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Blue Cross Blue Shield Association

Health Insurance, United States, Illinois, Chicago

Transforming healthcare with innovative insurance solutions and personalized wellness programs to improve lives and communities.

About Blue Cross Blue Shield Association

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Basics

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Founded
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Total Employees
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Employees on Linkedin
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Employees on OWCareers
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Main Office
United States of America, Illinois state
Official Website
http://www.bcbs.com
Location Address Official Phone Email
United States of America, Illinois state United States, Illinois, Chicago **** ****
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FAQs – Blue Cross Blue Shield Association

What is a "cession" in facultative reinsurance?

A cession in facultative reinsurance refers to the process in which the ceding insurer transfers a portion of its risk exposure to the reinsurer. The insurer cedes a part of the premium and risk in exchange for reinsurance coverage on that specific policy.


What data sources are used for parametric insurance policies?

Common data sources include weather stations, satellite imagery, seismic monitors, government agencies, and third-party data providers that track real-time environmental and economic conditions.


How do actuaries determine insurance premiums?

They analyze historical data, assess risk exposure, consider market conditions, and apply statistical models to set fair premiums.


If my baggage is lost while traveling for work, does my employer’s insurance cover it?

Some corporate travel policies cover baggage loss for business travelers. Check with your employer’s insurance provider, as coverage may be more extensive than personal travel insurance.


How does UBI differ from traditional auto insurance?

Unlike traditional insurance, which calculates premiums based on general risk factors like age and location, UBI uses real-time data, rewarding safe drivers with lower rates and penalizing risky behavior.


Can moral hazard be completely eliminated in insurance?

No, but insurers can reduce it through deductibles, co-payments, claims monitoring, and incentives for responsible behavior.


What is the best way to start an actuarial career?

To start, pursue a degree in actuarial science, mathematics, or finance, pass the first actuarial exam, gain internship experience, and develop programming and analytical skills. Networking and joining actuarial societies also help career advancement.


When was IRDAI established?

IRDAI was established on 19th April 2000 under the provisions of the Insurance Regulatory and Development Authority Act, 1999.


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