Insurance Questions daily proved very useful to all Insurance aspirants or insurance savvy who regularly seek insurance knowledge.
These 20 Insurance GK MCQs are all about Life and about the general insurance sector.
Questions related to ties ups of Insurance companies with Banks for selling Insurance products, GK on IRDAI, and FDI update on Insurance and insurance intermediaries.
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Q-1- Insurers are widely using _________ for messaging apps to resolve claim queries and answer questions.
Option 4 Insurers are widely using chatbots for messaging apps to resolve claim queries and answer questions.
Q-2- These days Insurers are using _____________ to improve operational efficiency from claim registration to claim settlement.
- machine learning
- predictive learning
Option-3 These days Insurers are using machine learning to improve operational efficiency from claim registration to claim settlement.
Q-3- Machine learning and ____________ can also equip insurers with a better understanding of claim costs.
- Imitation games
- Predictive models
- quantitative models
- Computing capabilities
Option-2 Machine learning and predictive models can also equip insurers with a better understanding of claim costs. .
Q-4- Machine Learning used in all EXCEPT
- Fraud prevention
- Insurance advice
- Claim processing
- Marketing strategies
Option-4 Machine Learning used in all EXCEPT Marketing strategies.
Q-5- All below are Machine Learning algorithms EXCEPT
Option-1 All below are Machine Learning algorithms EXCEPT predictive.
Q-6- ___________ is the method used when labelled data are not available, such as to detect data clusters e.g. in insurance to group policyholders by purchase behaviour.
- predictive learning
- supervised learning
- unsupervised learning
- reinforcement learning
Option-3 Unsupervised learning is the method used when labelled data are not available, such as to detect data clusters e.g. in insurance to group policyholders by purchase behaviour.
Q-7- Conventional machine Intelligence(MI) such as generalized ____________ have become standard tools in insurance for risk assessment and prediction models.
- linear models
- imitation games
- predictive analysis
- qualitative data analysis
Option-1 Conventional machine Intelligence(MI) such as generalized linear models have become standard tools in insurance for risk assessment and prediction models.
Q-8- A Captive insurance company is wholly owned_____________.
- limited liability firm
- insurance subsidiary
- strategic business unit
- non insurance subsidiary
Option-2 A Captive insurance company is wholly owned Insurance subsidiary.
Q-9- From below which is not a benefit of Captive insurance company?
- offers tax benefits
- reduce operating cost
- improved capital cost
- tailor made policies for required coverage
Option-1 Captive insurance companies doesn’t offers tax benefits.
Q-10- Risk Shifting and Risk Distribution are interchangeably terms.
Which is correct from below
- risk distribution
- risk shifting in case of insurance only
- both term can use as interchangeable
- both term can not use as interchangeable
Option-4 Risk Shifting and Risk Distribution are both different interchangeably terms.