Page 76 - M1_Insurance Introduction Notes
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7. ACCOUNTING
As in any other organization, the accountants in an
insurance company keep records of the income
and expenses. They keep track of the income from
premiums and investments as also the expenses for
running the office, agents' commission, claim
payments, etc. They prepare the reports and
statements which show the financial position of
the company. The policy holders, shareholders,
and insurance regulators can get to know the
financial status of the insurance company from
these reports.
8. INFORMATION SYSTEM
The employees looking after this area provide
their services to all the departments of an
insurance company. They design and maintain
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