Discuss methods of setting premium rates in insurance companies (Manual rating, merit rating, judgement rating

1.Discuss methods of setting premium rates in insurance companies (Manual rating, merit rating, judgement rating

2. . Identify any two insurance companies in Kingdom of Saudi Arabia and explain any two insurance products offered by them. Your answer should be based on following points:

• Name of the Company
• Type of Insurance
• Premiums
• Significant features of the insurance product

3. Discuss in detail the various functions involved in “Transaction Cycle” with suitable examples.