Activities auxiliary to insurance and pension funding n.e.c.
NACE v2.1 Code: L66.29
About activities auxiliary to insurance and pension funding n.e.c.
NACE code 66.29 covers a diverse range of activities that support the insurance and pension funding industries. These auxiliary services play a crucial role in the smooth functioning of the financial sector, enabling insurance providers and pension funds to effectively manage their operations and serve their clients. This industry is an integral part of the broader financial services ecosystem, contributing to the overall stability and growth of the economy.
Production process
The main activities under NACE code 66.29 include claims adjustment, actuarial services, and the management of insurance portfolios. Claims adjusters investigate and assess the validity of insurance claims, ensuring that payouts are made in accordance with policy terms. Actuaries use statistical and mathematical models to analyze risk and determine appropriate insurance premiums and reserves. Portfolio managers oversee the investment of funds held by insurance companies and pension funds, aiming to generate returns that can be used to fulfill their financial obligations.
Production inputs
The key inputs for this industry include a highly skilled workforce with expertise in areas such as risk analysis, financial modeling, and customer service. Additionally, these auxiliary services rely on robust data management systems, specialized software, and access to comprehensive industry databases to support their operations. Regulatory compliance is also a significant input, as these activities are subject to various laws and regulations governing the financial services sector.
Production outputs
The primary outputs of NACE code 66.29 are the services provided to insurance companies, pension funds, and their clients. These include claims processing, actuarial analysis, portfolio management, and other support functions. The outputs of this industry are consumed by [nc_link(65.11)Insurance), [nc_link(65.20)Reinsurance), and [nc_link(65.30)Pension funding) activities, as well as by the broader financial services sector.
Revisions to 66.29
Classification codes are adjusted frequently. The code may have been revised or replaced between system versions. The table below shows the history (newest to oldest) of the code 66.29. The most recent 1 version of this code (66.29) is in the NACE v2.1 system (this version):
This page shows the most recent version of code 66.29.
Older versions
Family tree for activities auxiliary to insurance and pension funding n.e.c.
graph LR
A["<a href='/classifications/nace/v2-1/L'>L: FINANCIAL AND INSURANCE ACTIVITIES</a>"]
A --> B["<a href='/classifications/nace/v2-1/L/66'>66: Activities auxiliary to financial services and insurance activities</a>"]
B --> C["<a href='/classifications/nace/v2-1/L/66/2'>66.2: Activities auxiliary to insurance and pension funding</a>"]
C --> D["<a href='/classifications/nace/v2-1/L/66/29'>66.29: Activities auxiliary to insurance and pension funding n.e.c.</a>"]
C --> E["<a href='/classifications/nace/v2-1/L/66/21'>66.21: Risk and damage evaluation</a>"]
C --> F["<a href='/classifications/nace/v2-1/L/66/22'>66.22: Activities of insurance agents and brokers</a>"]
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