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Management Insurance Agency Accounting Companies

The objective of this work is to develop in a short space an exposition on the problems of the application of Management Insurance agency accounting companies. As a reason, the strategy to take is one of practicality, with two objectives in mind. Achieved profits or current level of development of management accounting, in this type of business.

Pending challenges or currently underdeveloped areas of management accounting

To focus these objectives of the work, it is necessary to comment on some differentiating characteristics of the sector with respect to the rest. As well as mark some information needs that management accounting must satisfy in these entities. It is important to keep in mind that in the practical application of management accounting the company’s administrative-computing capacity is a factor. It has made great development, to the point where many concepts are unable to be implemented in a timely manner due to these limitations.

Development of Management

Therefore, advances in the development of management accounting are closely linked to improvements and increases in the entity’s administrative-IT structure. Due to space problems and the scarce knowledge of the Betmoon giriş
insurance sector that the people to whom this presentation is addressed, do not delve into some aspects that present a certain complexity, but if it is intended to offer a document sufficiently adapted to the terminology of conventional accounting, so that said people, understood on the other hand in Management Insurance Agency Accounting, can approach without difficulty the problem of its development in this activity.

2. DIFFERENTIATING ELEMENTS OF THE SECTOR.

The insurance companies carry out a defined activity consisting of the provision of covered services. And the assumption of the consequences derived from events of a random nature that. In some cases, certain in the phenomenon but indeterminate in time, with an effective consideration that is prima. This activity is generically framed within the service sector since there is no transformation process in it. Within the insurance activity, it is convenient to distinguish some characteristics of significant importance. That mark situation that is very different from other economic sectors. And that will influence the configuration of any Management Insurance Agency Accounting system that is implemented.
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These idiosyncrasies are as follows. A clearly defined unit of product such as the policy. Although companies, especially large ones, simultaneously offer a wide range of insurances that cover multiple risks or guarantees. Both to individuals and to companies or industrial insurances. In past years, a greater variety of options has been made available, with the goal of better catering to the unique demands of each customer. Small customer segment. For example within the multi-risk shops, specific products are offered for bars, pharmacies, etc. In such a way that the future trend is to offer, not closed policies. But multiple guarantees and that it is the client himself. Who determines to which he subscribes, preparing for this purpose a policy to his strict measure.

Real costs

The problem of the uncertainty of the real costs at the time of setting the price of the product or policy. Because this must be set at the beginning of risk coverage, and as previously said, they arise at random. As a result, actuarial and statistical computations are used to reach this conclusion based on prior experience. Importance of estimates, especially claims, for the calculation of results, with the consequent increase. In relativity and the need for greater prudence in their determination.
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It is a strongly decentralized business since it is distributed through agents, both independent and well attached to entities, which in turn are related to society through branches that present a significant level of autonomy in their management, which means having dispersed commercial networks, distributed throughout the geographical area of ​​activity (nation, region, province or locality). In turn, the entities have also important central offices, in which they can centralize various services, limiting some of their functions.

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