Perspectives of the development of life insurance in Georgia

Development of personal insurance is one of the most high-priority issues in Georgia at present. There are a number of problems which need to be taken into consideration by the insurance companies, on the one hand, and on the other, society should also try to realise how profitable insurance can be. The role of government is of no less importance, as far as it should be trying to create free business enviroment and in this way, encourge high competition in the insurance market. Health and life insurance policies enable people to hedge themselves against uncertain future.
This thesis describes and discusses the developing insurance system in Georgia and show the importance of individual insurance in this system.
Therefore, this thesis aims:
• to define the types of individual policies which the insurance companies offer to the customer and which of them is vital for the development of individual insurance in Georgia;
• to define the health and life insurance products and policies;
• to single out all the necessary conditions which will encourage the development of individual insurance in Georgia.