Insurance is a means of protection from financial loss. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. The insurance transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer’s promise to compensate the insured in the event of a covered loss. The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insurer will compensate the insured. Technology can be the knowledge of techniques, processes, and the like, or it can be embedded in machines to allow for operation without detailed knowledge of their workings.
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Top Key Vendors in Market:
Xchanging plc, Insurance Technology Services, Patriot Technology Solutions, Sky Insurance Technologies, TIA Technology, Seibels, DXC Technology, Marias Technology, Inc, msg life ag, Hubio, Ventiv, Majesco
Types of Insurance are:
- Life Insurance or Personal Insurance.
- Property Insurance.
- Marine Insurance.
- Fire Insurance.
- Liability Insurance.
- Guarantee Insurance.
- Social Insurance.
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