Examlex
If in-house experience exists for all the functional and technical needs of the new system, it will be easier to outsource the building of the system, because the company employees with those skills will be able to quickly learn the new system with very little training.
Known Factors
Elements or conditions that are clearly understood or recognized in a given context or analysis.
Insurance Contract
A legal agreement between an insurance policyholder and the insurer, detailing the terms and conditions under which the insurer agrees to compensate the insured for specific losses or damages.
Policy
A course or principle of action adopted or proposed by an organization or individual, guiding decisions and achieving rational outcomes.
Premium
An amount paid for an insurance policy, reflecting the cost of coverage.
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