Mathematics, 19.05.2020 13:01 rubes08

What role does math play in the insurance industry?
Insurance companies use statistics to find how likely a client will need to use the insurance so they can set premiums in order to have the highest chance of making a profit.
Insurance companies use algebra and geometry to calculate the distance from clients' major emergencies to nearest hospitals.
Insurance companies use statistics to hypothesize how likely clients are to switch over to competitive companies.
Insurance companies use calculus to find out how likely a client will need to use the insurance so they can set premiums in order to have the highest chance of making a profit.

Answers: 2

Show answers

Answers

The insurance industry is an industry that is an entity that provides insurance or insures the policyholder of the entity that is meant to be covered.

Here the insurers get a contract with deals with the conditions and circumstances. Under which they will compensate the endured or the delegated beneficiary. Insurance companies use statistics on how likely towards its for companies to inspire competitive companies. They are also ready o make use of the set premiums and have a high chance of making a profit.

Hence the option A and C are correct.

Learn more about the role does math play in the insurance industry.

Answer from: yasarhan2

The role math plays in the insurance industry is:

Insurance companies use statistics to find how likely a client will need to use the insurance so they can set premiums in order to have the highest chance of making a profit.

Step-by-step explanation:

Two reasons back this answer, first of all the insurance companies study the complete profile of the applicant to understand what will be the probability of the insurance usage as well as the most common way it will be used to charge the premiums at the best probability their model suggest. Consider a teacher who works in a school relatively close to his house and doesn't practice any high-risk activity. He is going to likely have a small premium while a snowboarding pro will have a very expensive premium.

Answer from: Quest

i used to know how to do this in 7th but i forget easily

step-by-step explanation:

Answer from: Quest

9.55 degrees.

step-by-step explanation:

the given angle is $\frac{31\pi}{6}=5.166667\pi$

1 cycle is equal to 2π radians. so 4π will be equal to two cycles.

5.166667π-4π = 1.166667π

hence, this angle goes a little more than negative x axis.

1.166667π-π= 0.166667π

hence, the reference angle is 0.166667π radians.

1 radian = 57.2958 degrees

now, in degrees, this should be equals to 9.55 degrees.

Another question on Mathematics

Mathematics, 21.06.2019 16:00

This race was first held in 1953 on august 16th. every decade the race finishes with a festival. how many years is this?

Answers: 2

Answer

Mathematics, 21.06.2019 17:10

The random variable x is the number of occurrences of an event over an interval of ten minutes. it can be assumed that the probability of an occurrence is the same in any two-time periods of an equal length. it is known that the mean number of occurrences in ten minutes is 5.3. the appropriate probability distribution for the random variable

Answers: 2

Answer

Mathematics, 21.06.2019 21:10

What is the equation of a line passing through (-6,5) and having a slope of 1/3

Answers: 3

Answer

Mathematics, 21.06.2019 23:00

Jim had 3,067.48 in his checking account he wrote a check to pay for two airplane tickets. his account now has 1,845.24.

Answers: 1

Answer

You know the right answer?

What role does math play in the insurance industry?
Insurance companies use statistics to fin...