“Assurance companies sell what might happen tomorrow.

Historians sell what certainly happened yesterday.”

What is insurance?

The normal activities of daily life carry the risk of massive financial loss. Many persons are willing to pay a small amount for security against certain risks because that protection provides valuable peace of mind. The term assurance describes any measure taken for protection against risk.

When an insured undergo a loss or harm that is covered in the policy, the insured can collect on the proceeds of the policy by filing a claim, or request for coverage, with the insurance company. The company then decides whether or not to pay the claim. The recipient of any proceeds from the policy is called the beneficiary. The beneficiary can be the insured person or other persons designated by the insured.

A customer satisfaction appraisal shows which auto, home, health and life insurance companies have the most- influenced customers.

For best quality, companies were reviewed on five dimensions:

•             Customer service.

•             Claims satisfaction.

•             Value for price paid.

•             Percent who plan to renew.

•             Percent who would recommend the companies

Here are top 5 Insurance Companies Ratings:

1. American International Group
Country: united States, Market value: $172.24 billion

American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries. AIG companies give out commercial, institutional, and individual customers through one of the most general worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States.

2. AXA Group

Country: France, Market Value: $66.12 billion

In 1980, AXA did not exist. Over the next 20 years, the Group raised to become a major international player. (AXA) is a France-based holding company involved in the business of financial protection, insurance and asset management. The Company operates in three segments: Life & Savings, Property & Casualty Insurance and Asset Management. The Company's business involves the sale of savings policies, retirement accounts, and estate planning services, health insurance, car and home insurance.

3. Allianz Worldwide

Country: Germany, Market Value: $65.55 billion

Allianz is a German multinational economic services company headquartered in Munich, Germany. Its core business and focal point is insurance. As of 2010, it was the world's 12th-largest financial services group and 23rd-largest company according to a composite measure as well as the largest financial services company when measured by 2012 revenue.

The Allianz Group is one of the leading incorporated financial services providers worldwide. With nearly 155,000 employees worldwide, the Allianz Group serves approximately 75 million customers in about 70 countries. On the insurance side, Allianz is the market head in the German market and has a strong international presence. Its Allianz Global Investors division ranks as a top-five global active investment manager.

4. Manulife Financial

Country: Canada, Market Value: $50.52 billion

 Manulife Financial Corporation is a Canadian insurance company and financial services provider, with a head office in Toronto, Canada. The company operates in Canada and Asia as "Manulife Financial" and in the United States. It is one of the largest life insurance companies in the world by market capitalization. Manulife Financial is serving millions of customers in 22 countries and terrains world-wide. They provide financial shield and wealth management products and services, to individual and group customers in Canada, the United States and Asia. These products and services include individual life insurance, group life and health insurance, long-term care services, pension products, annuities, mutual funds and banking products. They offer reinsurance services, specializing in life retrocession and property and casualty reinsurance and provide investment management services company has approximately 26,000 employees.

5. GeneraLI Group

Country:   Italy, Market Value:  $45.45 billion

The Generali Group is one of the most significant participants in the global insurance and financial products market. The Group is leader in Italy Generali, found in 1831. In recent years, the Group has made a significant return to central-eastern European markets and has set up offices in the principal markets of the Far East, among which China and India. The company operates in Canada and Asia as "Manulife Financial”. It is one of the largest life insurance companies in the world by market capitalization, and has approximately 26,000 employees.