Question

What should an insurer provide when discussing the product design concept of a proposed innovative product with the Authority?

a.

Detailed financial projections

b.

Market research inputs identifying customer needs

c.

Proof of increased infrastructure costs

d.

Statements from competitors

Answer: (b).Market research inputs identifying customer needs Explanation:An insurer should provide market research inputs identifying the specific needs of customers when discussing the product design concept of a proposed innovative product with the Authority, as per the regulations.

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Q. What should an insurer provide when discussing the product design concept of a proposed innovative product with the Authority?

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