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I think insurance is a large business based on community holding each other in the matter of lost or damage, helping each other in when disaster happen.
but in my opinion it should be operated by non profit organizations so can do what supposed doing, not to earn profits from the proces.
I think they are necessarious. Some insurances are not important but others such as the driving insurance, working accidents insurances, etc. are a MUST. It bothers to pay when nothing happens but when you need it and helps you, then you think it's been worth to pay that money.
The Insurance company is a business entity play a vital role in the internal economy besides bulidind good relationship with companies abroad through the process of the reinsurance without which the insurer or direct insurance company can't operate.
The insurance company by insurance practising and operations provide a great services to their clients in term of indemnity and compensation.
Therefor insurance & reinsurance markets represent co-operation and Takafoul in a deepest , highest , best and accurate way.
Thanking You.
Insurance companies are type of shopping malls, where people with equal type of risks, come together under one roof. On behalf of them, the insurance company creates a pool by the contribution of premiums from those individuals and indemnifying the sufferers from the agreed risk. At last collecting a part of the premium as the company’s profit and earning.
Insurance companies ideally needs to close the link between the clients and the consumers in every industry possible. They are the bridging gap which if not covered can lead to a disaster interms of market collapse, frauds, and various other socio-economic cases.
cover of your risk
making money if you a good manager
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