What Kind of Research Is Being Used When an Insurance

question 71

Short Answer

What kind of research is being used when an insurance company representative sits down with people who have lost their homes to tornadoes and asks,"What could have been done to better handle your needs immediately after the storm"?

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Definitions:

Exhaustible Resource

A natural resource, such as oil or coal, that has a finite supply and can be depleted if used unsustainably.

User Cost

The cost of using a product or service, taking into account factors such as depreciation, wear and tear, and opportunity cost of using the asset rather than investing the money elsewhere.

Depletable Resource

A natural resource that can be diminished by use, such as fossil fuels or minerals, which are not renewable over short time spans.

User Cost

The cost of using a good or service, including the actual price paid and other sacrifices (like time or effort).