How did Insurance begin?

01:21 Mins Read

Beginning of insurance, its interesting history and its marketization.


"How did Insurance begin? Have you seen various celebrities endorsing insurance products on television, radio, internet and what not?
What urges people to buy this product?
Why is this considered necessity more than luxury in today's time? Insurance dates back to 3000-4000 BC. This is the era of Babylonians, King Hammurabi made this as the foundation stone of insurance by carving the law on Babylonian monuments. This was done to ensure no debtor is devoid of his belongings in catastrophic situations like disability, natural disasters, death, etc. It has evolved since then after entering different markets. Indian insurance market has its own phases. Indian insurance has not just revolutionised during but also before and after the independence. The term Insurance has evolved so much that everybody has a different meaning for it. Don't worry we are here to help you. Read about importance and journey of insurance on Smart Money by Angel Broking and put it to actionable use."

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