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In the 1880s Chancellor Otto von Bismarck introduced old age pensions, accident insurance and medical care that shaped the premise for Germany's welfare state.<br><br>Julia Kagan has written about private finance for more than 25 years and for Investopedia since 2014. The former editor of Consumer Reports, she is an skilled in credit score and debt, retirement planning, home ownership, employment points, and insurance. She is a graduate of Bryn Mawr College (A.B., history) and has an MFA in artistic nonfiction from Bennington College. The first insurance patent to be granted was together with one other instance of an utility posted was. This patent utility describes a technique for growing the ease of changing insurance firms.<br><br>The visioning step represents regarding 20% of establishing the roadmap, and the planning step represents 60% of the process and where a lot of the job is thought out. The final 20% represents the actual activity taken. 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