50+ Digit Insurance Interview Questions and Answers

The SUBSTITUTE function in Excel replaces a specific occurrence of a text string with another text string.

• Syntax: SUBSTITUTE(text, old_text, new_text, instance_num)

• text: The original text string where replacement will occur

• old_text: The text string to be replaced

• new_text: The text string to replace old_text with

• instance_num: Optional parameter to specify which occurrence of old_text to replace

• Example: =SUBSTITUTE("apple,banana,orange", ",", "/", 2) will replace the second com...read more

A pivot table in Excel is a data summarization tool that allows you to reorganize and summarize selected columns and rows of data.

• Accessed by selecting the data range you want to analyze, then going to the 'Insert' tab and clicking on 'PivotTable'.

• Utilized by dragging and dropping fields into the 'Rows', 'Columns', 'Values', and 'Filters' areas to organize and summarize data.

• Can be used to quickly analyze large datasets and identify trends, patterns, and relationships within ...read more

Tableau and Power BI are both powerful data visualization tools, with Tableau being more user-friendly and Power BI offering better integration with Microsoft products.

• Tableau is known for its user-friendly interface and ease of use for creating visually appealing dashboards.

• Power BI offers better integration with Microsoft products such as Excel, SharePoint, and SQL Server.

• Tableau is considered superior for its ease of use and flexibility in creating complex visualizations, ...read more

To sort the top 10 rows in Excel, select the range of data, go to the Data tab, click on Sort, choose the column to sort by, select Top 10 from the options, and specify whether to sort in ascending or descending order.

• Select the range of data containing the top 10 rows you want to sort.

• Go to the Data tab in Excel.

• Click on the Sort button.

• Choose the column you want to sort by.

• Select 'Top 10' from the 'Sort On' dropdown menu.

• Specify whether you want to sort in ascending or desc...read more

Adjusted R-squared is a statistical measure that adjusts the R-squared value for the number of predictors in a regression model.

• Adjusted R-squared takes into account the number of predictors in a regression model, providing a more accurate measure of the model's goodness of fit.

• It penalizes the addition of unnecessary predictors, helping to prevent overfitting.

• A higher adjusted R-squared value indicates a better fit of the model to the data.

• It is calculated using the formula:...read more

Correlation is a statistical measure that describes the relationship between two variables.

• Correlation can range from -1 to 1, with 0 indicating no correlation, 1 indicating a perfect positive correlation, and -1 indicating a perfect negative correlation.

• A positive correlation means that as one variable increases, the other variable also tends to increase. For example, there is a positive correlation between studying hours and exam scores.

• A negative correlation means that as ...read more

Project managers focus on overseeing the execution of a specific project, while product managers are responsible for the overall strategy and development of a product.

• Project managers are focused on the successful completion of a project within scope, budget, and time constraints.

• Product managers are responsible for the strategic direction, development, and success of a product throughout its lifecycle.

• Project managers work with cross-functional teams to ensure project milest...read more

Limitations of food delivery apps that need improvement

• Inaccurate delivery times leading to customer dissatisfaction

• Limited restaurant options available on the app

• Difficulty in customizing orders or making special requests

• Issues with order accuracy and missing items

• Lack of transparency in pricing and additional fees

Family income can be derived from both a business and job holders.

• Family income can come from a business owned by a family member.

• Family income can also come from salaries earned by family members from their jobs.

• In some cases, family income may be a combination of income from both business and job holders.

• Examples: A family may own a small business like a bakery and also have family members working in corporate jobs.

• Another example could be a family where one member runs a c...read more

The survey procedure involves assessing damages and determining their relevance to the cause of loss.

• Conduct a thorough inspection of the damaged headlight

• Document the scratch and its location

• Review the policy terms and conditions to understand coverage

• Assess the cause of loss and determine if the scratch is relevant

• Consider any applicable deductibles or exclusions

• Communicate with the insured to explain the findings and decision

• Provide options for repair or replacement if nec...read more

I currently reside in a cozy apartment in downtown Seattle.

• My place of domicile is in Seattle, Washington.

• I live in a cozy apartment in downtown Seattle.

• I have been a resident of Seattle for the past five years.

Encapsulation is the process of hiding implementation details while providing a public interface. Example: a car's engine.

• Encapsulation is a fundamental concept in object-oriented programming.

