Research On Compliance Management Of Life Insurance Company Product Operation

Under the background of the deepening of financial market reform,the continuous improvement of the social economic development level,and the continuous improvement of people's quality of life,Chinese life insurance industry has also ushered in a period of rapid development,but at the same time,the accompanying compliance risks have continued to accumulate.In recent years,as the regulatory environment has become stricter,more and more life insurance companies have been punished by regulators for product operation violations,and product operation is an important part of life insurance company operations.Therefore,strengthening the compliance management of life insurance company product operation is especially necessary.The article is divided into six parts.The first chapter introduces the research background,research questions,research significance and purpose,research focus and innovation,and then summarizes the research status of domestic and foreign compliance management.The second chapter introduces the related concepts and theoretical foundations involved in this study.It mainly expounds the concepts of compliance management theory,game theory and product operation of life insurance companies,and divides it into products according to the process of life insurance product operation.Development,sales and maintenance of three links.The third chapter expounds the status quo of compliance issues of life insurance company product operation.From 2016 to 2018,China Banking Regulatory Commission has summarized the violations of life insurance company's product operations,and according to the three stages of development,sales and maintenance of life insurance products.The types and performances of compliance risks were summarized and analyzed,and the influencing factors of compliance risks were analyzed.The influencing factors mainly included the compliance awareness of product operation departments,the internal compliance supervision force,the competition level of life insurance market and supervision.Changes in the environment.On the basis of the previous discussion,the fourth chapter uses game theory to study the formation mechanism of the compliance problem of life insurance company product operation.Through constructing the internal and external supervision game model of life insurance company,the motivation of the compliance problem in product operation is discussed.According to the game results of the model,the generation of compliance problems and the benefits of illegal operations,the internal punishment mechanism for violations of life insurance companies,the reputation loss of life insurance companies,the cost of compliance supervision and inspection,and the incentives for compliance departments are related.The fifth chapter puts forward the countermeasures and suggestions to strengthen the compliance management of life insurance company product operation based on the analysis results of the previous article: First,reducing the cost of compliance supervision and optimize the life management company's product operation compliance workflow;second,increasing internal violation punishment and improve life insurance company internal compliance accountability and assessment mechanism;Third,building a effectiveness assessment system for life insurance company compliance management;Fourth,strengthening the incentive mechanism of the compliance department to improve the quality of compliance personnel;Fifth,improving the information communication mechanism,expanding the reputation effect.Finally,the conclusions of this paper and the prospects for future research are presented in Chapter 6.