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What is Co-Insurance


Coinsurance is the process of dividing the insured risk among the various parties in general. Koasürans, which is a term that has been translated from French to our language, means "insurance together".



Insurance companies participating in a co-insurance are called co-drivers. One of the co-drivers conducts the actual risk inspection, pricing, arranges the policy, collects premiums, distributes the premiums to other co-drivers in proportion to their shares, deals with the damage inspection, collects the damage from the insurance companies and pays the insured. This co-driver, who undertakes major insurance transactions, is called a jeran. Jeran often gets a higher or equal share than other co-drivers. The main responsibility of the other co-drivers is to pay their share to the insured through a coin when the damage occurs.



Coinsurance is usually done with the aim of dividing large risks. For the insured, it has an important function of distributing the risk of being dependent on a single insurance company. In some project insurances, the involvement of the insurance companies of the capital groups in which the consortium members are included may be a result of the business partnership.



For the insurer, the main function of the coinsurance is that it provides the opportunity to participate in the insurance business of such a large risk that it cannot provide coverage on its own. For this reason, coinsurance is more common in risks with high insurance costs. So much so that if a large number of co-drivers come together, they may be under the risk conservation of the insurers, in this case the need for reinsurance is eliminated. For example, the need for reinsurance is largely eliminated by many entrepreneurs organizing through unions in insurance exchanges such as Lloyd's to provide insurance coverage. This enables insurers to reduce their reinsurance transaction costs.



In closed coinsurance transactions, the insured is unaware of the existence of a coinsurance. In this type of coinsurance, the insurance company transfers some of the risk to other companies without the customer's knowledge. Other insurance companies are not mentioned on the policy. However, in the event of a damage, the company will remain the sole legally responsible company. Closed coinsurance actually works as a form of optional reinsurance. However, instead of reinsurance companies, other insurance companies are partners in the guarantee.



These coinsurance transactions, which insurance companies currently do in a conventional manual way, are carried out digitally on-line via Thus, coinsurance transactions, which take days or even weeks, can be completed within hours.



Insurance companies and multiple agencies benefit from the “KOASÜRANS” module of the portal.

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