Question

Why is new product design required in the insurance market?

a.

To reduce customer base

b.

To maintain stagnant profits

c.

To address gaps and improve products

d.

To ignore market changes

Answer: (c).To address gaps and improve products Explanation:New product design is necessary in the insurance market to address gaps in existing products, improve features, and adapt to changing market conditions and customer needs.

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Q. Why is new product design required in the insurance market?

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