Cash Expenditure Accounting System for Claim Payment at PT Asuransi Umum Bumiputera Muda 1967 Yogyakarta Branch

Abstract

The development of the insurance industry in the modern era places insurance companies as an integral part of the financial sector which continues to experience significant growth in recent years. The management of cash expenditures for claim payments requires an efficient and accurate accounting system in order to ensure the company's financial health, compliance with regulations, and optimal service to customers. This study will discuss system design, implementation, and performance evaluation of the Cash Expenditure Accounting System for Claim Payment at PT Asuransi Umum Bumiputera Muda 1967 Yogyakarta Branch Office. A qualitative approach is chosen to explore the views, perceptions, and experiences of the research subject. Data collection in this study uses descriptive methods qualitative approach to obtain in-depth information about the implementation of the cash expenditure accounting system for claim payment in a particular company. The results of this study show that there are several new knowledge and insights that can be obtained: (1) understanding the terms and conditions of claims on certain types of insurance such as cars, motorcycles, health, and homes provides insight into customer responsibilities in reporting incidents and submitting claims. (2) Understanding the internal controls implemented in the organizational structure, separation of duties, and authorization in managing insurance claims helps ensure integrity, reliability, and accuracy in the claims payment process. (3) The implementation of good financial governance in the claim payment process can help reduce the risk of fraud and errors