Question
In: Operations Management
Class for, Management of Marketing Techniques USAA's home and auto insurance policies have ________ attributes because...
Class for, Management of Marketing Techniques
USAA's home and auto insurance policies have ________ attributes because the public is not considered to have expert knowledge on them, but knows the desired end state, to have their home or car protected in the event of an emergency.
A: credence
B: search
C: experience
D: multiple
Solutions
Expert Solution
USAA's home and auto insurance policies have ....multiple....... attributes because the public is not considered to have expert knowledge on them, but know the desired end state, to have their home or car protected in the event of an emergency.
USAA's home and auto insurance policies have multiple benefits compared to other competitors in insurance markets.
keosha answered 2 years agoRelated Solutions
Des/ign, implement, (Auto, Home, Life) as classes and test them, that represent different insurance policies.
Des/ign, implement, (Auto, Home, Life) as classes and test them,
that represent different insurance policies. A policy contains
information used by an insurance company to provide financial
assi/stance in the event of an accident. It also contains
information used to compute how much money, also called acommission. Develop instance variables, constructors,
get/set methods, and a toString method for each class. Create a
driver class called PolicyTest, whose main method creates objects
from each type of class, sets each object with...
How is the Judgement Proof problem mitigated in the auto insurance market? A.Personal auto insurance policies...
How is the Judgement Proof problem mitigated in the auto
insurance market?
A.Personal auto insurance policies exclude losses occurring
when the auto is used for non-personal (business) use
B.Purchase of Auto Insurance is mandatory to operate a
vehicle
C.Insurance companies offer Umbrella Insurance to increase the
liability coverage above that offered in Auto Insurance
policies
D.All states have enacted Financial Responsibility laws
An insurance agent plans to sell three types of policies— homeowner’s insurance, auto insurance and life...
An insurance agent plans to sell three types of policies—
homeowner’s insurance, auto insurance and life insurance. The
average amount of profit returned per year by each type of
insurance policy is as follows:
Policy
Yearly
Profit/Policy
Homeowner’s
$50
Auto 40
Life 75
Each homeowner’s policy will cost $18.20, each auto policy will
cost $14.50 and each life insurance policy will cost $30.50 to sell
and maintain. He has projected a budget of $80,000 per year. In
addition, the...
An insurance agent plans to sell three types of policies— homeowner’s insurance, auto insurance and life...
An insurance agent plans to sell three types of policies—
homeowner’s insurance, auto insurance and life insurance. The
average amount of profit returned per year by each type of
insurance policy is as follows:
Policy/Yearly Profit/Policy
Homeowner’s $50
Auto 40
Life 75
Each homeowner’s policy will cost $18.20, each auto policy will
cost $14.50 and each life insurance policy will cost $30.50 to sell
and maintain. He has projected a budget of $80,000 per year. In
addition, the sale of...
Insurance, Inc. is a large insurance company with partners that specialize in home, auto, and business insurance
Insurance, Inc. is a large insurance company with partners that
specialize in home, auto, and business insurance. Since each
partner specializes in a different area of insurance, customers
would be likely toa) prefer to work with one person who has diverse skills.b) view the service as higher quality than that provided by one
person.c) take their business to a sole proprietor, rather than this
partnership.d) view the service as lower quality than that provided by one
person.e) question the qualifications...
Insurance, Inc. is a large insurance company with partners that specialize in home, auto, and business...
Insurance, Inc. is a large insurance company with partners that
specialize in home, auto, and business insurance. Since each
partner specializes in a different area of insurance, customers
would be likely to
a) prefer to work with one person who has diverse skills.
b) view the service as higher quality than that provided by one
person.
c) take their business to a sole proprietor, rather than this
partnership.
d) view the service as lower quality than that provided by one...
Write an AutoInsurance class to abstract auto insurance polices.
USE C#.Write an AutoInsurance class to abstract auto insurance polices.
Each auto insurance policy contains policy holder's name, policy
number, car model, monthly premium, inception date, and expire
date. This class needs to provide two constructors and one method
which is to calculate the yearly premium.
An insurance company has the following profitability analysis of its services: Life Insurance Auto Insurance Home...
An insurance company has the following profitability analysis of its services:
Life Insurance Auto Insurance Home Insurance
Revenues $5,000,000 $10,000,000 $3,000,000
Commissions (1,000,000) (2,000,000) (600,000)
Payments (3,000,000) (7,300,000) (2,000,000)
Fixed Costs (500,000) (500,000) (500,000)
Profit $ 500,000 $ 200,000 ($ 100,000)
The fixed costs are distributed equally among the services and are not avoidable if one of the services is dropped.
What is the profitability of the remaining services if all services with losses are dropped?
In the past, Insurance industry focused mainly on marketing of Cash Value life insurance policies. Whole...
In the past, Insurance industry focused mainly on marketing of
Cash Value life insurance policies. Whole Life insurance with a
saving component was being promoted as effective “forced saving”
tools. Nowadays, Term life insurance is being promoted as a more
“effective” insurance product. More and more insurance companies
encourage consumer to “buy term and invest the difference”.
In no more than 3 pages, identify all critical factors in
determining whether Term life or Cash value life insurance would
better suits...
A random sample of 8 drivers insured with a company and having similar auto insurance policies...
A random sample of 8 drivers insured with a company and having
similar auto insurance policies was selected. The following table
lists their driving experiences (in years) and monthly auto
insurance premiums:
Driving Experience (years)
Monthly Auto Insurance Premium
5
$64
2
$87
12
$50
9
$71
15
$44
6
$56
25
$42
16
$60
a. Make a scatter plot of the data
b. Calculate the correlation coefficient
c. Calculate a simple linear regression with Premium as the
dependent variable...
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