Insurance Industry Overview - Introduction

Welcome to the Primerli CZcams channel. In this video, we will share with you about the basics about how the insurance industry works. Let's check out this entire video. Please Subscribe / @primerli
How does the Insurance Industry work? This Insurance industry primer from Primerli is designed to help professionals learn about the industry in under an hour. This intro video covers the basics about how the insurance industry works. Later videos in the insurance series cover: What products exist, how they are made and distributed, and what are the roles of the key players etc.
The insurance sector is a subset of the larger financial services industry, which includes banks, brokerages, mutual funds, credit unions, trust firms, pension funds, and other similar entities. Traditional barriers between industries have largely vanished. Insurance firms and banks can sell mutual funds. Insurance is more stable than other industries during a recession. This is because, regardless of the economy, consumers and businesses want risk protection. Working for an insurance firm or an independent agency provides more job security than other businesses.
When you buy insurance, you provide the insurance company the cost of a prospective loss in exchange for a fee known as the premium. Insurance firms invest the cash safely so that they can grow and pay out when a claim is made. An individual's life and possessions are threatened by the risk of death, incapacity, or destruction. These dangers can lead to financial losses. Insurance is a reasonable strategy to transfer such risks to a third party.
The goal of the insurance sector is to decrease financial uncertainty and make unexpected losses tolerable. It accomplishes this by exchanging payment of a small, known fee-an insurance premium-to a professional insurer for the assumption of the risk of a significant loss and a guarantee to pay in the case of such a loss.
The learning concepts are created by a team of former top tier strategy consultants, in collaboration with industry veterans with decades of experience. Together, they collaborate with a production team to create highly engaging, entertainment-quality content.
Videos in the series include:
✅Insurance Industry Overview - introduction • Insurance Industry Ove...
✅ Insurance Industry Overview - Insurance Products • Insurance Industry Ove...
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Grow Your Knowledge of the Insurance Industry (Part 2): Insurance products
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[@millieil6510]

Crassus ran the insurance business in the Roman Republic. Definitely a long standing concept LOL