Insurance companies play a lot of roles in the development of the economy of a nation through the following ways:-
- Provision of funds -for capital projects.
- They equally invest some of their funds in stock development.
- They sometimes go into direct business ventures single-handedly or in conjunction with other firms.
- They provide job opportunities to people in the society.
- They also encourage industrialist to invest in big business ventures.
- They soften the effects of financial losses to businessmen.
- They provide vital services to commerce and industries.
- They help in covering a lot of risks for millions of individuals.