How Would the Insurance Industry Use Business Intelligence

question 16

Multiple Choice

How would the insurance industry use business intelligence?

• A)analyze popular vacation locations with current flight listings
• B)understand customer credit card usage and nonpayment rates
• C)compare the demographics of patients with critical illnesses
• D)predict claim amounts and medical coverage costs

---

Definitions:

Cohort Effects

The variations in characteristics or experiences of individuals caused by specific cultural, social, or historical events affecting their cohort.

Life Experiences

Refers to the events, situations, and activities that an individual encounters throughout their life, shaping their personality and perspectives.

Intelligence Test Scores

Quantitative measures assigned based on performance on tasks designed to assess cognitive ability, used to estimate an individual's intelligence level.

More Recent Generations

The younger groups of people born and living about the same time, particularly those born after the 1980s.