Technology and competitiveness

In 1983 a classified program was initiated in the US intelligence community to reverse the US declining economic and military competitiveness. The program, Project Socrates, used all source intelligence to review competitiveness worldwide for all forms of competition to determine the source of the US decline. What Project Socrates determined was that technology exploitation is the foundation of all competitive advantage and that the source of the US declining competitiveness was the fact that decision-making through the US both in the private and public sectors had switched from decision making...

History of insurance

In some sense we can say that insurance appears simultaneously with the appearance of human society. We know of two types of economies in human societies: natural or non-monetary economies (using barter and trade with no centralized nor standardized set of financial instruments) and more modern monetary economies (with markets, currency, financial instruments and so on). The former is more primitive and the insurance in such economies entails agreements of mutual aid. If one family's house is destroyed the neighbours are committed to help rebuild. Granaries housed another primitive form of insurance...

Insurers' business model

Underwriting and investingThe business model is to collect more in premium and investment income than is paid out in losses, and to also offer a competitive price which consumers will accept. Profit can be reduced to a simple equation: Profit = earned premium + investment income - incurred loss - underwriting expenses.Insurers make money in two ways: Through underwriting, the process by which insurers select the risks to insure and decide how much in premiums to charge for accepting those risks; By investing the premiums they collect from insured parties.The most complicated aspect of the...

Technology

Technology is the making, usage and knowledge of tools, techniques, crafts, systems or methods of organization in order to solve a problem or serve some purpose. The word technology comes from Greek τεχνολογία (technología); from τέχνη (téchnē), meaning "art, skill, craft", and -λογία (-logía), meaning "study of-".[1] The term can either be applied generally or to specific areas: examples include construction technology, medical technology, and information technology.Technologies significantly affect human as well as other animal species' ability to control and adapt to their natural environments....