Question

What are some of the uses of the information produced from a statistical base in insurance and reinsurance?

a.

Production of accounts

b.

Production of marketing information

c.

Assessment of outstanding claims and IBNR reserves

d.

All of the above

Answer: (d).All of the above Explanation:The information produced from a statistical base in insurance and reinsurance has multiple uses. It is used for the production of accounts, marketing information, and rating information. It is also utilized for assessing outstanding claims and Incurred But Not Reported (IBNR) reserves, as well as for financial planning purposes. These uses demonstrate the importance of a robust statistical system in supporting various aspects of insurance and reinsurance operations.

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Q. What are some of the uses of the information produced from a statistical base in insurance and reinsurance?

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