The Evolution and Future of the Insurance Industry

Insurance, as a concept, dates back thousands of years, rooted in the human need to manage uncertainty and risk. Some of the earliest recorded forms of insurance appeared in Babylon around 1750 BC. The Code of Hammurabi - one of the oldest legal documents - contains clauses that outline risk-sharing arrangements for merchants. These early agreements allowed traders to pay a premium in exchange for a guarantee that their loans would be forgiven if shipments were lost or stolen during a journey. This book explained history and corporate strategy in the insurance industry and how insurance would be developed after globalisation and AI.