Hello and welcome to exampundit. Here is a brief article on the life of an Insurance Assistant by our own Nisha Gautam.
- Insurance : an agreement where customer pays premium and the company compensates him/her for the loss if occurs. Also insurance means losses of some shared by many. (Premium sab log bharte hain but claim sirf kuchh log karte hain)
- Premium : An amount a customer pays to the company in return of the claim if occurs.
- Underwriting : Analysis and evaluation of risks. Practical terms mein underwriting is done in operating offices and not Regional office.
- Claim : Amount which the company pays to the customer if any accident occurs.
- Policy : Issued to a customer after underwriting and premium collection.
- ICR, Solvency Ratio : These are the terms from which the performance of the company is evaluated.