Question

What is insurance pricing? Explain the pricing objective of insurance.

Answer 1

the free encyclopedia. Rate making, or insurance pricing, is the determination of rates charged by insurance companies. The benefit of rate making is to ensure insurance companies are setting fair and adequate premiums given the competitive nature.

Answer 2

Insurance pricing :- It's the determination of rates charged by the insurance companies .

Objectives of insurance pricing :-

♥ Regulatory

1) Adequate rates

2) Not excessive

3) Not unfairly discriminatory

♥ Business

1) Simplicity

2) Stability

3) Responsiveness

4) Encouragement of loss control

Hope it helps ✌

Shreya ❤