The insurance industry is a sector of the economy that provides risk management through the issuance of policies designed to protect individuals and businesses from potential financial losses. Insurance companies collect premiums from policyholders in exchange for coverage against specified risks, such as accidents, illness, property damage, or liability. The industry is comprised of various types of insurance, including health, life, auto, property, and commercial insurance. The primary function of the insurance industry is to offer financial security and peace of mind, allowing policyholders to mitigate the financial impact of unforeseen events. The industry is highly regulated to ensure solvency and protect consumers, with laws governing how policies are sold and claims are processed. Innovations in technology and changing consumer preferences are actively shaping the future of the insurance industry, leading to developments in areas like insurtech, underwriting practices, and customer service capabilities.
Major Changes Ahead for New Graduates Tokyo Marine & Nichido, a prominent player in Japan's insurance sector, is set to significantly boost the starting salaries for new employees next year.…