Methods of Minimising Insurance Premiums from the Insurer's Perspective Include

question 10

Multiple Choice

Methods of minimising insurance premiums from the insurer's perspective include:

• A) reducing the average risk profile of new entrant.
• B) increasing the average risk profile of new entrant.
• C) reducing the total number of entrants.
• D) both a and c

Analyze real-life scenarios to determine the applied sales technique.

Understand the ethical considerations in applying persuasive sales techniques.

Develop critical thinking skills by evaluating the effectiveness of different persuasion tactics.

Understand key social psychology experiments and their implications on human behavior.

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Definitions:

Competitive Advantage

The unique advantage a company has over its competitors, allowing it to generate greater sales or margins and/or retain more customers.

Technological Innovations

New or improved technological products or processes that significantly advance the state of the art, within any field of technology.

Faithful Representation

A fundamental qualitative characteristic in accounting that ensures financial information accurately reflects an entity's transactions and events in a way that is complete, neutral, and free from error.

Economic Events

Actions or occurrences that have a direct economic impact on the financial position of a business, influencing its assets, liabilities, and equity.