Question

Car Insurance XYZ, a car insurance company, currently handles car insurance policies manually, which is a time-consuming process. To streamline this process, they need to automate it. Help them to solve this. Create a Carlnsurance class with private attributess"make", "model", "year", and "premium", and a constructor that takes in these attributes as parameters. It also has a method called "calculatePremium" that takes in the age of the driver and the number of tickets they have received as parameters, and calculates a new premium based on these factors. Finally, it has a "printDetails" method that prints out the car's information. Attributes: private String make; private String model; private int year; private double premium; Methods: public double calculatePremium(int age, int tickets) public void printDetails() Note If the driver's age is below 25 years, then an additional premium of 1000 rupees will be added to the newPremium amount. In case the driver has received one or more tickets, a charge of 500 rupees will be added to the newPremium amount for each ticket. If the driver's age is below 25 years, then an additional premium of 1000 rupees will be added to the newPremium amount. In case the driver has received one or more tickets, a charge of 500 rupees will be added to the newPremium amount for each ticket. Input format First input is a String which represents make. Second input is a String which represents model. Third input is an integer which represents year. Fourth input is a double which represents premium. Fifth input is an age of the driver Sixth input is a number of tickets Output format Refer sample output. Output 1 Make: Toyota Model: Camry Year: 2018 Premium: 5000.0 New Premium: 7000.0 Output 2 Make: Toyota Model: Camry Year: 2018 Premium: 5000.0 New Premium: 5000.0

Answer 1

A CarInsurance class with private attributes (make, model, year, premium) and a constructor to initialize them is created to automate the car insurance process. Methods calculatePremium and printDetails help calculate new premiums based on factors like age and tickets and print car information respectively, which streamlines risk assessment in the insurance industry.

Step-by-step explanation:

Understanding the need for automating processes in the insurance industry is essential as it often involves a complex array of decision-making based on various factors such as the age of the driver, number of tickets, and type of vehicle. Automating these processes not only saves time but also ensures accuracy and fairness in car insurance rate determination. By creating a CarInsurance class, we can encapsulate the necessary attributes (make, model, year, premium) within private variables and provide public methods like calculatePremium and printDetails to process and display information effectively. The logic for calculating the premium takes into account the additional risk associated with younger drivers under 25 and those with tickets, increasing the premium accordingly.

For instance, if a driver under 25 with no tickets is using the CarInsurance class, the calculatePremium method would add an extra 1000 rupees to the base premium. If the same driver has two tickets, an additional 1000 rupees for age and 1000 rupees for the tickets (500 rupees each) would be added, reflecting the increased risk. This method of risk classification is vital to ensure that premiums are proportional to the risk level of the driver, which is a common practice in the insurance industry.