A conceptual framework for the relationship of human capital in the selection and classification of insurable risks

Abstract

Insurance companies rely mainly on human capital, which consists of knowledge, skills, and
experiences as well as abilities in selection and classification of insurable risks, because most of
them have many variables, which prompted the researcher to contribute to put (a conceptual
framework for the relationship of human capital in selection and classification of insurable risks),
with the aim of highlight the relationship between its variables, and emphasizing the importance of
human capital in insurance companies and investing in it, and organizations that seek to survive and
grow must take an interest in human capital by investing in it, which allows them to achieve what
want. The researcher reached a set of conclusions, including, the insurance companies do not
entrust the underwriting process to people from outside the company, but rather undertake it by
their employees and limit it to those highly experienced. The researcher also came out with a set of
recommendations, including, stressing the importance of carrying out the underwriting process by
highly experienced underwriters in every type of insurance.