Research On The Operational Risk Management Of Insurance Companies In China

Operational risk is one of the main risks of insurance companies encountered in the daily operation, the risk sources are mainly come from four categories, one is the improper operation, the second is due to system error, third is unreasonable process, the last is the external emergency. According to the definition of operational risk of the Basel accord, operational risk has seven forms, namely internal fraud, external fraud, workplace safety, fixed asset damage and business off and system damage, fault and process customer and product error. Because of China's insurance market started lately, the development of the market is still not perfect, so compared to the financial industry in a "pillar" industries:banking, insurance industry, operational risk occurrence frequency is much higher. The operational risk of the insurance industry is often accompanied by high burst loss and high efficiency,the risk of such cases are not uncommon in the insurance industry. Taking the insurance company as the research object, in the case of operational risk insurance company A as an example, discusses how to improve the operational risk management of insurance companies in China, which is of great significance for the insurance company's future operations.Based on the theory of operational risk,through six case studies of insurance companies operating risk factors during the operation mainly facing the analysis of practical operation relative to the degree of deviation and the reason of the universal law, comprehensive analysis of the current our country insurance company in operational risk management still exist problems and shortcomings, to think with the author's work experience, put forward the suitable framework of operational risk management of insurance companies in china.The study found that the risk management program has the following steps:risk identification, risk through the preliminary judgment, the risk event preliminary statistics; risk assessment, risk based coordinate axis method, expert scoring method and decision model of operational risk assessment methods for qualitative risk and operational risk through monitoring; classification; keep track of the operational risk, the future trend of development and determine the operational risk, operational risk assessment in real time may bring on the company's damage; the last steps of operational risk management framework should be in operation risk response, is mainly aimed at the characteristics of insurance companies are facing the operation risk, put forward risk measures suitable to. To reduce the operational risk management of insurance company for damages.