How often does a person think about what awaits him in later life? What will become of his health and property? After all, there are risks from which no one is safe. This is precisely what insurance organizations take care of, whose main activity is aimed at protecting human values.
What are insurance entities
Insurance organizations are various types of independent business entities that operate in the national economic system.
They are represented by:
- Institutions (SU).
- Enterprises (SP).
- Companies (JV).
- Joint Stock Companies (CAO).
- Financial groups at the regional level.
- International finance groups.
- Companies representing Russian-foreign relations, and other partnerships, private firms and state-owned companies.
The legislation of the Russian Federation stipulates that insurance organizations are separate structures of public law forms.
Occupation of insurance companies
In the territory of the Russian Federation they carry out the following activities:
- conclude insurance contracts;
- form funds and reserves in which funds for insurance are formed;
- are engaged in investing temporarily free finances in objects that are profitable;
- invest in securities and bonds;
- Are engaged in lending to certain areas of human activity;
- other functions.
Insurance organizations carry out their activities separately from the general state system. Therefore, they are recognized as independent entities and dispose of their resources and working capital at their discretion.
Relations with other insurers are built on the basis of reinsurance or co-insurance. Due to this, the insurance object (individual or legal entity) can be insured at once by several insurers on the basis of an agreement.
Insurance company staff
Regardless of the form of ownership, insurance organizations in the conditions of the modern market decide for themselves what labor relations their activity will be based on. They independently confirm their organizational structure and remuneration.
The specifics of their work forces the use of labor of two categories of employees:
- full-time specialists with the necessary work experience and qualifications who are engaged in management, carry out economic and consulting activities;
- freelancers responsible for collecting and paying cash.
In more detail among full-time employees there are:
- President of the insurance entity;
- specialist in economic issues (chief economist or vice president);
- general manager;
- manager (executive director);
- employees of the accounting department;
- chief specialists with class ranks of the first, second and third grade;
- insurance experts;
- department heads and their employees;
- inspectors;
- computer center workers;
- service staff.
Their activities are aimed at maintaining the credibility of insurance institutions in general. Their main goal is aimed at sustainable solvency of the company, maintaining it at a high level among competitors, as well as increasing its profitability.
Non-staff employees include brokers, medical experts, insurance agents, and others.
What do freelancers do
Insurance companies are organizations whose activities are aimed at the following:
- freelancers are engaged in the promotion and agitation of their company among various activities of organizations, as well as the public, to attract them to insurance;
- they conclude or renew insurance contracts for property, life, health and other matters;
- control the timely payment of policyholders on contributions, as well as payments from the insurance company itself in the event of an insured event.
We can say that the work of employees outside the state is aimed at promoting services from the insured to the insurer and vice versa.
Dividing the UK into organizational structures
Insurance organizations belong to the category of organizations, which are divided into two structures:
- management or management;
- by field of activity.
What is the difference between these structures?
Management Organizational Structure
It has become more widespread. Its principles are as follows:
- all production issues are not resolved unilaterally;
- the company's employees not only directly report to their superiors and execute all orders, but also develop their action plans to solve the tasks;
- the bosses are not responsible for the mistakes of their subordinates only if a certain problem arose from not taken actions from above.
The organizational structure is arranged in such a way that each employee at his own level is responsible for his mistakes. Each level has its own principles of work and decisions made, but the order that the boss can take cannot be accepted by the lowest level in the career ladder.
Organizational structure by field of activity
Its peculiarity lies in the fact that job duties are prescribed to employees not by their abilities, but by the nature of the structure of the organization.
The following features of this structure are distinguished:
- at each level, there are specialists who have a higher level of knowledge and ability than is required for the position they occupy;
- along with them, there are specialists whose knowledge is not enough for the position they occupy.
This includes mutual insurance companies and joint-stock insurance companies.
State insurance
Insurance organizations belong to the category of the state system in two cases:
- if they are established by the state;
- if the property of the joint-stock insurance company has been transferred to state ownership.
Typically, these organizations are engaged in those types of insurance that private insurance companies have refused, but at the same time covering these risks is of national importance.
How insurance companies relate to the banking system
In the process of their activities, banks often use the services of insurance companies, because their occupation is also associated with the risk of property losses.
Banks insure tangible assets and funds of both the financial institution itself and investors.
Risk insurance here is aimed at protecting against unlawful actions of personnel or third parties that may lead to losses.
The Bank acts as an insurer, and companies having licenses for this act as insurers.
Especially popular is deposit insurance. It is an important link in the entire banking insurance system. Thus, banks protect themselves from claims of depositors if they lose their money.
Also, banks pay special attention to lending. Currently, the problem with defaulters under these agreements is under the authority of insurance companies.
Financial and credit organizations actively insure their equipment and are protected by insurance regarding the use of plastic bank cards.