{"id":117,"date":"2021-11-08T01:34:14","date_gmt":"2021-11-08T01:34:14","guid":{"rendered":"https:\/\/www.vscomp.com\/wp\/?page_id=117"},"modified":"2021-11-09T18:51:41","modified_gmt":"2021-11-09T18:51:41","slug":"insurance-and-re-insurance","status":"publish","type":"page","link":"https:\/\/www.vscomp.com\/wp\/?page_id=117","title":{"rendered":"Insurance and Re-insurance"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"117\" class=\"elementor elementor-117\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-37f7ad7b elementor-section-full_width elementor-section-content-top elementor-section-height-default elementor-section-height-default\" data-id=\"37f7ad7b\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-211b2192\" data-id=\"211b2192\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-63067c29 eael-simple-menu-hamburger-align-right eael_simple_menu_hamburger_disable_selected_menu_no eael-hamburger--tablet elementor-widget elementor-widget-eael-simple-menu\" data-id=\"63067c29\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"eael-simple-menu.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<style>\n                        @media screen and (max-width: 1024px) {\n                            .eael-hamburger--tablet {\n                                .eael-simple-menu-horizontal,\n                                .eael-simple-menu-vertical {\n                                    display: none;\n                                }\n                            }\n                            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data-indicator-icon=\"&lt;i aria-hidden=&quot;true&quot; class=&quot;fas fa-angle-down&quot;&gt;&lt;\/i&gt;\" data-dropdown-indicator-icon=\"&lt;i class=&quot;fas fa-angle-down&quot;&gt;&lt;\/i&gt;\" class=\"eael-simple-menu-container eael-simple-menu--loading eael-simple-menu-align-left eael-simple-menu-dropdown-align-left preset-1\" data-hamburger-breakpoints=\"{&quot;mobile&quot;:&quot;Mobile Portrait (&gt; 767px)&quot;,&quot;tablet&quot;:&quot;Tablet Portrait (&gt; 1024px)&quot;,&quot;desktop&quot;:&quot;Desktop (&gt; 2400px)&quot;,&quot;none&quot;:&quot;None&quot;}\" data-hamburger-device=\"tablet\">\n                <ul id=\"menu-main\" class=\"eael-simple-menu eael-simple-menu-dropdown-animate-fade eael-simple-menu-indicator eael-hamburger-left eael-simple-menu-horizontal\"><li id=\"menu-item-86\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-home menu-item-86\"><a href=\"https:\/\/www.vscomp.com\/wp\/\">Home<\/a><\/li>\n<li id=\"menu-item-238\" class=\"menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children menu-item-238\"><a>About Us<\/a>\n<ul class=\"sub-menu\">\n\t<li id=\"menu-item-154\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-154\"><a href=\"https:\/\/www.vscomp.com\/wp\/?page_id=151\">What We Do<\/a><\/li>\n\t<li id=\"menu-item-143\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-143\"><a href=\"https:\/\/www.vscomp.com\/wp\/?page_id=82\">Mission<\/a><\/li>\n<\/ul>\n<\/li>\n<li id=\"menu-item-133\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-133\"><a href=\"https:\/\/www.vscomp.com\/wp\/?page_id=131\">Overview<\/a><\/li>\n<li id=\"menu-item-237\" class=\"menu-item menu-item-type-custom menu-item-object-custom menu-item-has-children menu-item-237\"><a>Products<\/a>\n<ul class=\"sub-menu\">\n\t<li id=\"menu-item-141\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-141\"><a href=\"https:\/\/www.vscomp.com\/wp\/?page_id=115\">Products Overview<\/a><\/li>\n\t<li id=\"menu-item-134\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-134\"><a href=\"https:\/\/www.vscomp.com\/wp\/?page_id=129\">Insurance and Re-insurance<\/a><\/li>\n\t<li id=\"menu-item-135\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-135\"><a href=\"https:\/\/www.vscomp.com\/wp\/?page_id=127\">Smart Cards<\/a><\/li>\n\t<li id=\"menu-item-139\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-139\"><a href=\"https:\/\/www.vscomp.com\/wp\/?page_id=119\">Airline<\/a><\/li>\n\t<li id=\"menu-item-138\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-138\"><a href=\"https:\/\/www.vscomp.com\/wp\/?page_id=121\">Hotel Reservation System<\/a><\/li>\n\t<li id=\"menu-item-137\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-137\"><a href=\"https:\/\/www.vscomp.com\/wp\/?page_id=123\">Consultation Services<\/a><\/li>\n\t<li id=\"menu-item-136\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-136\"><a href=\"https:\/\/www.vscomp.com\/wp\/?page_id=125\">Open Source Deployment<\/a><\/li>\n<\/ul>\n<\/li>\n<li id=\"menu-item-140\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-140\"><a href=\"https:\/\/www.vscomp.com\/wp\/?page_id=117\">Insurance