In the process of assigning a claim, an internal claims handler will often transfer
information to the insurer's standard form, called the
Give this one a try later!
First notice of loss (FNOL) form.
Which one of the following methods of establishing case reserves is used most often
when there are small variations in loss size for a particular type of claim?
Give this one a try later!
Average value method
,Although most policies are occurrence forms, covering claims that occur during the
policy period, some are claims-made forms. Which one of the following types of loss
is most likely to involve a claims-made form?
Give this one a try later!
A medical malpractice claim.
Hanna is in IT and works on data analytics projects for an insurer. These projects
involve analyzing large amounts of data to help underwriting to select risks and price
policies. Hanna knows that collaboration between data science, IT, underwriting, and
actuary is critical to the success of these projects. In Hanna's experience, as soon as
the need for a data project arises, the key to collaborating effectively is to engage
which one of the following teams as soon as possible?
Give this one a try later!
Data science
The first step in the data mining process is to
Give this one a try later!
Understand what a business wants to achieve.
Which one of the following statements regarding state versions of the NAIC model
act is correct?
, Give this one a try later!
Some states allow insureds and claimants to bring lawsuits against insurers,
while others allow only insureds.
Generally speaking, the most common application of predictive modeling in
insurance occurs in
Give this one a try later!
Risk selection.
To determine whether an insurer typically underreserves or overreserves claims,
actuaries compare the insurer's paid losses to
Give this one a try later!
The insurer's case reserves.
As a claims representative, some of Sara's goals is to benefit her employer by
ensuring the parties to a loss remember details accurately, reassuring the parties that
their claims are important, and lessening the chance that the parties will retain
attorneys. Sara accomplishes these goals through
Give this one a try later!
Timely contact with all parties to a claim.
information to the insurer's standard form, called the
Give this one a try later!
First notice of loss (FNOL) form.
Which one of the following methods of establishing case reserves is used most often
when there are small variations in loss size for a particular type of claim?
Give this one a try later!
Average value method
,Although most policies are occurrence forms, covering claims that occur during the
policy period, some are claims-made forms. Which one of the following types of loss
is most likely to involve a claims-made form?
Give this one a try later!
A medical malpractice claim.
Hanna is in IT and works on data analytics projects for an insurer. These projects
involve analyzing large amounts of data to help underwriting to select risks and price
policies. Hanna knows that collaboration between data science, IT, underwriting, and
actuary is critical to the success of these projects. In Hanna's experience, as soon as
the need for a data project arises, the key to collaborating effectively is to engage
which one of the following teams as soon as possible?
Give this one a try later!
Data science
The first step in the data mining process is to
Give this one a try later!
Understand what a business wants to achieve.
Which one of the following statements regarding state versions of the NAIC model
act is correct?
, Give this one a try later!
Some states allow insureds and claimants to bring lawsuits against insurers,
while others allow only insureds.
Generally speaking, the most common application of predictive modeling in
insurance occurs in
Give this one a try later!
Risk selection.
To determine whether an insurer typically underreserves or overreserves claims,
actuaries compare the insurer's paid losses to
Give this one a try later!
The insurer's case reserves.
As a claims representative, some of Sara's goals is to benefit her employer by
ensuring the parties to a loss remember details accurately, reassuring the parties that
their claims are important, and lessening the chance that the parties will retain
attorneys. Sara accomplishes these goals through
Give this one a try later!
Timely contact with all parties to a claim.
