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Insurance business operations are in two components, i.e. technical business and non-technical business. Briefly explain these two components and define the technical risk to

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Insurance business operations are in two components, i.e. technical business and non-technical business. Briefly explain these two components and define the technical risk to which the insurance company is exposed. You may illustrate and define your answer using the Risk Reserve Process (Random Walk) (8 Marks) b) Carefully explain how the insurance company can systematically manage the technical risk in terms of the choice of the instruments of risk control and their effects on the Risk Reserve Process.

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a 1 Technical Business This component encompasses the core activities related to underwriting pricing and claims management It involves assessing and ... blur-text-image

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