Research On Operational Risk Management Of Life-Insurance Business In M Company

With a rapid development of China’s insurance industry, the insurance market competition becomes increasingly fierce, and the overall risk management of the various insurance companies has become its core competitiveness, to determine the survival and development of the insurance companies. However, the operational risk event has occurred frequently in recent years, so the insurance companies recognize that operational risk has become one of the main risks of restricting the development of the company. Thus, how to strengthen the effective management of operational risk, enhance the ability to resist risks, is essential to develop long-term and healthy for the insurance companies.This article selects the M insurance companies as its study object and put forward a corresponding concrete solutions based on in-depth analysis of the main problems of operational risk management for the M insurance company life insurance business, combined with comprehensive risk management theory. Firstly, this article draws the Basel definition of operational risk to elaborate traditional risk management theory and its limitation, so as to bring the COSO comprehensive risk management framework theory. Based on these theories, this paper analyzes operational risk management status of the M company’s life insurance business, to tease out some of the major issues in M. By the analysis, we find that risk assessment system for M company operating risks found is not perfect, so it tries to construct M companies operating risk assessment system, through qualitative and quantitative assessment methods to find some specific weak links during operational risk management. Finally, based on a comprehensive risk management theory, combined with the actual situation of the M company operating risks, we produce a comprehensive risk management system, to promote the internal operational risk of control and management, to establish a risk management information system, to strengthen the nurturing of operational risk management culture and the professional human capital accumulation of risk management, and so specific countermeasures and suggestions.The results of this paper have certain practical significance for operational risk management of the M insurance company life insurance business, the problems which M exist in operational risk issues are universal in the domestic insurance industry, so it has significance for the similar enterprises.