Research On The Accuracy Of Assessment Loss Of Property Insurance Companies

Due to the industry specificity of the insurance company,its biggest liability is the reserve for outstanding claims,that is,the preparation for funds that have occurred but have not yet been paid.Whether the management of outstanding claims reserves is in place directly reflects the management level of insurance companies.The outstanding claims reserve is too high,the current cost increases,the insurance company’s liquidity is reduced,affecting the total amount of funds available for investment or other purposes;insufficient,it is not enough to cope with possible indemnities,the solvency is weakened,affecting the company’s stable operation.What is the management of the outstanding claims reserve,how is the sufficiency rate,and the key metrics and basis is to estimate the accuracy rate.At present,property insurance companies basically judge the management level of their outstanding claims reserves through the observation of the accuracy of the estimated damage.Estimating the accuracy rate index is very important for property insurance companies and directly affects the insurance company’s business decisions.However,in the current domestic and foreign property insurance companies,it is very common to adjust the estimated loss rate and estimate the indemnity by human intervention to adjust the reserve for outstanding claims and adjust the book profit.Due to the restrictions of national policies and regulations,and the inherent needs of insurance companies to protect their own healthy and stable operations,the head offices of various domestic property insurance companies have introduced various measures in response to this phenomenon,in order to prevent the artificial adjustment of the estimated amount of compensation,Ensure the truth of the business data.However,these measures are more focused on post-mortem inspections and post-event management,with limited success,and can not effectively curb the regulatory behavior of branches.This paper first analyzes the current situation of domestic and foreign property insurance companies,and finds that the estimation of the accuracy of the damage is universal.Then through the case of Pacific Company,an empirical analysis was conducted on the practice of adjusting the valuation accuracy and adjusting the financial data and profit performance of the branches.Next,analyze the underlying reasons why the branch should do this.Finally,on the basis of the above analysis,the common methods of estimating the accuracy of the loss are listed,and the specific suggestions for more effective damage control through pre-existing prevention and inprocess control are proposed,in order to help the work practice.