An Insured Risk and the Application of Excel and Technological Skills

Do you need this or any other assignment done for you from scratch?
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)

NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.

NB: All your data is kept safe from the public.

Click Here To Order Now!

An Insured Risk and the Application of Excel and Technological Skills

Insurance companies take the risk of loss or damage caused to an asset on behalf of the owner. Auto insurance is an example of insurance that I have chosen since it protects me from risk in case of uncertainty. Auto insurance policy entails six fields namely comprehensive, collision, bodily injury liability, Personal Injury Protection (PIP) or medical payments, property damage liability, and Uninsured and Underinsured Motorist Coverage (Duan et al., 2018). This paper explains an insured risk and the application of Excel and technological skills to analyze and organize data for appropriate decision-making.

Technology skills can help analyze and organize data to help determine whether insurance coverage is appropriate for an Auto Insurance cover. Insurance aggregator sites such as the PLCBZR or ZBR facilitate the identification of competitive coverage and access to quotes from various providers. The platform enables consumers to obtain beneficial information making it possible to select the most appropriate option in real-time based on the individual needs. Data on excel can facilitate analysis of the available information and support the making of the right decision as shown below.

Coverage Insurance company 1 Insurance company 2 Insurance company 3 Insurance company 4 Insurance company 5
Collision
Liability on bodily injury
Underinsured and uninsured motorist coverage
Comprehensive
Personal Injury Protection (PIP) and Medical Payments
Liability on property damage
Quotes

The above template can make it easy for insurers to compare quotes and identify the insurance offering the maximum value. The consequences and cost of not having insurance can sometimes be too high and unfordable in the case of an uncertain event. The insurance cover can protect the property owner from facing liability particularly when the involved cost is high. However, the cost of the insurance over time can exceed the insured cost of the asset when premiums are paid for an extended period.

Reference

Duan, Z., Chang, Y., Wang, Q., Chen, T., & Zhao, Q. (2018). A logistic regression-based auto insurance rate-making model designed for the insurance rate reform. International Journal of Financial Studies, 6(1), 18.

Do you need this or any other assignment done for you from scratch?
We assure you a quality paper that is 100% free from plagiarism and AI.
You can choose either format of your choice ( Apa, Mla, Havard, Chicago, or any other)

NB: We do not resell your papers. Upon ordering, we do an original paper exclusively for you.

NB: All your data is kept safe from the public.

Click Here To Order Now!