Research On Internal Control Of Business Operation Link Of Property Insurance Company

As a financial enterprise that collects and distributes risks,insurance companies play a vital role in providing social security,stabilizing living standards and promoting social management.By the end of 2018,the national premium income amounts to 3.80 trillion yuan,so the insurance industry is an indispensable part of China's financial market.The stable development of insurance companies is of great significance to the stability of China's economic development and the quality of life of the people.However,in the process of rapid development of the insurance industry,there are also various risks,affecting the stability of the insurance industry.Statistics in the announcement of "Administrative Penalty Decision of China Insurance Regulatory Commission" issued by the Insurance Regulatory Commission between 2014 and 2018 show that in the past five years,the CIRC has issued 133 punishment decisions covering 51 insurance companies and their subsidiaries,with a total penalty amount of 33.87 million yuan.Among them,19 property insurance companies have been punished and 77 punishment decisions have been issued,accounting for 57%of the total.89%,the penalty amount was 19.8 million yuan,accounting for 58.46%of the total.It can be seen that compared with life insurance companies and other insurance companies,property insurance companies have more problems and more penalties,which is representative of the study.This shows that the study of risk problems and internal control defects of property insurance companies is of great significance for stabilizing the development of the insurance industry.This paper takes T property insurance company as a case study,and illustrates the reasons for selecting T property insurance company as a representative case study through the background information of the property insurance industry and T company.T property insurance company has the background of civil capital and the premium income ranks the top ten among the Chinese property insurance companies.It has a large scale.At the same time,it ranks the second in the number of penalty items in the CIRC's penalty decision.The existing problems are typical.Therefore,considering comprehensively,the internal control deficiencies of T Properly Insurance Company are representative for the study of property insurance industry.Therefore,the internal control defects of T property insurance company are studied,and the measures and suggestions for improving the internal control of T company's business operation link are put forward,which can provide a good reference for strengthening the internal control management of the property insurance industry,and at the same time,it is also conducive to the stable development of the insurance industry.The innovation of this paper lies in putting forward a series of measures to improve the internal control of property insurance companies by analyzing the risks and problems existing in the business operation of T case property insurance companies.Among them,strengthening the basic management construction and risk management mechanism of propeity insurance companies and designing self-checking and self-correcting control measures have universal effect on the internal control construction of property insurance companies.Moreover,the design of risk self-checking and self-correcting control measures has innovative significance,which provides a good reference value for property insurance companies to improve their internal control.At the same time,there are also shortcomings in this paper.Firstly,individual cases have their own characteristics,the insurance business of each property insurance company is different,and the author's viewpoint is subjective.So when the property insurance company constructs the internal control system,it also makes a concrete analysis of the specific situation,combines the theory with the enterprise's own situation,combines the research content with practice,and constructs the internal control system suitable for the property insurance company.Secondly,the improvement of the internal control system of property insurance companies needs continuous improvement A series of factors,such as changes in national insurance regulations,changes in market environment and changes in company strategy,may make the effect of internal control link inconsistent with expectations.Therefore,when property insurance companies encounter business risks,they should make specific analysis according to specific events.