ILP Life Insurance Case StudyV1.1(C67900)

8/3/2019 ILP Life Insurance Case StudyV1.1(C67900)

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Life Insurance Quote System

Overview:LIFE INSURANCE COMPANY of WEST is developing online quoting systems to onlinecustomers and to support their sales force in selling the products. Initially company

wanted to create online quoting system only for Term life insurance.Term life insurance product - Life insurance coverage is applicable for a particularterm selected at the time of creating policy. Policy will be renewed until the term ofthe policy as long as the premiums are paid on time. If 22 year old person take 5year term insurance with an yearly premium of $100 with the insurance coverage of$50,000, then as long as customer pays the yearly premium member will be coveredunder the insurance for 5 years. During this term member need not prove hisinsurability.

Assumptions & ConstraintsFollowing are the assumptions and constraints that is used for outlining theFunctional requirements and there by the system behavior.

1. Assumptions

Every Customer/Agent are familiar with Insurancebefore they fill or apply for Insurance Policy

Quote Id is an identity column .

Appropriate control should be taken to create UserInterface

Always use light weight control to display the datawhere it is required

Customer_id should be primary key (pk) in PersonalInformation table and it should be used as a foreign key forhealth information and quote tables

quote_id will be the primary key for quote table.

All the coverage and premium related info will be stored in

quote table

2. Constraints

Look-up data where ever applicable should beloaded from the database.

For example Policy Term data with5,10,15,20,25

Annual Premium should be read only field in

Premium Calculation Screen Before Save and delete of any Information in System

confirmation must be taken from customer.

3. Premium Calculation

Premium calculation involves.

a) Determine Tobacco Risk Class and BMI Risk Classb) Determining Final Risk Classc) Calculation of base premium for amount of insurance(SumAssured/Term per year)d) Multiplying the base premium in step c with Age factor


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e) Multiplying the base premium in step d with Risk factorf) Multiplying the premium in step e with Term factor

Determine Body Mass Index (BMI) risk class:

Calculate BMI using the formula

CategoryBMI range kg/m2 BMI Prime

Mass (weight) of a 1.8 metres(5 ft 11 in) person with this BMI

BMIRiskClass

Severelyunderweight less than 16.0

less than0.66

less than 53.5 kilograms (8.42 st;118 lb)

E

Underweightfrom 16.0 to18.5

from 0.66 to0.73

between 53.5 and 59.9 kilograms (8.42and 9.43 st; 118 and 132 lb)

C

Normalfrom 18.5 to25

from 0.74 to0.99

between 60 and 80.9 kilograms (9.4and 12.74 st; 130 and 178 lb)

A

Overweight from 25 to 30from 1.0 to1.19


B

Obese ClassI from 30 to 35

from 1.2 to1.39


D

Obese ClassII from 35 to 40

from 1.4 to1.59


F

Obese ClassIII over 40 over 1.6 from 130 kilograms (20 st; 290 lb)

G

Ref: http://en.wikipedia.org/wiki/Body_mass_indexNote :BMI RiskClass is the new column added to the table from wiki

Determine Final Risk Class:

Determine the final risk class using the following table:

BMIRiskClass

TobaccoRiskClass

Final RiskClass

EA

BelowAverage

E B Poor C A Average

CB

BelowAverage

A A Superior

A B Average

B A Average

B B Below
http://en.wikipedia.org/wiki/Body_mass_indexhttp://en.wikipedia.org/wiki/Body_mass_index


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Average

DA

BelowAverage

DB

BelowAverage

F

A

Below

AverageF B Poor

G A Poor

G B Poor

1.1.1.1 e

Risk

Factor

Final RiskClass Factor

Superior 0.8

Average 1

Below

Average 1.5Poor 2

1.1.1.2 f

TermFactor

InsuranceTerm Factor

5 1

10 1.1

15 1.2


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20 1.3

25 1.4

30 1.5

1.1.1.3 d AgeFactor

Age Factor

18-30 1

31-40 1.1

41-50 1.3

51-60 1.5

60-70 2

User CharacteristicsCustomer will be performing all the CRUD operation and to do the same he shouldbe familiar with Insurance Domain, Customer can independently fill all the requireddetails online for the Insurance policy.

ModulesThe entire system is divided into three module.

1. Home Screen

Collects and updates Personal information of customer

Allows the user to view his previous quotes

Updates Personal Information of the Customer

2. Risk Screening It collect the health details of the insured

3. Premium Calculation

It Collect the details of term of coverage and amount of insurance

Module1: Home Screen

CRUD 1: Personal Information Section

CRUD Operation 1: Add Customer Information Details

Primary user/s :Customer

Primary user action/s :Customer need to provide Name, DateofBirth, EmailId,Annual Income,Address,Contact Number,Genders before he save his personalInformation to be insured.

Associated users :N/A

Input Criteria: As mentioned in the description column of Data Requirement.

Output or success guarantee: System should display an appropriate messagein a Message Box after saving the information details successfully.

Data requirements :


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Data ElementName

Format Description

Name Alpha Numeric 20

Spaces accepted

DateOfBirth(DO

B)

Date DD-MMM-YYYY (Date

Selection Box)

Email ID Character Should be valid email id

Annual Income Numeric

Address Character

ContactNumber

Character

Genders Character Male/Female

Possible exception/error scenarios :N/A

UI requirements:

CRUD Operation 2: Edit/Update Customer


Primary user action/s: First Customer need to search his Quote by providinghis Name and Email Id, if customer exist it will populate the customerinformation on screen where customer can edit the changes and can save theUpdated data.

Associated users : N/A

Input Criteria- :as mentioned in the description column of Data Requirement.

Output or success guarantee: System will display a message Box aftersaving the information details is updated successfully.

