Insurance companies use statistical information to establish rates for various classes of insureds.

Name: Insurance companies use statistical information to establish rates for various classes of insureds.
Brand: Quizplus
Rating: 4.8 (27 reviews)

Question

Quizplus · Accepted Answer

Insurance companies collect and analyze statistical data to determine the likelihood of claims and establish rates for different groups of insureds. This helps them to maintain profitability while providing coverage to their policyholders.

Insurance Companies Use Statistical Information to Establish Rates for Various