The Process of Building Profiles of Customers from a Firm's

question 115

Multiple Choice

The process of building profiles of customers from a firm's database is:

• A)data warehousing.
• B)direct marketing.
• C)location data tracking.
• D)data mining.

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Definitions:

Liability Insurance Policy

A financial product that provides the insured party with protection against claims resulting from injuries and damage to people and/or property.

Insurable Interest

The stake or financial interest an individual or entity has in the potential loss of something insured, ensuring they suffer a direct loss if an insured event occurs.

Good Faith

A sincere intention to deal fairly with others without any intention to deceive or commit fraud.

Coinsurance Clause

A provision in an insurance policy requiring the policyholder to bear a portion of the costs of a claim, reducing the insurer’s risk.