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Business processes in the insurance company: The method of operation through separating the key areas of activities

Vol. 23, Iss. 11, NOVEMBER 2020

Received: 5 September 2020

Received in revised form: 5 October 2020

Accepted: 26 October 2020

Available online: 13 November 2020

Subject Heading: Managerial accounting

JEL Classification: M41, М42, M49, G22

Pages: 1269–1290

https://doi.org/10.24891/ia.23.11.1269

Turgaeva A.A. Astrakhan State Technical University (ASTU), Astrakhan, Russian Federation
a_turgaeva@mail.ru

https://orcid.org/0000-0002-8374-1706

Subject. This article analyzes the business processes in the insurance company, using the method of their operation with the selection of key areas of activity.
Objectives. The article aims to describe certain business processes in insurance, highlighting participants, lines of activity, and the sequence of procedures. It analyzes the business process Settlement of Losses, which is one of the significant business processes in the insurance company.
Methods. For the study, I used the methods of induction and deduction, analogy, and the systems approach.
Results. Based on the analysis and description of business processes in the insurance company and the identification of key elements and steps in terms of the effectiveness of decisions, the article identifies the checkpoints of Entry and Exit, activity direction, and resources of the Settlement of Losses process.
Conclusions. The application of the categories that split business processes makes it possible to develop step regulation for all processes and acceptable control procedures for different operations. The presented checkpoints at different steps of the business process will help identify weaknesses and eliminate them by re-checking the point.

Keywords: insurance company, business process, entry point, exit point, resources, settlement of losses, marketing

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