STUDY 10-INDUSTRY ORGANIZATIONS, THE CUSTOMER

Question 1

direct billing

Answer 1

A system for collecting premiums whereby an insurer bills and collects the premium directly from the insured as opposed to the agent or broker being a middleperson. Premiums are usually collected monthly by direct debit from the insured’s bank account.

Question 2

ombudsperson

Answer 2

Person employed by the insurer to help resolve claims complaints.