An underwriting process used to determine the appropriate price category or Premium Rate Class of the proposed insured, according to risk factors associated with that person's health condition, occupation, lifestyle, etc.
Refers to a classification based on the actual and predicted number and size of losses that can be expected from the physician's specialty, procedures performed and geographic location. This is used to determine the premium.
Characteristics of those individual seeking a life insurance policy based on standard criteria (age, sex, health condition, occupation).
The process by which a company decides how its premium rates for life insurance should differ according to the risk characteristics of individuals insured (e.g., age, occupation, gender, health status) and how the resulting rules are applied to individual applications. See underwriting.
The process to decide the premium rates for life insurance according to the risk characteristics of individuals insured (e.g., age, occupation, sex, state of health etc.) and then applies the resulting rules to individual applications.
The process whereby applicants with similar levels of risk are placed in a separate basket so that the appropriate pricing is charged for the individuals within each respective basket.
the way in which a company decides the structure of its premium rates for life insurance, based on the risk characteristics of individuals insured (e.g. age, occupation, sex, health).
The outcome of automated underwriting that indicates the likely performance of the loan. For Loan Prospector the risk classifications are: accept, refer and caution.
General] the process of grouping RISKs with similar risk characteristics so that differences in expected costs may be appropriately recognized [similar to ASOP No. 12
The process by which a company decides how its premium rates for Life Insurance should differ according to the risk characteristics of individuals insured (e.g., age, occupation, sex, state of health) and then applies the resulting rules to individual applications. (See also: Underwriting)