• It helps in achieving data abstraction and information hiding.

• A real-time example of encapsulation is a car's engine, where the user only interacts with the interface (steering wheel, pedals) and doesn't need to know the internal workings.

• To print the maximum occurring character in a str...read more

The question asks for reversing a string and finding the index of a given character in the string.

• To reverse a string, you can iterate through the characters of the string and append them in reverse order to a new string or use built-in string reversal functions.

• To find the index of a given character in a string, you can use the indexOf() function or iterate through the characters and compare each character with the given character.

Technicalities to consider during processing of general insurance claim

• Verify policy coverage and limits

• Assess the cause of loss and determine if it is covered

• Gather necessary documentation and evidence

• Evaluate the extent of damage or loss

• Adhere to regulatory requirements and timelines

• Communicate effectively with the insured party

OOP is a programming paradigm based on the concept of objects, which can contain data and code to manipulate that data.

• OOP focuses on creating objects that interact with each other to solve problems.

• Key concepts include classes, objects, inheritance, polymorphism, and encapsulation.

• Classes are blueprints for creating objects, defining their properties and behaviors.

• Inheritance allows new classes to be based on existing classes, inheriting their properties and methods.

• Polymorp...read more

Create a controller, service, and repository to save user details using Spring Data JPA.

• Create a UserController class with appropriate mappings for saving user details.

• Create a UserService class with a method to save user details.

• Create a UserRepository interface that extends JpaRepository to handle database operations.

• Implement the saveUserDetails method in the UserService class to call the save method of the UserRepository.

• Inject the UserService into the UserController and ...read more

Creating a market in a competitive market requires identifying unique selling points, targeting specific customer segments, and building a strong brand image.

• Identify unique selling points that differentiate your product/service from competitors

• Target specific customer segments that are underserved by competitors

• Build a strong brand image through effective marketing and advertising

• Offer competitive pricing and promotions to attract customers

• Provide excellent customer service ...read more

To fit a line in sine wave, cosine wave, or circle, use linear regression to find the best-fitting line.

• Use linear regression to find the equation of a line that best fits the data points in the sine wave, cosine wave, or circle.

• For sine wave and cosine wave, the equation of the line can be in the form y = mx + c, where m is the slope and c is the y-intercept.

• For a circle, the equation of the line can be in the form y = mx + c, where m is the slope and c is the y-intercept.

• Pl...read more

Design patterns in Micro services help in solving common architectural challenges.

• Service Registry pattern

• Circuit Breaker pattern

• Gateway pattern

• Saga pattern

• API Gateway pattern

Types of frauds in General Insurance include premium diversion, false claims, and policy manipulation.

• Premium diversion: When an agent or employee diverts premium payments for personal use.

• False claims: Submitting fake claims for reimbursement.

• Policy manipulation: Altering policy details to obtain more coverage or lower premiums.

The question covers various topics related to front-end development, including hoisting, ES6 features, debounce and throttling, event delegation, dev dependencies, performance optimization, content projection, semantic tags, TestBed, and more.

• Hoisting refers to the behavior in JavaScript where variable and function declarations are moved to the top of their containing scope during the compilation phase.

• ES6 features include arrow functions, classes, let and const declarations,...read more

Python is preferred for data science due to its simplicity, versatility, and extensive libraries.

• Python is easy to learn and read, making it accessible for beginners and experts alike.

• Python has a wide range of libraries like NumPy, Pandas, and Scikit-learn for data manipulation and analysis.

• Python's versatility allows for seamless integration with other languages and tools, enhancing productivity.

• Python's strong community support and active development make it a popular choi...read more

Digit Insurance is a technology-driven insurance company offering a range of general insurance products.

• Digit Insurance was founded in 2016 by Kamesh Goyal.

• It is known for its innovative and customer-centric approach to insurance.

• Digit offers various insurance products such as health insurance, motor insurance, travel insurance, and more.

• The company leverages technology to simplify the insurance process and provide a seamless customer experience.

The current TDS rates vary depending on the type of income and range from 1% to 30%.

• TDS rates range from 1% to 30% depending on the type of income

• For salary income, TDS rates can range from 5% to 30%

• For interest income, TDS rates are typically 10%

• For rental income, TDS rates are usually 10%

IF and IFs formulas in Excel are used for logical tests and conditional statements to perform different actions based on specified criteria.

