Insurance Company Basics
An insurance company is an insurer who uses the form of company organization to conduct insurance business.
The business process of the insurance company
Insurance exhibition industry
Insurance exhibition industry is the behavior of insurance companies to guide people with similar risks to buy insurance. Insurers, through their professionals directly solicit business is called "direct exhibition industry", insurance companies through insurance agents, insurance brokers exhibition industry is called "indirect exhibition industry."
Business underwriting
By analyzing the risks, the insurer determines whether to underwrite, determines the premium rate and the underwriting conditions, and ultimately issues the decision-making process for the issuance of insurance contracts.
Insurance claims
The insurance company shall investigate the cause and loss of the accident and compensate the insurance company after the insured insurance accident has filed a claim for the insurance policy.
Classification of insurance companies
Insurers can classify this:
Life insurance companies, including life insurance, health insurance, injury insurance, and annuity insurance.
Property insurance companies, including fire insurance, marine insurance, travel insurance, land and air insurance, liability insurance, guarantee insurance and other insurance approved by the competent authorities.
Under the Insurance Law of the Republic of China, the two must operate separately. Therefore, some insurance companies set up a group of companies, under the independent accounting of life insurance companies and property insurance companies.
Reinsurance companies are insurance companies that spread and pass on the risks they take.
Debate
The Game between The Insurance Company and the Policyholder
In creating a "safety net" for policyholders, insurers inadvertently find that their insurers may not be as risk-averse as they should be (given that insurers consider the risk to be an insurance company), and in order to reduce spending, insurers provide through insurance provisions that they can reduce their liability if the risk of loss of the insurance mark is increased if the insured participates in or carries out some activity.
For example, the liability insurer does not provide the insurance required by the customer for liability arising from international tort. Even if the responsible insurer is irrational and tries to provide such protection, it is illegal to do so in violation of the policy that most countries do not allow such insurance to exist.
Of course, some people think that this is contrary to the original intention of insurance, although for insurance companies and the Government, this is a last resort.
Refusal of insurance
Denial of insurance is the fact that some insurance companies often refuse to provide insurance coverage in geographic areas or in some cases, often because of the risk increase in these places or these situations. These assessment requirements must be authentic or otherwise based on discrimination.
When insurers determine premiums or rates, measurable factors are taken into account in the assessment of risks, including geographical location, credit rating, gender, occupation, marital status, and education. Of course, the use of these basic elements, whether appropriate or not, is often treated as 'unfair' or racist by some clients, sometimes sparking political debate about how to determine premiums and even leading to government interference and restrictions on their use.
The opposite view in this regard is that the occupational characteristics of insurance practitioners determine that they are properly classified for the likelihood of a particular risk loss. Any element that theoretically increases the risk of loss will result in an increase in the rate. The basic principles of this insurance must be followed and operated correctly by insurance companies or insurance groups, even for non-profit organizations. Therefore, using legal factors to identify potential policyholders is the central content of insurance. So the only thing that is "unfairly" considered in the above-mentioned debate about discrimination is that a group is discriminated against because there is no real factor in the increase in risk. Therefore, it is necessary for the policyholder to exclude the elementdiscrimination of other policyholders by enduring the use of partially unacceptable factors.
Fail
If an insurance company is like any other limited company, failure does not guarantee customer confidence.
