insurance firms

Insurance firms are companies that provide financial protection by offering policies that cover potential risks, such as accidents, health issues, or property damage. Customers pay premiums regularly, and in return, the insurer commits to compensating them or cover costs if the specified events occur. These firms manage the collective risk of their policyholders by pooling resources, setting aside reserves, and using statistical models to predict and prepare for future claims. Their goal is to offer peace of mind and financial security while balancing the costs of claims with premiums collected.