What are the two primary sources of revenue for insurance companies?

"Underwriting profits and investment gains" "Policy premiums and government subsidies" "Commissions from agents and investment banking" "Interest income and dividend payouts"

What is the key difference between life insurance and general insurance in terms of obligations?

"Life insurance has short-term obligations, while general insurance has long-term obligations" "Life insurance has long-term obligations, while general insurance has short-term obligations" "Life insurance is regulated by IRDAI, while general insurance is not" "Life insurance is primarily offered by private companies, while general insurance is dominated by public companies"

Which sales channel leverages the extensive geographical reach of financial institutions to distribute insurance products?

"Direct sales" "Group insurance" "Bancassurance" "Plug-ins"

What is the primary function of reinsurance in the insurance industry?

"To increase insurance premiums" "To replace traditional insurance policies" "To provide coverage against unusually high-payout events" "To compete with primary insurance providers"

Why is diversification important for insurance companies?

"To maximize marketing reach" "To minimize the impact of localized risks" "To increase administrative efficiency" "To comply with international regulatory standards"