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What is a policy rating tier?

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What is a policy rating tier?

My question is taken from aramex insurance

I had been asked this question during a job interview.

Other related questions to my question are:

What is policy rating tier?

What is an insurance tier?

What are the different tiers in car insurance?

What does it mean to be rated for car insurance?

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Right answer is: You may be asking, “What is an insurance tier score?” This is a credit rating utilized by insurers to assess any potential customer's level of risk. With this information, they then determine how much the potential policyholder's monthly insurance premium will be.Sep 27, 2021

The title of my answer is Car Insurance Tier System

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