Introduction to Insurance and full detail

Importance of Insurance
Insurance plays a crucial role in mitigating financial risks and providing peace of mind to individuals and businesses. It ensures that unexpected events do not result in catastrophic financial losses, allowing people to focus on their daily lives hugo insurance without worrying about potential disasters.
How Insurance Works
my insurance manager operates on the principle of risk pooling, where a large group of people contributes premiums to a common fund. This pool of funds is then used to compensate those who experience covered losses. Insurance companies use actuarial analysis to determine the likelihood of certain events occurring and set premiums accordingly.