text: what are the impotances of statistics for insurance?   statistic are important to the insurance companies, because they are in the business of selling insurance to protect people or events which are at low risk.they have to know statistically the potential of how many years a person is expected to live before selling him life insurance. the same thing applies to events. if you work in a job where you might get killed, or maimed easily, they are not going to sell you any insurance too quickly. they may jack up the ins. premiums to compensate for the high risk.