What this means in the insurance context is that if you offer insurance policies you will tend to attract people who are higher risk.

保险中选择性偏差的意思是,如果你提供某个险种,吸引的是承受该险种风险较大的人群

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Both of these were ideas that were copied all over the world-- that's the way inventions are-- so a lot of insurance policies today have cash values.

以上两个点子后来在全世界被广泛使用,这就是创新,所以现在的很多保单都是有现金价值的

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In Renaissance Italy they started writing insurance policies-- I read one of the insurance policies, it's in the Journal of Risk and Insurance-- and they translate a Renaissance insurance policy and it's very hard to understand what this policy was saying.

在文艺复兴时期的意大利,人们开始编写保单,我看过其中一份,刊登在《风险和保险杂志》上,他们翻译了一份文艺复兴时期的保单,但是很难理解那份保单到底想说什么

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Let's talk about life insurance-- and we're talking about kinds of policies that are around today.

不妨先讲述下寿险,我们讨论的是几种常见保单

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There's still substantial insurance risk because the-- it could easily be only 15% or it could be 25% of the policies that end up paying.

这其中仍然存在一定的保险风险...,最后可能只有15%需要赔付,或者25%需要赔付

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Insurance pools risks like life risks or fire risks by writing policies to individual policyholders.

保险业分散风险是通过,与个人签订保险合同,比如寿险合同,或者火险合同

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So, the insurance company with one hundred policies would have still substantial risk.

所以签了100份保单的保险公司,仍然面临一定的风险

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