Industries · Financial services
Insurance: life, property and casualty, and health
How insurers collect premiums today and pay claims later, why the loss, expense, and combined ratios decide underwriting profit, how investment income and reinsurance work, how products reach customers, and how takaful works, with cases from the Gulf, India, Europe, Africa, and Asia.
Key takeaways
- An insurer is paid first and pays later. It collects premiums today, pays claims when bad things happen, and invests the money in between.
- An insurer's profit is premiums minus claims minus expenses, plus investment income.
- Insurance is local. Rules, products, and distribution differ by country, so ask early which country, which line, and which channel the case is about.
- Explain the three main lines of insurance and who buys them
- Calculate the loss ratio, expense ratio, and combined ratio, and add investment income
- Explain reinsurance and work out what an insurer keeps after a large loss
- Describe the main distribution channels and the takaful model
- Crack typical insurance cases, starting with the right ratio
Lessons
How insurance works and makes money
The three lines, the value chain from pricing to claims, where profit comes from, distribution, and takaful.
Insurance unit economics: the combined ratio at work
Build an insurer's profit from premiums, claims, expenses, and investment income, and see what reinsurance keeps off the books.
Insurance: players, trends, regulation, and how to crack the cases
Main insurers by region, what changed from 2024 to 2026, regulation basics, and typical case prompts with the first driver to check.
Worked cases in this module
Look it up
Key terms