Application Of A Comprehensive Risk Management Oriented Insurance Company Internal Control

The insurance industry is an important mechanism for business risks and safeguard people’s livelihood.With the financial globalization and the increase of protection needs in social life, insurance companies have produced more kinds of insurance products and expanded risk management services and sales channels. At the same time, the influence of risks faced by the insurance industry is growing than ever before. As the largest insurance company in U.S., AIG got many problem with its insurance funds caused by over-exploitation of high-risk products (CDS) under the impact of the financial crisis in2008, what’s more, the lack of internal control and risk management was another important reason. In China, with the rapid development of the domestic insurance industry in the financial markets, the insurance complany should enhance the management of investment funds, high-risk business, and the rational exploitation of insurance products etc. To better meet that requirements, the company should establish a Enterprise Risk Management-oriented internal control to co-ordinate the integration of control risk, improve risk management efficiency in order to achieve business objectives.In this paper, with the applycation of literature research, case studies, comparative analysis, I got a research in the characteristics of financial products for the insurance industry, capital management features, characteristics of the financial management and other aspect, as well as the special nature of the risks faced by the insurance industry and risk management. At the same time, I did the domestic research studies about the relevant provisions of internal control policies to provide reference basis. Internal control in this paper was mainly centered on efficiency and risk control operations.Insurance company A has been implementing the risk management consulting project,we can draw valid conclusions through case studies on the enterprise risk management-oriented internal control in the application and effectiveness evaluation ofthe insurance company.There must be short comings in this artiele because of my limited theory level and rare working experiences.I hope all the readers can give me some suggestions.In the later years of studying and working,I will further investigate on this topic and try to make it better.