The accountant's job in an insurance company is to record all business transactions according to the principles and practice of accounting followed in the insurance industry, with the object of showing the results of the business (profit or loss) and also to show the true financial position (assets and liabilities) of the company. The accounting must be in compliance with various laws such as the Companies Act, Income Tax Act, Financial Services Act 2013 etc.

The accountant needs to be qualified and must have experienced in this specialized field. Almost all, insurance companies use computers for their accounting and therefore most personnel in the accounting division are required to possess sufficient and good working knowledge of computer operations in relation to accounting.