General insurance What are the benefits of insurance companies

[Phabbyfundz]

The goals of every insurance company I'd to correlates rates for insurance policies as closely as possible with the actual cost of claim. If insurers set rates too high they will lose market shares to competitors who have more accurately matched rates to expected cost. If they set rates too low they will lose money this continued search for accuracy is good for consumers as well as insurance companies. The majority of consumers benefit because they are not subsidizing people who are worst insurance rates.
People who are more likely to file claims than they are.
The computerization of data has led to a more accuracy, speed and efficiency of businesses of all kinds. In the insurance arena credit information has been used for decades to help underwriters decide whether to accept or decline application for insurance. New advances in information technology has led to the development of insurance scores which enables insurers to better assess the risk of future claims.

 

[Chibson]

Insurance companies has a lot of benefits and people that have contracts with them benefit a lot because there may be times of uncertainty. They hope that they are covered is something so special, and a lot of individuals has been saved financially and mentally because of the premiums they have with insurance companies.

 

[btaliat]

There are many benefits that the insurance can gain for being a risk saver. As we all know that insurance as well is a profit oriented, they aim at making money. They provide employment for people hereby helping the economy. As well they provide technical advice for their customers most time.

 

[Wisdom01]

Insurance have so many importance attached as you could get coverage for the risk you are insuring against , that is the reason many actually go for an insurance cover , and also you could act as agent to an insurance company and earn commission when you bring in client for the insurance company

 

[Mandy96]

Insurance companies do have many benefits but one has to be careful which type to choose so as to avoid any disagreement or controversy later in the future. Having being insured is like having a shield covering you from losing out if anything happens to what you insure. It goes a long way beyond explanation

 

[btaliat]

The only person that will enjoy to the maximum best is the best that chooses the right insurance policy. Most people thay do complain about the insurance and how it works are those people that do not really how how the insurance works or those that choose the wrong insurance policy.

 

[Wisdom01]

Insurance companies do have many benefits but one has to be careful which type to choose so as to avoid any disagreement or controversy later in the future. Having being insured is like having a shield covering you from losing out if anything happens to what you insure. It goes a long way beyond explanation

Yeah it's like having protection or cover on what you are insuring against , people actually go for insurance policy incase of any unexpected event or circumstances happens to their property or value thing , they won't be so bothered knowing fully well that they would get the maximum coverage for such thing too