Introduction Understanding the Role of Claims in Insurance An insurance claim is the invocation of a promise. It is the mechanism through which policyholders receive compensation after experiencing a covered loss. Without it, insurance would be little more than a theoretical safety net. The Lifecycle of a Claim From the moment an incident occurs to … Read more
Introduction The Business of Risk Transfer At its core, insurance is a mechanism for transferring risk from individuals and businesses to a collective pool managed by a company. This process isn’t merely a public service—it’s a refined, complex business model grounded in the arithmetic of uncertainty and profitability. The Dual Objective: Profit and Protection While … Read more
Introduction Understanding the Role of Insurance Insurance is the societal safety net that cushions individuals and businesses against unforeseen perils. Whether it’s a health emergency, a vehicular mishap, or a structural fire, insurers promise financial restitution. Such immense responsibility demands vigilance, discipline, and above all—regulation. The Need for Oversight and Control Without structured oversight, insurance … Read more