Services auxiliary to insurance and pensions

CPC v2.1 Code: 716

About services auxiliary to insurance and pensions

cpc code 716 covers a range of services that support the insurance and pensions industry. This industry plays a crucial role in the broader economy, providing essential risk management and financial planning services to individuals and businesses. The services included in this code are vital for the proper functioning of the insurance and pension systems, which in turn contribute to economic stability and growth.

Production process

The main production techniques in this industry involve the provision of specialized services such as actuarial analysis, claims processing, policy administration, and investment management. These services are typically delivered by highly skilled professionals, including actuaries, underwriters, claims adjusters, and financial advisors, who utilize a range of software and data analysis tools to perform their tasks.

Production inputs

The key inputs required for this industry include a highly educated and trained workforce, access to comprehensive data on insurance and pension products, and robust information technology systems to support the processing and management of large volumes of financial information. Additionally, the industry relies on strong regulatory frameworks and oversight to ensure the integrity and stability of the insurance and pension systems.

Production outputs

The primary outputs of this industry are the various services that support the insurance and pensions sector, including 651 Life insurance, 652 Non-life insurance, and 653 Pension funding. These services are essential for the proper functioning of the financial services industry as a whole, as they help individuals and businesses manage risk, plan for retirement, and protect their assets.

Family tree for services auxiliary to insurance and pensions

    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/v2-1/716'>716: Services auxiliary to insurance and pensions</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/v2-1/713'>713: Insurance and pension services (excluding reinsurance services), except compulsory social security services</a>"]
B --> G["<a href='/classifications/cpc/v2-1/714'>714: Reinsurance services</a>"]
B --> H["<a href='/classifications/cpc/v2-1/715'>715: Services auxiliary to financial services other than 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/v2-1/7161'>7161: Insurance brokerage and agency services</a>"]
C --> K["<a href='/classifications/cpc/v2-1/7162'>7162: Insurance claims adjustment services</a>"]
C --> L["<a href='/classifications/cpc/v2-1/7163'>7163: Actuarial services</a>"]
C --> M["<a href='/classifications/cpc/v2-1/7164'>7164: Pension fund management services</a>"]
C --> N["<a href='/classifications/cpc/v2-1/7169'>7169: Other services auxiliary to insurance and pensions</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 M level4
class N 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