Kon-Ticky'ing

Kon-Tiki: Name of the GOD for native people from Polynesian islands. Thor Heyerdahl, Norwegian explorer named the raft Kon-Tiki, which he used for his expedition across Pacific Ocean from South America to the Polynesian islands. His purpose of this expedition was to show that South Americans could have settled in pre-Columbian times using material & technologies available at that time. In my blog, I intend traverse the journey of connecting dots in the past & present. Reference: wiki

Tuesday, July 03, 2007

Insurance Premium

I have never thought about how a insurance premium is calculated for any person by any insurance company. All I was aware of this, is through my limited knowledge of the insurance policy I applied for couple of years back.

Now I am understanding how a statistical data collected over a period of time is essential for insurance companies to define their margin based on the probability of any given 'insurance policy holder' person's living.

By the way, thinking of the scale and structure of the insurance companies which provide insurance to the Aircraft, jets etc. What would be the insurance premium for such huge things and what would be the turn over of such insurance companies.

1 comment:

Anonymous1:40 pm
Interesting to know.
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