Insurance and pension services (excluding reinsurance services), except compulsory social security services
CPC v2.1 Code: 713
About insurance and pension services (excluding reinsurance services), except compulsory social security services
cpc code 713 encompasses a vital segment of the financial services industry, covering a range of insurance and pension-related activities. This industry plays a crucial role in providing risk management solutions and long-term savings options for individuals and businesses, contributing significantly to the overall stability and growth of the economy. By offering a diverse array of insurance products and pension services, this industry helps to safeguard against unforeseen events and ensures financial security for its clients.
Production process
The core production techniques within the insurance and pension services industry involve the underwriting, management, and distribution of various insurance policies and pension plans. Actuarial analysis is a fundamental process, where professionals assess risk, calculate premiums, and design appropriate coverage options. Additionally, the industry utilizes sophisticated data analytics and customer relationship management systems to tailor products and services to the specific needs of clients.
Production inputs
The main inputs required for the insurance and pension services industry include a skilled workforce of insurance agents, underwriters, actuaries, and customer service professionals. Additionally, the industry relies on robust information technology infrastructure, including software for policy management, claims processing, and customer relationship management. Access to reliable data sources, such as historical claims records and demographic information, is also crucial for accurate risk assessment and product development.
Production outputs
The primary outputs of the insurance and pension services industry are the various insurance policies and pension plans offered to individuals and businesses. These products can include life insurance, health insurance, property and casualty insurance, as well as retirement savings plans and annuities. The outputs of this industry are often consumed by 611 Monetary authorities - central bank, 612 Deposit-taking corporations except the central bank, and 641 Financial service activities, except insurance and pension funding, as these entities may offer complementary financial services to their clients.
Family tree for insurance and pension services (excluding reinsurance services), except compulsory social security services
graph LR
A["<a href='/classifications/cpc/v2-1/7'>7: Financial and related services; real estate services; and rental and leasing services</a>"]
A --> B["<a href='/classifications/cpc/v2-1/71'>71: Financial and related services</a>"]
B --> C["<a href='/classifications/cpc/v2-1/713'>713: Insurance and pension services (excluding reinsurance services), except compulsory social security services</a>"]
B --> D["<a href='/classifications/cpc/v2-1/711'>711: Financial services, except investment banking, insurance services and pension services</a>"]
B --> E["<a href='/classifications/cpc/v2-1/712'>712: Investment banking services</a>"]
B --> F["<a href='/classifications/cpc/v2-1/714'>714: Reinsurance services</a>"]
B --> G["<a href='/classifications/cpc/v2-1/715'>715: Services auxiliary to financial services other than to insurance and pensions</a>"]
B --> H["<a href='/classifications/cpc/v2-1/716'>716: Services auxiliary to insurance and pensions</a>"]
B --> I["<a href='/classifications/cpc/v2-1/717'>717: Services of holding financial assets</a>"]
C --> J["<a href='/classifications/cpc/v2-1/7131'>7131: Life insurance and pension services (excluding reinsurance services)</a>"]
C --> K["<a href='/classifications/cpc/v2-1/7132'>7132: Accident and health insurance services</a>"]
C --> L["<a href='/classifications/cpc/v2-1/7133'>7133: Other non-life insurance services (excluding reinsurance services)</a>"]
%% Color coordination by level
classDef level1 color:#000,fill:#a8f9ff,stroke:#333,stroke-width:2px
classDef level2 color:#000,fill:#e0a458,stroke:#333,stroke-width:1px
classDef level3 color:#000,fill:#419d78,stroke:#333,stroke-width:1px
classDef level4 color:#000,fill:#c04abc,stroke:#333,stroke-width:1px
classDef level5 color:#000,fill:#f1c40f,stroke:#333,stroke-width:1px
classDef level6 color:#000,fill:#f1c40f,stroke:#333,stroke-width:1px
classDef highlight color:#000,fill:#fff,stroke:#000,stroke-width:5px
%% Apply classes
class A level1
class B level2
class C level3
class D level3
class E level3
class F level3
class G level3
class H level3
class I level3
class J level4
class K level4
class L level4
class C highlight
%% class A level1
%% class B,C level2
%% class D,E,F,G,H,I level2
%% class J,K,L,M,N,O,P level3
%% class C highlight