Polestar Solutions & Services India Interview Questions and Answers

Need analysis involves identifying gaps between current and desired states. HLV is calculated based on job requirements. Fact finding is gathering information.

• Need analysis involves identifying the gap between current and desired states, and determining the root cause of the gap.

• HLV (Hourly Learning Value) is calculated by dividing the total hours of training required by the job by the total number of hours worked in a year.

• Fact finding is the process of gathering information...read more

Solvency margin is the excess of assets over liabilities. HDFC Life's AUM is INR 1.5 trillion.

• Solvency margin is a measure of an insurance company's ability to meet its obligations to policyholders.

• It is calculated as the excess of assets over liabilities.

• HDFC Life's AUM (Assets Under Management) is INR 1.5 trillion as of March 2021.

• A higher solvency margin indicates a stronger financial position of the insurance company.

Utmost good faith is a principle in insurance contracts that requires both parties to act honestly and disclose all relevant information. Principle of contribution states that if a person is insured by multiple policies, each insurer will pay a proportionate amount of the claim.

• Utmost good faith requires both parties to act honestly and disclose all relevant information

• It applies to all types of insurance contracts

• If one party fails to act in good faith, the other party may h...read more

Bancassurance is a partnership between a bank and an insurance company to offer insurance products to bank customers.

• Bancassurance allows banks to offer insurance products to their customers, providing a one-stop-shop for financial services.

• The insurance products offered can include life insurance, health insurance, and general insurance such as home and auto insurance.

• Bancassurance can be beneficial for both the bank and the insurance company, as it allows for increased reve...read more

Insurance pooling depends on the principles of risk sharing and spreading.

• Risk sharing: the cost of losses is shared among all members of the pool

• Risk spreading: the pool includes a large number of members to spread the risk

• Premiums are based on the expected losses of the pool

• The pool is managed by an insurer or a third-party administrator

• Examples: health insurance, auto insurance, property insurance