Question

The use of PC and email in data processing enables:

a.

Slower communication and data storage

b.

Faster communication and data sharing

c.

Higher reinsurance costs

d.

Decreased efficiency in the reinsurance process

Answer: (b).Faster communication and data sharing Explanation:Using a PC to turn out files and sending them via email facilitates efficient communication, data sharing, and data storage. Complex data on risk proposals can be transmitted within seconds anywhere in the world and complete transactions with overseas contacts within the space of hours.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. The use of PC and email in data processing enables:

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. What does networking with a mainframe and hardware arrangements like hubs and routers enable?

Q. What is the term used to describe an internal network connecting all executives and offices within an organization?

Q. How is access to an intranet typically restricted?

Q. What is an extranet?

Q. How do web-based portals and online reinsurance exchanges benefit insurers and reinsurers?

Q. What is the term used to describe the process of electronically settling statements and making online payments?

Q. According to Bill Gates, what term is used to describe a system where everyone has access to data that enriches their job and performance?

Q. How does the availability of real-time data impact performance and growth?

Q. An organization can internally connect all its executives and offices through a private internet arrangement. What term is used for such arrangement?

Q. Which of the following is NOT a component of the organization of a reinsurance department?

Q. What is the purpose of providing a current organizational chart with a brief description of members in an insurer's system?

Q. What is the potential impact of a decentralized approach to underwriting in an insurer with multiple locations?

Q. What is the potential impact of a decentralized approach to underwriting in an insurer with multiple locations?What information do regulators and investors typically seek when assessing an insurer's organization?

Q. Why is delegation of authority important in an organization?

Q. In a reinsurance company, who is responsible for the acceptance of business and the profits made?

Q. Which factor contributes to increasing the credibility of the primary insurer and aids in the renewal of treaties?

Q. What is the importance of maintaining accurate statistics in reinsurance business?

Q. What is the purpose of reviewing acceptances in reinsurance business?

Q. What information is summarized in a reciprocal exchange in reinsurance?

Q. Why is careful control required for accumulation hazards in reinsurance business?

Recommended Subjects

Are you eager to expand your knowledge beyond IC85 Reinsurance Management? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!