The Insurance Company and Its Insurance Technology
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Whereas Chaps. 3 and 4 revolved around demand for insurance, the focus of Chaps. 5 and 6 is on the insurance company (IC). Up to this point, the IC has been depicted as passive, its activity limited to charging a (fair) premium. However, an IC pursues objectives and has a host of instruments at its disposal for reaching them. The set of these instruments will be called insurance technology; it ranges from the design of products (for instance, exclusion of certain risks, “small print” in the contract) to providing services (advice regarding prevention, consumer accommodation, the settlement of claims) and on to the purchase of reinsurance and choice of strategy for capital investment.