What is insurance?

- Provide compensation to the insured or policyholder due to loss, damage, costs incurred, loss of profit, or legal liability to a third party that the insured or policyholder may suffer due to an uncertain event; or
- Provide payment based on the death or life of the insured with the benefits of which the amount has been determined and/or based on the results of fund management.
- Insurance services or risk management.
- Risk reinsurance.
- Marketing and distribution of insurance products or sharia insurance products.
- Consultation and insurance broking, sharia insurance, reinsurance, or sharia reinsurance, or
- Insurance loss appraiser or sharia insurance.
1. Insurance Company:
- General Insurance Company is a company that provides risk insurance services that provide compensation for losses, damages, costs incurred, lost profits, or legal liability to third parties that the insured or policyholder may suffer due to an uncertain event.
- Life Insurance Company is a company that provides services in dealing with risks that offer payments to policyholders, the insured or other entitled parties in the event that the insured dies or remains alive, or other costs to the policyholder, the insured, or other parties entitled to the specified time as stipulated in the agreement, the amount of which has been determined and/or is based on the results of fund management.
- Reinsurance Company is a company that provides services in reinsurance against risks faced by a Loss Insurance Company, Life Insurance Company, Guarantee Company, or other Reinsurance Company.
- Insurance Brokerage Company is a company that provides intermediary services in closing insurance or sharia insurance and handling the settlement of insurance compensation by acting in the interest of the insured.
- Reinsurance Brokerage Company is a company that provides intermediary services in reinsurance placement and handling of reinsurance compensation settlement by acting in the interest of insurance companies, guarantee companies, reinsurance companies.
- Insurance Loss Appraisal Company is a company that provides services for assessing claims and/or consulting services for insured objects of insurance.
Type of insurance company
1. General insurance companyThe general insurance company is a company that provides risk coverage services that offer compensation for losses, damages, costs incurred. Then the loss of profits or legal liability to third parties that the insured or policyholder may suffer due to an uncertain event.
Read also: Find health insurance after read What is insurance? by ITI190 -Insurance Top Info 190.
2. Life insurance companies
A life insurance company is a company that provides services in dealing with risks that offer payments to policyholders, the insured, or other entitled parties if the insured dies or remains alive. Or other expenses to the policyholder, the insured, or other entitled parties at a certain time as stipulated in the agreement, the amount of which has been determined and/or is based on the results of fund management.
3. Reinsurance company
The insurance reinsurance company provides services in reinsurance against risks faced by general insurance companies, life insurance companies, guarantee companies, or other reinsurance companies.
Insurance supporting company
1. Insurance brokerage companyAn insurance brokerage company is a company that provides intermediary services in closing insurance or sharia insurance and handling insurance compensation settlement by acting in the interest of the insured.
2. Reinsurance brokerage company
Insurance reinsurance brokerage company is a company that provides intermediary services in reinsurance placement and handling of reinsurance compensation settlement by acting in the interest of insurance companies, guarantee companies, reinsurance companies.
3. Companies that assess insurance losses
An insurance loss appraisal company is a company that provides appraisal services for claims and/or consulting services on the insured object of insurance (the definition of insurance or what insurance is).
What is insurance? by ITI190 -Insurance Top Info 190.