanced risk management theory and successful practice, a strategy to improve its operational risk control system is presented.First it introduces the theory of risk control of the insurance industry, as a basis for analysis. It focuses on operational risk management of international experience, including general experience of operational risk control, and the operational risk management framework of the "New Basel Capital Accord". Then it investigates in detail risk control status quo of Hunan Branch of China Life Insurance Co., Ltd, including its basic conditions and status of operational risk control, and points out the existing problems together with their causes in the actual situation. Finally, using some of the basic theories involved in the "New Basel Capital Accord", based on a number of research results in literature, combined with the actual situation of Hunan Branch of China Life Insurance Co., Ltd, from the operational risk control incentive and restraint mechanisms, the implementation of zero cash payment received, underwriting of accountability, to strengthen information management and other aspects, it presents an improved operational risk management system for Hunan Branch of China Life Insurance Co., Ltd and proposes implementing measures for this system.This study is of value of practical application to strengthen and improve the risk control system of Hunan Branch of China Life Insurance Co., Ltd. It is also of some value of reference to other domestic insurance companies.