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Before you opt for insurance you need to understand how insurance companies carry their whole process. To understand that the article has provided a detailed explanation of Insurance Companies Business Model based on internet research and talking with some people those are experts and work on the insurance professional field. Let's breakdown the model in components:

1) Underwriting and investing

We can say that the Insurance Companies business model is to bring together more value in premium and investment income than the value that is expended in losses and at the same time to present a reasonable price which the clients will accept. Have  a look at, to know more about insurance companies.

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Image result for car inmsurance

2) Claims

The actual "product" paid for in insurance companies industry are the claims and loss handling as we can call it the materialized utility of insurance companies. The Insurance Companies representatives or negotiators can help the clients fill the claims or they can be filled directly by the companies.

3) Marketing

Insurance Companies use negotiators and representatives to initiate the market and underwrite their clients. These negotiators are bond to a sole company or they are freelancers, which mean that they can rules and terms from many other insurance companies. It is proven the accomplishment of Insurance Companies goals is due to dedicated and tailored made services supplied by the representatives.