Study On Centralized Management Of Finance In T Insurance Company

With the deepening of reform and opening up as well as the promotion of China’ssustained economic aggregate, China’s property insurance industry has entered a rapid growthtrack. In recent years, affected by the intensified market competition, in order to improveprofitability, many insurance companies embarked on the road of reform and innovation,through close integration of resources, optimal configuration to build or enhance their corecompetitiveness, therefore, the Group operations became the development direction ofinsurance business entities. Against this background, as decentralized management systembecame increasingly inadaptable to insurance company’s intensive development strategy, ithas gradually been replaced by centralized management. In the meantime, based on theimportance of financial work in corporate management activities, financial integratedmanagement plays an indispensable role in centralized management system. Centralizedmanagement of finance has become the core content of contemporary insurance companycentralized management.The present study selects T insurance company as research object. It introduces thedevelopment of the current insurance industry, based on centralization and decentralization,risk management and other related financial management theory, proposes through case study,literature study and other research methods to study on T Company’s centralized financialmanagement. On the analysis of the current status of T insurance company, the present studypoints out the necessity of centralized financial management and periodical effects ofcentralized financial management implementation in T insurance company. Although TCompany’s financial management achieves certain of good effects, yet issues on institutionalprocesses, human resources, management information systems, management costs and auditwork are in existence. Through the analysis of the stated problems, the present study presentsa series of measures, for example to improve system evaluation processes and coordinationmechanism, increase system-building efforts, improve the overall quality of financialpersonnel, strengthen cost control, and improve the quality of audit work. Finally, three pointscan be summed up, that is, there are advantages and disadvantages of financial integratedmanagement, corrective mechanism should be targeted, timely adjusted according to changesin the external environment.At present, most insurance companies take centralized management of finance asimplementation model to control the branch, although it achieved certain results, how tocontinue to advance the work of centralized financial management, how to improve financial management work efficiency are the problems faced by many insurance companies. Theauthor hopes that this article can bring inspiration for the insurance company that implementscentralized financial management model.