Question

What does KYC stand for in the insurance industry?

a.

Know Your Claim

b.

Know Your Customer

c.

Know Your Company

d.

Know Your Coverage

Answer: (b).Know Your Customer Explanation:KYC stands for Know Your Customer norms, which are prescribed by the Insurance Regulatory and Development Authority (IRDA) for client identification process.

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Q. What does KYC stand for in the insurance industry?

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