| Risk management will prevail in 21st century. At the beginning of this century, a fundamental revolution of risk management evolved because of the risk transformation. On the tip of this revolution, there is non-life insurance company that treats pure risk management as a core business.Chinese non-life insurance company is on the way to reforming and opening when the revolution engulfs the entire world. Being involved in many composite risky environments, Chinese non-life insurance company makes its existing concepts and methods of Underwriting Risk (UR) management fail to catch up with the consumer's growing conscious needs to insurance products. On the view of historical materialism, it is an inexorable law to switching on an holistic approach to manage UR, especially in the process of technical innovation and concept revolution in Chinese non-life insurance company.In structure, this paper is composed of three parts.The first part is chapter 1, answering the basic question of what is "integrated approach" and "why to integrate". It starts on the transformation of risk, which results in the "Integrated Risk Management" (IRM). After comparing to ERM TRM HRM, we induce the basic rule of IRM, which can be called "ONE CORE and TWO MELTING". Then, the paper focuses on non-life insurance company to study its risk transformation and environments changing of risk management, before pointing out the necessity of taking out IRM to UR in non-life insurance company.The second part, chapter 2, answers the question of "what is the object of integrating". This part deeply analyzed the nature, measurement, stipulation, effective factor and status of UR in non-life insurance company. The third part is the main body of the paper, talking about the problem on "how to integrate". This part is composed of chapter 3 and chapter 4. Considering the basic rule of IRM, chapter 3 focuses on "TWO MELTING", which can be realized by "mechanical integrating system"; And chapter 4 talks about "ONE CORE", which has a "value integrating system" to realized the enterprise value of non-life insurance company.So, we come to know that the basic rule of IRM is a thread to link up the demonstration of entire paper. But It is not enough to know the thread, readers are also asked to know that concept UR is the start point of analyzing logic: firstly, studying the nature of UR, we get to know that it is a speculative risk which comes from the pure risk. So when we are dealing with UR, we must melt two series of risk management theory, no matter what it studies on, whether pure risk or speculative risk; secondly because of its core status in non-life insurance company, it is a connecting link between the product management and capital management. So "mechanical integrating" is asked to match the "value integrating", this also gives out a reference to chapter 4."Mechanical integrating" is a process proceeding to "value integrating". Just by looking into their nature theoretically and practically, the main body of the paper can discover the veil of IRM to UR in non-life insurance company.In this paper, portfolio management model of speculative risk is the start point of analyzing "mechanical integrating". This model is the base of "pool balance" and "time balance" of UR. This two balance differ each other in their horizontal and vertical dimensions but all of them are of great importance to non-life insurance company: Inside, it take out a multi-pillar and multi-dimension method to manage risk, it is a plural risk management plan which integrating traditional risk management, modern product portfolio management, traditional and innovational reinsurance management; Outside, it helps us to build a connecting system between non-life insurance company and other financial institutions such as bank and security company.This paper studies on "value integrating" by means of analysis on capital system. The author deconstructs this system according to their functions to entail UR. So that the co... |
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