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 singlehandedly or in conjunction with other firms.
- They also provide job opportunities to people in the society
- They also encourages industrialist to invest in big business ventures.
- They also soften the effects of financial losses to businessmen.
- They also provide vital service to commerce and industries.
- They help in covering a lot of risk for millions of individuals.