Research On Risk Control Strategy Of Personal Accident Insurance Compesation For T Property Insurance

Personal accident insurance is closely related to the lives of the people.With the development of the era,it provides an opportunity for the growth of personal accident insurance by people's desire for health and unremitting pursuit.The compensation standards for personal injury and industrial accidents continue to increase.People have more needs and more understanding of insurance knowledge.On the one side,Personal accident insurance involves all aspects of social activities,so the demand is increasing.On the other side,the convenience of online insurance has accelerated the development of the insurance market especially after entering the Internet era.At the same time,the rapid growth of insurance companies has made the competition of personal accident insurance products in different fields and different channels increasingly fierce.With the intensification of competition,the problems in the insurance market are endless,the malicious competition between companies,the problem of inverse selection that some gangs using product or process loopholes,lack of integration of processes within the company,product violation risk and so on.It results in the high loss rate of personal accident insurance,which will inevitably affect the overall business performance of the company.It is imperative to sort out the existing problems and analyze the risk-influencing factors of each link thoroughly.In order to ensure the sustainable development of the business,it is necessary to strengthen the risk identification mechanism for personal accident insurance claims cases and form a scientific system to manage and control personal accident insurance claims.The Six Sigma management concept was established in the early days to improve the quality of manufacturing enterprises continuously.It aims to control the product quality variance within six sigma through definition,measurement,analysis,improvement and controlment.Six Sigma is used for risk management and control,though it can't perform statistical analysis of variance as in product quality analysis.However,it can use the basic concepts of Six Sigma quantitative analysis to improve the payout risk of the operation process of insurance companies through definition,measurement,analysis,improvement and controlment.T Property Insurance Company is a large-scale property insurance company.This article identify various risks in the whole operation process of personal accident insurance and improve some indicators through combining with the specific case of T property insurance company and the DMAIC method in the Six Sigma method widely spread in the world.Firstly,we propose various risk assessment indicators used by the expert analysis method,brainstorming method and flow chart analysis method and combined with the business conditions of the personal accident insurance of T property insurance company,including 10 indicators of product — development and sales,product underwriting and insurance claims.Secondly,the internal and external data required for each indicator are collected and measured,and the index evaluation criteria are formulated.Besides,internal efficiency insurance and overall situation of the company can used by comparing and analyzing to benchmarking companies.Again,a small-scale improvement test was carried out for the two key risk indicators of risk time and sub-regional risk rate.It achieved the desired verification effect,and reduced the insurance claim loss rate effectively.Finally,the improvement method will be promoted in order to obtain long-term effects and be applied in other insurance types.This paper aims to provide suggestions for improving the risk management of personal accident insurance for T property insurance company through the combination of theory and practice,strengthen the efficiency of personal accident insurance management,reduce the overall loss ratio,and ensure the steady development of T property insurance company.