• IF formula is used to perform a logical test and return one value if the condition is met, and another value if the condition is not met.

• IFs formula is used to perform multiple logical tests and return a value that corresponds to the first TRUE result.

• Examples: =IF(A1>10, 'Yes', 'No') - returns 'Yes' if the value in cell A1 is greater tha...read more

CNN models are deep neural networks used for image classification and object recognition.

• CNN models use convolutional layers to extract features from images

• Pooling layers are used to reduce the spatial dimensions of the feature maps

• Fully connected layers are used for classification

• Examples of CNN models include VGG, ResNet, and Inception

Browser is a software application used to access and view websites, while hosting environment is the server where websites are stored and accessed.

• Browser is client-side software used to access websites

• Hosting environment is server-side where websites are stored

• Examples of browsers: Chrome, Firefox, Safari

• Examples of hosting environments: Apache, Nginx, Microsoft IIS

VLOOKUP is a function in Excel used to search for a value in a table and return a corresponding value.

• Select the cell where you want the result to appear

• Type =VLOOKUP(

• Enter the value you want to search for

• Select the range of cells where the value is located

• Enter the column number containing the value you want to return

• Enter FALSE for an exact match or TRUE for an approximate match

Pivot tables in Excel are used to summarize and analyze large amounts of data in a spreadsheet.

• Pivot tables help in organizing and summarizing data from a larger table.

• They allow users to reorganize and summarize selected columns and rows of data.

• Users can easily create reports and analyze trends using pivot tables.

• Pivot tables can also be used to perform calculations and apply filters to data.

• For example, you can use a pivot table to analyze sales data by product category or...read more

To run a query in SQL, use the SELECT statement followed by the columns you want to retrieve from a specific table.

• Start by writing the SELECT keyword followed by the column names you want to retrieve

• Specify the table you want to query from using the FROM keyword

• Add any additional conditions using the WHERE clause

• You can also use functions like COUNT, SUM, AVG, etc. for calculations

• End the query with a semicolon to execute

I handle customer calls by actively listening, empathizing with their concerns, and providing solutions in a professional and friendly manner.

• Active listening to understand the customer's issue

• Empathizing with the customer's concerns to show understanding

• Providing solutions or assistance in a professional and friendly manner

• Ensuring clear communication and follow-up if needed

Tokens are used in web development to authenticate users, authorize access to resources, and maintain session state.

• Tokens are often used for user authentication, where a user logs in and receives a token to access protected resources.

• Tokens can also be used for authorization, where different tokens grant different levels of access to resources.

• Tokens can help maintain session state by storing user information and permissions.

• Examples include JSON Web Tokens (JWT) for authent...read more

Insurance policies include health, life, auto, home, and business insurance.

• Health insurance covers medical expenses and treatments.

• Life insurance provides financial protection to beneficiaries in case of the insured's death.

• Auto insurance covers damages and liabilities related to vehicles.

• Home insurance protects against damages to the home and belongings.

• Business insurance covers risks associated with running a business.

To detect a loop in a linked list, use Floyd's Cycle Detection Algorithm.

• Use two pointers, slow and fast, to traverse the linked list.

• If there is a loop, the fast pointer will eventually meet the slow pointer.

• Time complexity is O(n) and space complexity is O(1).

To merge two CSV files, you can use software like Microsoft Excel or programming languages like Python.

• Open both CSV files in a software like Microsoft Excel.

• Copy the data from one CSV file and paste it into the other CSV file.

• Save the merged CSV file with a new name.

• Alternatively, you can use programming languages like Python to merge CSV files by reading both files, combining the data, and writing to a new file.

To sell higher MRP products, focus on highlighting the value and benefits, offer personalized solutions, provide excellent customer service, and showcase social proof.

• Highlight the unique value and benefits of the higher MRP products to justify the price point

• Offer personalized solutions tailored to the customer's needs and preferences

• Provide excellent customer service to build trust and loyalty

• Showcase social proof such as testimonials, reviews, or endorsements to demonstrat...read more

SUMIFS function in Excel is used to sum values based on multiple criteria.

• SUMIFS function syntax: =SUMIFS(sum_range, criteria_range1, criteria1, [criteria_range2, criteria2], ...)

