The insurance industry is a large and complex sector that provides financial protection against loss or damage. It is composed of companies that provide a variety of insurance products, such as life, health, auto, property, and liability insurance. Insurance companies collect premiums from policyholders and invest them in order to generate profits. They also provide services such as risk management, claims processing, and customer service. The industry is highly regulated by governments around the world, and is subject to a variety of laws and regulations.