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Jack works in the data analytics department of an insurance company. He was asked to...

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Finance

Jack works in the data analytics department of an insurance company. He was asked to do a presentation to the Board of Directors and Senior Management regarding how the insurance company pays out their claims. In the presentation, Jack needs to explain the components of loss costs to explain where the claims money is channeled. Please explain fully and give examples to each components of loss costs so that the Senior Executive understands the concept

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