Bakgrund: Operativ risk är ett begrepp som har tilltagit i betydelse genom uppdagandet av skandaler och konkurser inom den finansiella sektorn. Varje svenskt försäkringsföretag är skyldigt att hantera operativa risker, men eftersom det är omöjligt att normalisera dess innebörd, åligger det företagen själva att avgöra dess omfång. Många ansträngningar har gjorts vad gäller att rama in och beskriva denna kategori för ”allmän rädsla”, en uppgift som fortsatt lider av brist på konsensus. Syfte: Syftet med denna studie är att fördjupa kunskapen om den operativa risken, sett ur de svenska försäkringsföretagens perspektiv, och sättet till vilket ett givet förhållningssätt inverkar på riskhanteringsprocessen. Metod: Studien har genomförts i två steg. Den första delen har utgjorts av en dokumentstudie, vilken sedermera har fördjupats genom två fallstudier. Slutsats: Studien visar att det finns en mängd tolkningar av operativ risk, vilka sträcker sig från väldigt enklar till väldigt komplexa. Studien visar också att vissa företag inte hanterar sina risker med utgångspunkt i konceptet ”operativ risk”, utan antar en mer pragmatisk inställning till verksamheternas risker. Detta innebär att det finns ett gap förhållande till god praxis kring hanteringen av operativ risk, vilket kompenseras för genom en ökad verksamhetsförståelse och tillämpningen av metoder som inte nödvändigtvis associeras med riskhantering. / Background: Operational risk is a notion that has gained a lot of notoriety due to a number of scandals and bankruptcies within the financial sector. Every Swedish insurance company is obliged to manage its operational risks, and due to the impossibility of normalizing its specific content, it is up to the companies themselves to judge its extent. Many efforts have been made to conceptualize and explain this “fear category”, an effort that in many respects still lacks in consensus. Purpose: The purpose of this study is to increase the knowledge of what constitutes operational risk, from the perspective of Swedish insurance companies, and the way in which a particular view affects the risk management process.  Methods: This study has been conducted in two parts. The first part constitutes a cross-sectional study, which has further been expanded on by conducting a multiple case study, encompassing two insurance companies. Conclusion: This study shows that there are many interpretations of operational risk, ranging from very simple to very complex. This study also shows that some companies do not manage risks based on the concepts of “operational risk”, but from a pragmatic approach towards the business, meaning that some of the foundational good practices are not applied. However, this is mitigated by an increased understanding of the business, as well as the application of methods not necessarily associated with risk management.

Introductory chapter of the thesis is devoted to a major milestone in the history of insurance, i will focus on events that have significantly influenced and shaped the character development of insurance as we know it today. We will consider also the insurance situation in the Czech Republic in comparison with the European Union. This comparison should show the reader how much the reserve life insurance market in the Czech Republic, and which direction to go in the coming years. The financial crisis has affected all economic sectors. Unfavourable developments in the real estate market through banking instruments affected also global insurance market. Unit linked insurance is the most advanced form of life insurance. In many based on traditional types of life insurance, which is dedicated a separate chapter The most important chapter of my work is, as already apparent from the title of the thesis, dedicated to the unit linked insurance. We begin with the development and history, become familiar with the functioning and the most important features of unit linked insurance, we will also describe the commission system and system of operation charges, the operation of mutual funds in connection with the insurance and learn about the possible forms of indemnity. The last chapter is devoted to the methodology of Solvency 2, its role is similarly as it was in the banking sector by introducing a methodology of the Basel 2.