Discuss methods of setting premium rates in insurance companies

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.