Question

What do insurers consider while determining the expected volume of business?

a.

Design of product and size of premium/cover only

b.

Size of population and service provision only

c.

Design of product, size of population, size of premium/cover, and service provision

d.

Size of premium/cover and service provision only

Posted under IC 92 Actuarial Aspects of Product Development

Answer: (c).Design of product, size of population, size of premium/cover, and service provision Explanation:While determining the expected volume of business, insurers consider the design of the product, size of population, size of premium/cover, and service provision.

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Q. What do insurers consider while determining the expected volume of business?
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