• Can be used to sum values based on multiple conditions

• Criteria can be text, numbers, dates, logical expressions, etc.

• Example: =SUMIFS(B2:B10, A2:A10, "Apples", C2:C10, ">10")

XLOOKUP is a powerful function in Excel used to search for and return values in a range or array.

• XLOOKUP can be used to search for a value in a column or row and return a corresponding value from the same position in another column or row.

• It can handle both vertical and horizontal lookups, as well as return an array of results.

• XLOOKUP can also handle approximate matches and wildcard characters.

• Example: =XLOOKUP(lookup_value, lookup_array, return_array)

Training a CNN model involves selecting appropriate architecture, preparing data, setting hyperparameters, and optimizing loss function.

• Select appropriate CNN architecture based on the problem at hand

• Prepare data by preprocessing, augmenting, and splitting into training, validation, and test sets

• Set hyperparameters such as learning rate, batch size, and number of epochs

• Optimize loss function using backpropagation and gradient descent

• Regularize the model to prevent overfitting...read more

Building a brand requires consistent messaging, quality products/services, and positive customer experiences.

• Develop a clear brand identity and message

• Ensure all marketing materials align with brand identity

• Provide high-quality products/services

• Offer exceptional customer service

• Encourage positive customer reviews and referrals

ACID properties ensure database transactions are reliable and consistent. Normalization is the process of organizing data in a database.

• ACID properties stand for Atomicity, Consistency, Isolation, and Durability.

• Atomicity ensures that either all operations in a transaction are completed or none are.

• Consistency ensures that the database remains in a valid state before and after the transaction.

• Isolation ensures that transactions are independent of each other.

• Durability ensures...read more

Singleton design pattern ensures a class has only one instance and provides a global point of access to it.

• Create a private static instance of the class

• Provide a public static method to access the instance

• Ensure the constructor is private to prevent instantiation of multiple objects

Create a RESTful web service for user login functionality

• Use POST method to send user credentials to the server

• Validate the credentials against a database of users

• Return a success message or error message based on the validation result

I have a diverse background in finance, consulting, and project management.

• Started my career in finance at XYZ Company, where I gained experience in financial analysis and reporting

• Transitioned to consulting at ABC Consulting, working on various projects for clients in different industries

• Currently working as a project manager at DEF Corporation, leading cross-functional teams to deliver successful projects

Template and Reactive Forms in Angular are two ways to handle forms in Angular applications.

• Template Forms are based on the traditional HTML forms and are easy to use for simple forms.

• Reactive Forms are more flexible and powerful, allowing for complex form validation and dynamic form controls.

• Template Forms use two-way data binding, while Reactive Forms use a more reactive approach with observables.

• Reactive Forms are recommended for larger and more complex forms.

• Both Template...read more

I have worked on various projects including a web-based inventory management system and a mobile app for tracking fitness goals.

• Developed a web-based inventory management system using React and Node.js

• Created a mobile app for tracking fitness goals using Flutter

• Implemented RESTful APIs for communication between frontend and backend systems

Find missing numbers in array of strings

• Convert array of strings to array of integers

• Find the minimum and maximum numbers in the array

• Iterate through the range of numbers between the minimum and maximum to find missing numbers

Find the second largest string in an array of strings.

• Sort the array of strings in descending order

• Return the second element in the sorted array

Line of business volume refers to the amount of business activity within a specific line of products or services.

• Line of business volume can be measured by the number of transactions, revenue generated, or units sold within a particular product or service category.

• Analyzing trends in line of business volume can help identify areas of growth or decline within the business.

• For example, a branch manager may track the volume of mortgage loans originated each month to assess the p...read more

A guesstimate is an estimate made without using precise data, often based on rough calculations or educated guesses.

• Guesstimates are commonly used in situations where exact data is not available.

• They are often based on approximations, assumptions, and general knowledge.

• For example, estimating the number of jellybeans in a jar or the weight of an elephant based on its size would be considered guesstimates.

Current CTC and expected CTC are typically discussed during salary negotiations in a job interview.

• Be honest about your current salary and provide a realistic expectation for your future salary based on your experience and the industry standards.

• Consider factors such as cost of living, job responsibilities, and market trends when determining your expected CTC.

• Avoid giving a specific number if possible, instead provide a range to allow for negotiation.

• Highlight your skills and...read more