What is the role of insurance companies?

The idea of ​​insurance is that the entity providing the service guarantees you compensation for any future risk that may befall your vehicle by paying the value of the insurance subscription fees, and thus you become a beneficiary of the service as an insured, so insurance companies play an important role in the reassurance and confidence of society, as the competent authorities cannot To allow any insurance company whose financial position is at risk to provide its insurance services, and often insurance companies have high financial solvency in their financial position, because the importance of this lies in their willingness to bear the value of claims and compensation that befalls the insured from damages and losses at any time immediately after the occurrence of the accident. The insurance companies provide a fertile insurance environment for the insured to benefit from the services provided by the car Insurance. The insurance company also gives the insured confidence in driving safely and comfortably as a result of the presence of a concerned party concerned with compensating the insured as a result of any danger that might befall him from others or as a result of a mistake he made. And herein lies the importance of the existence of insurance companies, as this is their main activity, which aims to provide insurance services that are in accordance with the system in Saudi Arabia, and some people misunderstand the true meaning of car insurance and believe that the money that they spend in paying insurance premiums is a loss and a financial burden for them. extra on it. On the contrary, subscribing to this type of insurance helps to avoid more heavy financial burdens in the event of a traffic accident, due to the importance of the role that insurance companies play in society. The competent authorities, for their part, intervene in regulating the work of insurance companies, whether in terms of the legal form of these companies, or the manner in which their funds are managed. Insurance companies also preserve stability between vehicle drivers, as the vehicle driver is reassured while driving that in the event of any danger - God forbid - the insurance company will protect him or protect others from him, and this does not mean that the vehicle driver is negligent to drive with caution and focus, Whereas, the investigation is carried out by an employee who resulted from any intentional accidents or whose primary goal is to gain from the insurance company or others Insurance companies are among the most important financial establishments, as they specialize in managing the movement of funds and take money as a basic field for dealing, so they collect money from policyholders, and these funds form sufficient reserves and allocations to meet the obligations of the insured while striving to preserve and develop these funds, and achieving this depends on the extent The company's success in defining a successful policy for managing these funds in order to achieve an appropriate return in light of the lowest levels of risk, and the insurance companies, in cooperation with the concerned authorities, define applicable laws and rules that limit the occurrence of traffic accidents, as the insurance company has an important role in defining comprehensive rules Insurance or not, and the exceptions that the insurance does not cover the insured individual. If we assume that you, as a vehicle driver, violated the rules agreed upon in the insurance policy and the risks that the insurance company covers for you as an insured, then your insurance may not cover you. Insurance is important in our lives, and insurance companies are working on an important and great contribution to the development of this sector and the application of best practices that are in the interest of the insured and society. The presence of professional insurance companies such as insurance companies in Saudi Arabia gives the insurance market a kind of maturity and distinction at the time.