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Rating for various risk traits entails – at the most basic degree – comparing the losses with “loss relativities”—a policy with twice as many losses would, due to this fact, be charged twice as a lot. More advanced multivariate analyses are typically used when a number of traits are concerned and a univariate analysis could produce confounded results. Other statistical strategies may be used in assessing the likelihood of future losses. The policyholder can select to pay the time period insurance premiums through Net Banking, Debit/Credit cards, NEFT or by way of any e-Wallets.
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