Hi everyone, What is your understanding of business mix/ mix of business? Based on Google search: A business mix is a combination of products or services the company sells, activities it’s engaged in, or customer groups it targets. Often, a diversified business mix means higher stability and lower risks. But throughout the exams I have tried to take, business mix only means: - The customer groups it targets (insured person, location, etc) For example, in SP8 April Exam question 3, the solution does not provide any thing about combination of products/ services. Could you help me clarify? Thanks very much,
Google's definition is broadly ok, but it isn't really talking about general insurance. Your own description of business mix is fine.
