1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
nikitadnepr [17]
3 years ago
15

to decide how much an insurance policy should cost a customer, underwriters use ________, such as historical industry trends and

loan characteristics, to predict risk levels.
Business
1 answer:
GenaCL600 [577]3 years ago
3 0

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:

  • Loan characteristics.
  • Historical industry trends.

Read more: brainly.com/question/1790872

You might be interested in
What kind of structures must a cell have that would be analogous to a modern business?
Elanso [62]

Answer:

I might be wrong but I beleive the answer is cytoskeleton

6 0
3 years ago
Assume the average annual CPI values for 2017 and 2018 were 207.3 and 215.3, respectively. What was the percent increase in the
Vesna [10]

Answer:

quizlet answers

Explanation:

here

5 0
2 years ago
2. What kind of good is it? Determine whether each of the following goods is a private good, a public good, a common resource, o
erastovalidia [21]

Answer:

1- A cabana along a beach that is open to the public --- Common resource

2- A new drum set for you to play in your friend's band --- Private good

3- A large, beautiful statue in a town square --- Public good

Explanation:

1- Common resources are goods that are not excluded, but are rival. Not excluded means that no restrictions can be imposed on the use, such as paying a price, for example because there is no personnel or technical provision available to enforce this.

2- Private goods are defined as goods that are excluded and rival. Private goods are the opposite of public goods.  

Excluded means that some consumers can be excluded from the use of this good. For example: Someone has bought a good and decides who uses the good.  

In turn, rival means that, if used properly, it cannot be consumed again or simultaneously by others.

3- A public good is a commodity or service characterized by two basic characteristics: non-rivalry and non-excludability.

Non-rivalry means that a person's consumption of a commodity does not affect the quantity or quality of the same commodity that another person can consume.

Non-excludability means that it is impossible to exclude anyone from the consumption of an item (for example, because it did not pay for the item). Goods that hold only one of the properties are called semicollective goods, while the goods that possess both properties are called genuine collective goods.

5 0
3 years ago
In dual agency, which duty would be the easiest to carry out for both clients?
Lena [83]
In dual agency, which duty would be the easiest to carry out for both clients? Care. In business law, care means that the person who is licensed will carry out their duties to the best of their ability and competently. 
5 0
3 years ago
A group of processes that seeks to combine the characteristics and advantages of more than one of the classic processes is known
olga55 [171]

Answer:

B. Hybrid manufacturing process

Explanation:

A group of processes that seeks to combine the characteristics and advantages of more than one of the classic processes is known as a <u>Hybrid manufacturing process</u>. In a hybrid manufacturing process, two types of processes are being combined in a single machine. The combined process consists of the features of the both of the processes being performed simultaneously.

5 0
3 years ago
Other questions:
  • Listed options on U.S. exchanges are available on all of the following currencies except:_________.A) Canadian dollar. B) Japane
    10·1 answer
  • 2. If a series of severe storms in the Atlantic Ocean drastically significantly disrupted the transatlantic slave trade, which w
    14·1 answer
  • How do you create your own bank account?
    8·1 answer
  • Which set of headings is the most helpful to a business reader who wishes to grasp the main ideas of a report quickly?
    10·1 answer
  • Assume the U.S. interest rate is 7.5 percent, the New Zealand interest rate is 6.5 percent, the spot rate of the NZ$ is $.52, an
    5·1 answer
  • The distinction between a normal and an inferior good is
    9·1 answer
  • 1. Most financial crises in the United States have begun with A. a steep stock market decline. B. an increase in uncertainty res
    7·1 answer
  • Suppose that U.S. Consumption spending is ​$12.4 ​trillion, gross private domestic investment is ​$2.3 ​trillion, government spe
    6·1 answer
  • Why is NDP never greater than GDP.
    9·1 answer
  • Emma worked the following schedule:
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!