Examlex
The correct calculation of an insurance premium relies upon the determination of the expected monetary value of claims (their probability multiplied by their expected costs)multiplied by the number of policyholders.Over time,the law of averages-arithmetic averages-allows an insurance company to be profitable.
Service Characteristic
Features that distinguish services from goods, including intangibility, inseparability, variability, and perishability.
Responsiveness
The speed and quality of a response to customer inquiries, complaints, or needs, reflecting a company's customer service level.
Service Quality
The assessment of how well a delivered service matches customer expectations, often used as a key performance metric in service industries.
Voice-of-customer
A term used to describe the process of capturing customers' preferences, experiences, needs, and expectations.
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