Commonwealth Life Perusahaan Asuransi Jiwa Terbaik Indonesia insurer uses actuarial science to quantify the risks they assume. Actuarial science uses mathematics, especially statistics and probability, which can be used to protect risks to estimate the claims at a later date with a reliable accuracy.
For example, many people buy homeowner's insurance policy, and then they pay premiums to an insurance company. If the loss of the protected case, the insurer must pay the claim. For some of the insured, the insurance benefits they receive much greater than the money they have paid to the insurer. Others may not make a claim. When are averaged from all policies sold, total claims paid out less than the total premiums paid to the insured, the difference is the cost and profit.
profits of insurance companies
Insurance companies also benefit investment. It is derived from the investment of premiums received until they have to pay the claim. This money is called "float". Insurers can benefit or loss from price changes and interest rates float or dividends on the float. In the United States, lost property and deaths recorded by the insurance company was U.S. $ 142.3 billion in the five years ending in 2003. But the total profit in the same period was U.S. 68.4 USD billion, as a result of the float.
The basic principle of insurance
In the insurance world there are six basic principles that must be met, namely:
* Insurable interest right to insure arising out of a financial relationship, between the insured and the insured is legally recognized.
* Utmost good faith An action to disclose accurately and completely, all facts material (material fact) about something that will be insured, whether requested or not. The meaning is: the insurer must honestly explain everything clearly about the extent of the terms / conditions of the insurer and the insured must also provide a clear and accurate description of the object or the interests of the insured.
* Proximate cause means the active, efficient cause of events which lead to a result without the intervention of a force started and working actively from a new and independent source.
* Indemnity A mechanism by which the insurer to provide financial compensation to place the insured in the same financial position he was in prior to the loss (Commercial code article 252, 253 and reaffirmed in Article 278).
* Subrogation transfer of demand from the insured to the insurer after the claim is paid.
* Contribution Rights insurer to insurer invite other equally bear, but do not have the same obligations to the insured to help provide indemnity.