research a global business or an organization of your choice

research a global business or an organization of your choice. Next, analyze the overall effect of global competition on the business or the organization that you researched. Suggest one (1) strategy that the business leader can use in order to improve business competition and efficiency.

Solution

Insurers can be of various types according to their legal constitution: corporations, mutual, cooperative and mutual welfare. These social forms are legally recognized in Spain to practice insurance business. However, they all share the essential features to sell insurance.

The insurance companies can operate in one or multiple branches (accidents, automobile, fire, liability, etc.), but always with the necessary authorization from the regulator.

The classification by classes is essential to sort risks, separating them into groups with common characteristics for treatment and assessment is adequate. To achieve greater accuracy, the branches are usually subdivided into modalities that group related risks.

The State, to ensure correct operation of the activity, regulates other characteristics of insurance undertakings as are its economic dimension, the exclusivity of its business, its financial security and solvency, specialized training for people in the sector, etc. ; while also controls, monitors and supervises the operation of particular insurance companies.