Question

What is the importance of calling for additional requirements in the risk assessment process?

a.

It helps to reduce the premium rates for the insurance policy

b.

It helps to identify potential risks and manage them effectively

c.

It helps to increase the market share of the insurance company

d.

It helps to improve the financial performance of the insurance company

Posted under IC22 Life Insurance Underwriting

Answer: (b).It helps to identify potential risks and manage them effectively Explanation:Calling for additional requirements in the risk assessment process helps to identify potential risks and manage them effectively.

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Q. What is the importance of calling for additional requirements in the risk assessment process?
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