<abstract xmlns="http://www.w3.org/1999/xhtml"><p>The significance of insurance activity is constantly growing, generating new problems and posing new challenges. One of these challenges is meeting the growing requirements and expectations of customers. This requires the efficient management of insurance companies, which means the necessity to resort to modern management concepts, particularly the concept of process management and its related instruments. The article presents the results of research carried out at the Faculty of Management of the Warsaw University of Technology regarding process management in insurance companies. The distinctness of insurance activity and its financial management is discussed and its following aspects presented: the identification of insurance activity processes encompassing the management of basic and auxiliary processes; the model of the financial management process of insurance companies; the relationship between the financial management process and other processes implemented in insurance companies; financial situation assessment measures for insurance companies, and the financial management process.</p></abstract>

The significance of insurance activity is constantly growing, generating new problems and posing new challenges. One of these challenges is meeting the growing requirements and expectations of customers. This requires the efficient management of insurance companies, which means the necessity to resort to modern management concepts, particularly the concept of process management and its related instruments. The article presents the results of research carried out at the Faculty of Management of the Warsaw University of Technology regarding process management in insurance companies. The distinctness of insurance activity and its financial management is discussed and its following aspects presented: the identification of insurance activity processes encompassing the management of basic and auxiliary processes; the model of the financial management process of insurance companies; the relationship between the financial management process and other processes implemented in insurance companies; financial situation assessment measures for insurance companies, and the financial management process.

The Process Approach in the Financial Management of Insurance Firms

Foundations of Management

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

{"article-title":"The Process Approach in the Financial Management of Insurance Firms"}

The significance of insurance activity is constantly growing, generating new problems and posing new challenges. One of these challenges is meeting the growing...

The Process Approach in the Financial Management of Insurance Firms

Published Online: Feb 20, 2020

Page range: 7 - 18

DOI: https://doi.org/10.2478/fman-2020-0001

Keywords
process management, process identification, financial management process, financial management process model, process relationships, process evaluation measures

© 2020 Lech Gąsiorkiewicz, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

The Process Approach in the Financial Management of Insurance Firms

Published Online: Feb 20, 2020

Page range: 7 - 18

DOI: https://doi.org/10.2478/fman-2020-0001

Keywordsprocess management, process identification, financial management process, financial management process model, process relationships, process evaluation measures

© 2020 Lech Gąsiorkiewicz, published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Keywords
process management, process identification, financial management process, financial management process model, process relationships, process evaluation measures