Would a competitive environment (or lack thereof) be considered an external force when pricing a life insurance policy?
If so, which of the 5 categories described in Module 2 would it fall into?
1. Cultural/Social
2. Demographics
3. Physical Environment
4. Economic Environment
5. Government Influences
I'm assuming it wouldn't be 3 or 5 but either 1 or 2 makes sense to me.
If so, which of the 5 categories described in Module 2 would it fall into?
1. Cultural/Social
2. Demographics
3. Physical Environment
4. Economic Environment
5. Government Influences
I'm assuming it wouldn't be 3 or 5 but either 1 or 2 makes sense to me.
Types of External Forces
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