As a manager at a major insurance company, Meredith asks two of her analysts to help...

As a manager at a major insurance company, Meredith asks two of her analysts to help answer two separate questions regarding a recent car insurance client. She asks the first analyst, Darryl, to predict the likelihood that the client will be in an accident in the next five years using demographic characteristics (e.g., the client's age, education, etc.). She asks the second analyst, Amanda, to predict the effect of a 10% cut in the client's premium on the likelihood that the client switches providers in the next three years. Which analyst is making an active prediction? Why?

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Agree and explain why you agree.

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Offer an opinion with an example to support it.

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Expert Solution

As per above case Amanda making an active prediction,Because now days so many competators in the market for each product or service.In the first analysis darryl making to predict the likelihood that the client will be in an accident in the next five years using demograhic,the probability of this analysis may not occur.As per market so many companys and agencys are providing insurance so the client will switch over to others based on their interst and convinence.

For Example dravid bought one car and completed all formalities regarding registration and he took insurance policy in that company.the policy validity i year after that he can renew through the same company or some other agencies, so many competators are in the market as much as possible we have to maintain customer relationship then only business will survive

in the first analysis the probability of likelihood that the client will be in an accident in the next five years .that may be occur or not in case it occur or not we don't know the client continue with us or not.

so as per my opinion the second analysis will consider and provide benfits to the client as much as possible we can provide and same time consider not effect the financial posiotion.

ekkarill92 answered 2 years ago

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