Glossary of Insurance Industry Terms
Insurance terminology can be confusing and sometimes counterintuitive. Bookmark this handy page to navigate some common insurance terms and jargon.
Acceptance Terms
Accident
Accounts Payable
Accounts Receivable
Actuary
Adjuster
Adviser
Agreed Value
Apportionment
Broker
Claim
Claims Ratio
Client Tasks
Client Portal
Commission
Cover
Dashboard
Declined
Deductible
Debtors
Depreciation
Document
Document History
Endorsement
Estimate
Event
Excess
Exclusion
Expense
First Notice of Loss (FNOL)
Group Insurance
Indemnify
Indemnity Value
Insurance full claims management solution
Insured
Insurer
Insurtech
Intermediary
Internet of Things (IoT)
Lapse
Liability
Loss Adjuster
Market Value
No-Fault/No Excess
Pay How You Drive Insurance
Period of cover
Policy
Policyholder
Policy Document
Policy Schedule
Pre-existing medical condition
Premium
Premium Rate
Renewal
Sum Insured (also called "cover" or "benefit")
Telematics Insurance
Term
Total Loss
Third-Party
Underwriter
Unearned Premium
Underwriting Agency
Usage-based insurance
