How Insurance Works

Allianz | Who Pays For Your Health Insurance? Oliver Bäte in interview with Jung & Naiv

This industry is of utmost importance
to the solidarity of a society. Concerning the topic of risk,
because today, we are all denying the subject of risk
– greetings from yesterday’s bomb attacks – it really is a problem that
our world is insecure and we need companies that
are helping us to succeed in dealing with
risks in our daily lives. Many people don’t
actually realize how sinister life would be without
businesses like insurance companies. I would like to give you
an example: I just returned from a Middle American country.
Car insurance there is officially obligatory, but only a third of the cars
are actually covered for accidents. So when a truck is rolling over
your feet and you’re walking to the hospital, you can
only be lucky to have a proper health coverage. Because it’s
the norm that the one who’s driving the car as well as
the owner aren’t insured. Imagine a world, where you’re
not sure who’s going to pay for your health insurance if
you’re involved in an accident. And this is why I think that
we have a really important role in our society that is
commonly taken to be a given.

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