The answer to this question is C. The buyer must also gain; Mutual gain provides the foundation for exchange.
Answer:
I believe all of the above
Explanation:
went with what came to mind if its wrong very sorry.
To decide how much an insurance policy should cost a customer, underwriters use: Data analytics.
Data analytics can be defined as the systematic computational collection, modelling and analysis of raw data, in order to discover trends, patterns, and draw conclusions about the information that are contained in the data.
An insurance policy can be defined as a contractual agreement between an insurer and an insured (policyholder), in which the claims, terms and conditions binding on both parties are listed in details.
Thus, it is a contract in which an insurer indemnifies an insured (policyholder) against losses in the event of certain dangers or problems.
Underwriting refers to a process through which an insurer determines the risks of insuring a customer and establishing the required cost (price).
Basically, underwriters use data analytics to predict risk levels and determine how much an insurance policy should cost a particular customer. Some examples of the data used by underwriters are:
- Historical industry trends.
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A risk is behind the uncertainty that means situation when there is more than one possible outcome to decision and where the probability of each specific outcome is not know.
<h3>What is a
risk?</h3>
This refers to the chance either high or low that any hazard will actually cause somebody harm.
For instance, the act of working alone away from your office can be a hazard and the risk of personal danger may be high.
It is true that uncertainty that means situation when there is more than one possible outcome to decision and where the probability of each specific outcome is not know, but a risk is behind tne situation.
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