The transfer of the benefit of an insurance contract to an apparently unrelated third person is known as?

The transfer of the benefit of an insurance contract to an apparently unrelated third person is known as "assignment." In an assignment, the policyholder (assignor) transfers their rights under the insurance policy to another party (assignee), who then becomes entitled to the benefits of the contract. This process typically requires the consent of the insurer and may be subject to specific terms outlined in the policy.