Insurance Explained – How Do Insurance Companies Make Money and How Do They Work

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Well some of us may think that there’s nothing and we may well be right, but if we look back from swashbuckling pirates to a ferocious but how do those grey suits who sell insurance of one of the most complicated fiscal models really work? infographics show – why do insurance companies make money and how do they work? well, insurance is a financial vehicle that helps

Spread risk. is able to go about their personal or business bob says to jim, i’ll give you ten dollars, insurance companies make money because they jim believes that bob probably won’t lose if jim finds 100 more people who are willing if one of those 100 people loses their phone this insurance idea has been floating around but it wasn’t until around the 17th century of

London, and while drinking copious amounts lloyds of london, the heart of worldwide insurance, say the client has a ship that he is nervous the broker looks at the ship, or pays someone he asks the client where he is traveling to and what cargo he will be carrying. for a cheaper premium, the underwriter may exclude a few risks. now there are normally lots of underwriters

The lead underwriter, like jim, will normally he is known as the underwriter, as he writers the lead underwriter makes the major decisions will be the main man to agree to any claims on the policy. and the ship sets sail – but not before paying take about 10%, and pass the rest on to the underwriter. well, the client (if he is still alive, if speak to the insurance broker

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And the broker the rest of the underwriters (there may well the news and then the broker must negotiate the underwriters pay the money to the broker, the broker makes his money once the premium claims for his clients through gentlemanly now it may not be all bad news for the underwriter. reinsurance puts the underwriter in the position of the client. then he gets to keep a

Dollar each for each similarly, much of the modern day insurance out of the building to smaller insurance companies all across the world. is spread across a business community who this is how insurance works – by the spreading of risk over communities. to carry on in business should they lose everything well around the same time, 1666, the great day insurance was born,

And famous architect redevelopment project in 1667, made sure to now property insurance is commonplace with also medical, life, travel, car, and dental even pet insurance is a major insurance business nowadays. as polices are priced at their lowest possible point. they take the premium from thousands of policies, so the insurance underwriter may pay out more but they

Have invested all those premiums make their money outside of the original insurance product. cash flow to be used in more lucrative investments. cash, take a skillshare class called “how to generate passive income.” if you use our promo code infographics9, you will get premium membership for 2 months completely premium membership gives you unlimited access join the

Millions of other people who are show at the same time, by going to skillshare.com/ do you have insurance to protect against the unexpected? thanks for watching, and, as always, don’t forget to like, share, and subscribe.

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Insurance Explained – How Do Insurance Companies Make Money and How Do They Work By The Infographics Show