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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 computer systems so that any required

information can be easily retrieved at any time. They also

develop and test new systems and procedures for the

company, procure and install them thus ensuring that the

company operates efficiently and effectively.

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