Research On Cost Control Of Property Insurance Enterprises From The Perspective Of COSO

Under the current increasingly fierce market competition environment,how to ensure the sustainable and healthy development of property insurance companies are facing a serious problem.From the property insurance industry external operating environment,facing the severe market competition is intense and silver product homogeneity circ rigorous challenge after the establishment of strong supervision,internal management face the management pattern by the development-oriented to have quality high benefit for the development of transformation,so the cost control effectively cope with more challenges for whether the transformation success plays a vital role,and cost control is the important content.Cost plays an important role in preventing risks in the complex market environment faced by the financial industry.Therefore,how to manage internal control from the perspective of enterprises is an important challenge for the property insurance industry.At present,the management mode and thinking of the property insurance industry have been far behind the management requirements,especially in the risk control,the integration with the long-term and short-term business objectives of enterprises,the application of innovative tools need innovation and development.The latest version of the international anti-corruption commission's coso-rem framework is highly consistent with the above requirements of enterprises in terms of guiding ideology and content,providing feasible business ideas and methods for effectively solving the above internal and external challenges of property insurance industry.Based on the newly released COSO-ERM framework principle and perspective,this paper tries to establish a new cost control mode for property insurance enterprises.Firstly,this paper clarifies the guiding ideology of enterprise internal control under the new framework by comparing the different elements of the old and new COSO frameworks.Then,by expounding the classification and connotation of the cost of property insurance enterprises in the perspective of financial accounting and management accounting,this paper proposes the status quo of the cost control of property insurance enterprises in the context of "business fare reform" and "integration of reporting and transportation",and analyzes the existing problems in the control.Furthermore,in the fourth chapter,the management basis and tools of risk assessment,target cost method,enterprise internal audit support,big data and artificial intelligence are proposed to be applied into the new control measures in the last chapter.Combining cost control with corporate governance,culture and long-term and short-term business objectives,it is proposed that cost should be integrated into corporate strategic objectives,corporate performance and business decisions.At the same time,it should be noted in the study that with the overall development of property insurance industry and the emergence of new technologies,the cost control under the COSO framework should also develop synchronously with the development of the market and enterprises,which is a dynamic process of continuous improvement and has its own vitality.Property insurance industry should take the initiative in the process of cost control under the guidance of the COSO framework constantly improve the internal management system,to develop more in line with the actual management process,the active introduction of new management mode of thinking,application of new technology,so as to realize the continuous development of cost control,improve enterprise overall competitiveness in the end.