How does the market for insurance promote economy growth and investment?

Please provide the best answer for the statement.

Insurance transfers risk from those with low risk tolerance to those with a higher level. When there is a market for insurance those who dislike risk are able to purchase insurance to eliminate a portion of the uncertainty. This allows those with a low tolerance for risk to make investments in the construction and purchase of capital goods like houses and cars, while avoiding some of the risk of fire, theft, and other damages.