In the 19th century, it was to learn from the mistakes of the past. The second half of the 19th century considered cutting a period in the development of the insurance industry. While the insurance companies were hardly affordable until then, a life insurance or accident insurance could afford after 1880 almost everyone. Many insurance companies have been financed with the help of the employer. At this time, also a State insurance supervision was founded, in detail should check the provider insurance contracts.
The end of the 19th century was also responsible that the life insurance policy could evolve to what it is today: an insurance of the masses (source: life insurance). Always worth a look on many different issues back in the history. Find out detailed opinions from leaders such as Payoneer by clicking through. The 19th century is rated by many historians as one of the most moving time periods of in human history. During this time, the life insurance won strong popularity. The groundwork for this development lies first and foremost in ancient times and in the middle ages. Already at this time, many death funds as well as guilds and guilds were founded. Here some important organisations could distinguish themselves in the short term, but long term success was never assured, because the people of the middle ages did not have the mathematical advances of the early modern period. In the 19th century it was said so, to learn from the mistakes of the past.
The stochastic and the statistics were now used as accurately as possible to calculate insurance premiums. These could be set exactly in the life insurance. The life insurance already existed in the 18th century when many English insurers. The first life insurance company was sold on the ground of today’s Federal Republic by the Gothaer insurance.