CHAPTER 1 INSURANCE INDUSTRY-An overview The insurance industry provides protection against financial losses resulting from a variety of perils. By purchasing insurance policies, individuals and businesses can receive reimbursement for losses due to car accidents, theft of property, and fire and storm damage; medical expenses; and loss of income due to disability or death. Insurance business is divided into four classes : 1) Life Insurance business 2) Fire 3) Marine 4) Miscellaneous Insurance. Life Insurers transact life insurance business; the rest …showed first 75 words of 5093 total…

…showed last 75 words of 5093 total… trail, call center agents, representatives and brokers are freed up to focus on the more strategic activities--like servicing customers. Today's insurance companies certainly face a daunting challenge in maintaining and increasing their competitive edge. But by focusing on three key imperatives--gaining a unified enterprise view of customers, retaining customers with great service and controlling costs while expanding--insurance companies can turn challenges into strategic competitive advantage and enhance their long-term viability and profitability.