Insurance. Everyone has something to say about this invention but until you really need it, you tend not to appreciate it.
No one likes paying insurance premiums but it is what keeps us from utter destruction in times of need.
I remember when there was no law requiring drivers in the U.S. to have auto insurances. It was only strongly suggested to have it mostly because it protects you and because it is the right thing to do.
Assessing risk in the insurance industry is known as underwriting. Underwriters collect data to predict the likelihood one of those who they are insuring will make a claim. This process leads to billions in profits but when the actual loss occurs, billions could be paid out.
Good examples are weather-related losses and wildfires.
Many people are concerned about home insurance and car insurance.
You can compare car insurance by clicking on the underlined words in this sentence. It is good to compare prices because we all want to get the best deal we possibly can.
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