Non-life insurance

NACE v2.1 Code: L65.12

About non-life insurance

NACE code 65.12 covers the non-life insurance industry, which plays a vital role in the broader economy. This sector provides a range of insurance products, such as property, liability, and accident coverage, to both individuals and businesses. By managing and mitigating various risks, the non-life insurance industry helps to promote economic stability and growth, enabling individuals and organizations to engage in productive activities with greater confidence.

Production process

The core production technique in the non-life insurance industry involves the underwriting process. This involves carefully assessing the risks associated with potential policyholders, determining appropriate premium rates, and establishing the terms and conditions of the insurance contracts. Actuarial analysis, data analytics, and risk modeling are essential tools used by insurers to price their products and manage their portfolios effectively.

Production inputs

The non-life insurance industry relies on several key inputs, including a pool of skilled underwriters, actuaries, and claims adjusters; a robust data infrastructure to collect and analyze risk information; and a strong regulatory framework to ensure the industry's stability and consumer protection. Additionally, the industry requires access to capital markets to fund its operations and manage its risk exposures.

Production outputs

The primary outputs of the non-life insurance industry are the insurance policies and related services provided to customers. These outputs can be consumed by a wide range of other NACE codes, including 68.20 Real estate activities, 77.11 Renting and leasing of cars and light motor vehicles, and 86.10 Hospital activities, among others. By transferring and managing risks, the non-life insurance industry enables these other sectors to operate with greater confidence and resilience.

Revisions to 65.12

Classification codes are adjusted frequently. The code may have been revised or replaced between system versions. The table below shows the history (newest to oldest) of the code 65.12. The most recent 1 version of this code (65.12) is in the NACE v2.1 system (this version):

This page shows the most recent version of code 65.12.

Older versions

Family tree for non-life insurance

    graph LR
    A["<a href='/classifications/nace/v2-1/L'>L: FINANCIAL AND INSURANCE ACTIVITIES</a>"]
A --> B["<a href='/classifications/nace/v2-1/L/65'>65: Insurance, reinsurance and pension funding, except compulsory social security</a>"]
B --> C["<a href='/classifications/nace/v2-1/L/65/1'>65.1: Insurance</a>"]
C --> D["<a href='/classifications/nace/v2-1/L/65/12'>65.12: Non-life insurance</a>"]

    C --> E["<a href='/classifications/nace/v2-1/L/65/11'>65.11: Life insurance</a>"]

    

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