Life Insurance Companies Internal Control

Insurance of the 21st Century is developing to a new stage of human civilization. The developing pattern of economic compensation, liquidity and social management is the intrinsic logic force of modern insurance development. In the process of economic globalization and integration, it not only promotes the common well-being of mankind, but also on a global scale rapidly spreads and transfers the crises fluctuations; The new technology represented by internet provides unprecedented interoperability "zero access" facilities for the global liquidity. This is a major opportunity for virtual economic and financial development, but also implies a very deep crisis; Self-development system of China's insurance is not yet perfect, it must adapt quickly to the new requirements of modern development of the insurance; China's insurance is not yet in the domestic market integration business, while it must encounter multinational competitors, and compete for the global market with international insurance partners; China's insurance industry is in its own separate operating system, while it has to face the competitions of transnational financial service providers in all directions under the integration business model.In this paper, practical problems in the inner control of China's life insurance companies will be fully stated from five aspects of organizational structure, risk assessment mechanism, financial accounting, operational control mechanism and information technology and control mechanism, and solutions will be proposed combining with the advanced risk management framework in overseas theoretical and practical life insurance business.