Issues of security and safety of property are relevant for every citizen. Every day we risk our health, our lives, our real estate, our personal finances and our property.
How to fully compensate for the damage caused by unforeseen life circumstances? The correct answer is to insure with a reliable insurance company. But first let’s find out what such structures are and how they work. Insurance company – an organization that insures citizens and legal entities. The document confirming the fact of insurance is an insurance policy. The purpose of any insurance company is to make a profit. Therefore, each policyholder is required to pay an insurance premium. Even if the insured does not pay out of pocket, the employer does it for him.
The client pays for the confidence that in the event of an insured event, compensation will be paid to him in full. Because there are always more policyholders and contributions than insurance situations, the reimbursement is usually significantly higher than the cost of the policy. There is a redistribution of capital: those customers who have nothing happened, pay those who have an insured situation. All operations of insurance companies are regulated by current legislation.
Functions of the insurance company: formation of a monetary fund for payments to customers;
compensation for damage and material support of policyholders;
prevention of insurance situations and minimization of losses;
investing in insurance finance to increase profits;
financial and economic activities;
marketing, attracting customers and developing new markets.
Hundreds of companies of different levels and specializations operate in the modern insurance market. There are universal organizations ready to meet the exclusive needs of customers. There are specialized offices that deal only with transport or, say, compulsory health insurance.
Citizens and legal entities are given ample opportunities. They can choose the cheapest insurance or, conversely, use the services of an elite brand with appropriate rates. You can go to an office located next door, or insure yourself online.
In the following sections, we will help readers decide on the choice of company. However, we warn you in advance: there are no universal criteria for assessing the insurer. Be guided not only by the reliability and popularity of the company, but also your own goals and objectives. On what grounds can be classified insurance companies. Insurance companies are the main participants in the insurance market. These firms are engaged in the redistribution of funds, compensation and satisfaction of financial, property and material interests of policyholders.
There are several criteria for classifying insurance companies: consider the main ones. By form of ownership. Organizations differ in the form of ownership.
According to this criterion, companies are divided into:
state-owned companies that deal with socially significant risks directly affect the country’s economy and security;
government – non-profit structures operating within specific government programs;
private – firms with the legal status of commercial companies engaged mainly in voluntary insurance of citizens and legal entities;
instruments – companies with total capital formed by investors;
mutual insurance companies (MIA) – non-profit structures with a mutual fund.
Private insurance companies often belong to one owner or his family. Abroad, such firms are often owned by several generations of one family.
Many people know the private insurance company “Lloyd” (England). For more than three hundred years, this syndicate has been engaged in various types of insurance, attracting money customers with the level of service and reliability.
In the past, the company specialized in shipping, now the representatives of this organization insure, among other objects, body parts and health of celebrities – for example, the fingers of Keith Richards, guitarist “Rolling Stones”.
By the nature of the operations performed. According to this criterion, companies are divided into:
specialized – life, property, car insurance;
reinsurance – protection by one insurer of the interests of another;
universal – performing all types of insurance protection.
In the service area
On a territorial basis, companies are divided into national (operating throughout the country), regional (operating in specific regions), transnational (national and international).
By the size of the authorized capital
The size of the authorized capital is a relative concept, because companies do not stand still, but continue to grow. On this basis, organizations are divided into large, medium and small. Small companies operate mainly in the regions and are mainly engaged in specialized insurance.
How to choose a reliable insurance company – useful tips.
Choosing an insurer is a responsible measure that should be approached with appropriate training. The determining criterion when choosing an insurance company – its reliability. All other indicators are secondary. The main thing for the insured is to receive compensation on time and in full, otherwise the very meaning of insurance is lost. We present criteria for choosing an insurance partner.
We are checking the license. If the company does not yet have a well-known name on the market, it is necessary to check its license to find out if the company has an official work permit. We assess financial stability
The financial status of the company directly affects the timeliness and amount of payments. Checking the insurer’s money is easier than you think.
Pay attention to the assets of the enterprise, which includes cash investments and tangible assets. The more free funds a company has, the higher its solvency.
Also check the total payments, insurance reserves and the company’s profit for the year or quarter. We study customer feedback. Visit forums and thematic sites where clients of insurance companies exchange their views on the quality of service and other issues. If there are a lot of negative reviews about a company online, this is a worrying sign. But remember that the more popular the organization, the more enemies it has. And people are more willing to share problems than to write thanks.
We analyze the range of services offered by the company. Analyze the company’s services and study the direction of insurance. It is important to evaluate services in terms of complexity. The balanced structure of the insurance portfolio and the availability of a variety of products indicate a high level of the insurer.
We pay attention to the date of foundation. Here everything is simple – the more experience of the company, the more reliable it is. Long service life speaks of stability and stability of the firm. The organizations that have been operating in the insurance market for 10 years or more deserve the greatest trust.
We study the ratings. Rating – is a quantitative and qualitative assessment of the company. Use both data from reputable rating agencies and “people’s” ratings.
We listen to friends and acquaintances. First-hand reviews are the most valuable in terms of information and objectivity. If your friends have already used the services of specific companies and received payments, then you have a very good chance of success.