Non-life insurance

NACE code 65.12 covers the non-life insurance industry, which plays a vital role in the broader economy by providing protection against various risks and uncertainties. This industry offers a wide range of insurance products, such as property, liability, and accident coverage, to both individuals and businesses. By managing and distributing risk, the non-life insurance sector helps to promote economic stability and facilitate investment and growth across numerous other industries.

The core production technique in the non-life insurance industry involves the underwriting process. This involves carefully assessing the risk profile of potential policyholders, determining appropriate premium rates, and establishing the terms and conditions of the insurance contract. Actuarial analysis, data modeling, and risk management strategies are essential tools used by non-life insurers to price their products and manage their overall risk exposure.

The non-life insurance industry relies on several key inputs, including a pool of skilled underwriters, actuaries, and claims adjusters who possess specialized knowledge and expertise. Additionally, the industry requires access to robust data and analytical tools to assess and price risk accurately. Significant financial resources, such as investment capital and reserves, are also necessary to support the industry's operations and fulfill its obligations to policyholders.

The primary output of the non-life insurance industry is the provision of insurance policies that protect individuals and businesses from a wide range of risks, such as property damage, liability claims, and personal accidents. These insurance products are consumed by a diverse range of NACE codes, including 68.20 Real estate activities, 45.20 Maintenance and repair of motor vehicles, and 10.11 Processing and preserving of meat, among many others.