and Re-insurance<\/a><\/li>\n<li id=\"menu-item-144\" class=\"menu-item menu-item-type-post_type menu-item-object-page menu-item-144\"><a href=\"https:\/\/www.vscomp.com\/wp\/?page_id=77\">Contact Us<\/a><\/li>\n<\/ul>                <button class=\"eael-simple-menu-toggle\">\n                    <span class=\"sr-only \">Hamburger Toggle Menu<\/span>\n                    <i aria-hidden=\"true\" class=\"fas fa-bars\"><\/i>                <\/button>\n            <\/div>\n            \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1fc20964 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"1fc20964\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5c8f30cd\" data-id=\"5c8f30cd\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2fb613c9 elementor-widget elementor-widget-image\" data-id=\"2fb613c9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"152\" src=\"https:\/\/www.vscomp.com\/wp\/wp-content\/uploads\/2021\/11\/vsLogo2-1024x152.png\" class=\"attachment-large size-large wp-image-296\" alt=\"\" srcset=\"https:\/\/www.vscomp.com\/wp\/wp-content\/uploads\/2021\/11\/vsLogo2-1024x152.png 1024w, https:\/\/www.vscomp.com\/wp\/wp-content\/uploads\/2021\/11\/vsLogo2-600x89.png 600w, https:\/\/www.vscomp.com\/wp\/wp-content\/uploads\/2021\/11\/vsLogo2-300x44.png 300w, https:\/\/www.vscomp.com\/wp\/wp-content\/uploads\/2021\/11\/vsLogo2-768x114.png 768w, https:\/\/www.vscomp.com\/wp\/wp-content\/uploads\/2021\/11\/vsLogo2.png 1350w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-125c6540 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"125c6540\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-7839073e\" data-id=\"7839073e\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-74c9e375\" data-id=\"74c9e375\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-45817364 elementor-widget elementor-widget-text-editor\" data-id=\"45817364\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h1 id=\"insurance_and_reinsurance\" class=\"sectionedit1\">Insurance and Reinsurance<\/h1><div class=\"level1\"><p>Insurance is a process where one (the insured) pays a monetary amount (premium) to another entity (insurance company) in exchange for protection from an uncertain event (the risk). It is a contract of indemnity between two entities, whereby the insurance company agrees to reinstate the insured or its business to the level it upheld when the damage\/loss occurred.<\/p><p>Similar to what an insurance company provides to the insured, reinsurance companies provide protection to insurance companies (the cedant) against events that might disrupt proper operations of the insurance company towards the insured. Basically reinsurance companies insure insurance companies.<\/p><p>Other players or layers also exist within the industry; insurance brokers, reinsurance brokers, and service provider like surveyors, third party administrators, and actuarial service providers to name a few.<\/p><p>In the upcoming articles, we will attempt to simplify the various concepts in order to ease the reader into more advanced topics and practices within the industry.<\/p><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-70a4c772\" data-id=\"70a4c772\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Home About Us What We Do Mission Products Products Overview Insurance and Re-insurance Smart Cards Airline Hotel Reservation System Consultation Services Open Source Deployment Knowledge Base Insurance and Re-insurance Overview Contact Us Insurance and Reinsurance Insurance is a process where one (the insured) pays a monetary amount (premium) to another entity (insurance company) in exchange [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"elementor_canvas","meta":{"footnotes":""},"class_list":["post-117","page","type-page","status-publish","hentry"],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.vscomp.com\/wp\/index.php?rest_route=\/wp\/v2\/pages\/117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vscomp.com\/wp\/index.php?rest_route=\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.vscomp.com\/wp\/index.php?rest_route=\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.vscomp.com\/wp\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vscomp.com\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=117"}],"version-history":[{"count":10,"href":"https:\/\/www.vscomp.com\/wp\/index.php?rest_route=\/wp\/v2\/pages\/117\/revisions"}],"predecessor-version":[{"id":456,"href":"https:\/\/www.vscomp.com\/wp\/index.php?rest_route=\/wp\/v2\/pages\/117\/revisions\/456"}],"wp:attachment":[{"href":"https:\/\/www.vscomp.com\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}