Data requirements :

Data ElementName

Format

Description


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Name Alpha Numeric 20 Spaces accepted

DateOfBirth(DOB)

Date DD-MMM-YYYY (DateSelection Box)


Annual Income NumericAddress Character

ContactNumber

Character



UI requirements:

CRUD Operation 3: Clear All/Delete


Primary user action/s :Customer can Clear All/Delete his Information detailsfrom the given UI/Screen, if he has not saved a Quote


Input Criteria:as mentioned in the description column of Data Requirement.

Output or success guarantee : System will display a message Box afterdeleting the information details successfully.

Data requirements :

Data ElementName

Format Description


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Name Alpha Numeric 20 Spaces accepted

DateOfBirth(DOB)



Annual Income NumericAddress Character

ContactNumber

Character


Possible exception/error scenarios:N/A

UI requirements:

CRUD Operation 4 : Search


Primary user action/s :Customer will provide email id and name to search hisquote


Input Criteria:Both email id and name is mandatory

Output or success guarantee : Display all existing quotes of customer

Data requirements :

Data ElementName

Format Description

Customer Name Alpha Numeric 20 Spaces accepted


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Quote Id Numeric Identity column

Policy Term Numeric

CalculatedPremium

Numeric In INR

Possible exception/error scenarios : Display appropriate error when thecustomer doesn't exist.

UI requirements: Display all existing quotes and other Information requiredin an appropriate control.

CRUD Operation 5 : Proceed

Primary user/s:Customer

Primary user action/s: Fill all the required information on screen to Moves tothe Risk Screening Module only if Personal information is saved successfully.

Associated users: N/A

Input Criteria:As mentioned in the description column of Data Requirement.

Output or success guarantee :Risk Screen should be display.

Data requirements :

Data ElementName

Format Description

Name Alpha Numeric 20

Spaces accepted

DateOfBirth(DOB)



Annual Income Numeric

Address Character

ContactNumber

Character


Possible exception/error scenarios : N/A

UI requirements:


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Module 2: Risk Screening

CRUD 1:Risk Screening

CRUD Operation 1: Insert/Save Customer Health Information Details

Primary user/s : Customer

Primary user action/s :Customer need to fill all the data required in the Riskscreen to save.


Input Criteria-:as mentioned below in description column of data requirement

Output or success guarantee :After inserting data successfully in system aMessage Box should be displayed with appropriate message.

Data requirements :

Data Element &Description

Format Description

Decease - Do you have acancer, diabetes,depression or heartdecease?

character Yes/No

Smoker - Are you asmoker or use any othertobacco substitute?

Yes/No

Hereditary Decease-Have your father ormother died of Cardiovascular Decease?

numericYes/No

Height - What is yourHeight?

numeric 60 to 300(Centimeters)

Weight - What is yourWeight?

numeric [Free Text Box ] Kgs

Numeric between 10-200


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Possible exception/error scenarios :

UI requirements:Radio Button required for collecting first three input in thegiven screenand Drop Down box for taking height and weight which should be a look-up

value from database table.

CRUD Operation 2: Edit/Update

Primary user/s:Customer

Primary user action/s : to load and Make the necessary changes as per hisrequirement and press Save button to update the changes made in theexisting customer health information.

Associated users :Insurance agent

Input Criteria-as mentioned in the description column of Data Requirement.

Output or success guarantee :If correct Name and email Id is provided itshould loads the customer health details successfully in the above givenscreen else display the appropriate error in a Message Box

Data requirements :


Format Description

Decease - Do you have acancer, diabetes,depression or heart

decease?

character Yes/No


Yes/No


numeric Yes/No


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UI requirements:

CRUD Operation 3: Delete Customer health Information


Primary user action/s : Customer can delete his existing health informationfrom system.


Input Criteria- :As mentioned in the description column of Data Requirement.

Output or success guarantee :Display the appropriate message in messagebox on successfully deleting the data.

Data requirements :


Format Description

Decease - Do you have acancer, diabetes,depression or heart

decease?

character Yes/No


Yes/No


numeric Yes/No


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Possible exception/error scenarios:N/A UI requirements:

CRUD Operation 4 : Proceed

Primary user/s :Customer Primary user action/s :

It will take user to Premium calculation screen which will collect detailsof term of coverage and amount of insurance

Load all the look up values from database as mentioned in thedescription column of Data Requirement.

Associated users : Insurance agent

Input Criteria- : As mentioned in the description column of Data Requirement.

Output or success guarantee :Should display Premium Calculation Screen

Data requirements :

Data ElementName

Format Description

Policy Term numeric 5,10,15,20,25 in Years

Amount ofInsurance

numeric Numeric With Min value25,000 INR

Max Value


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10,00,00,000 INR


UI requirements:

Module 3: Premium Calculation

CRUD 1 : Premium Calculation

CRUD Operation 1: Calculate Premium


Primary user action/s : Customer need to select Policy Terms( i.e No of Years)and need to enter Amount of Insurance(in INR) he want. Calculate is there tosee the annual premium he need to pay and if he agrees with that Premiumamount, he can save and Quote or he can just save the Quote informationwithout Premium calculation by using save and exit and to just finalize thequote he need to accept the quote.

Associated users: N/A

Input Criteria- Customer need to fill insurance amount and no of years policyhe wantsas mentioned in the description column of Data Requirement the age + term

of the coverage should not exceed more than 80 years, If the members age is 70then we shouldnt display the terms above 10 years.

Output or success guarantee :Calculate the annual premium and display it inannual premium column provided.

Data requirements

Data Element

Name

Format Description

Policy Term Numeric 5,10,15,20,25 in Years

Amount ofInsurance

Numeric Numeric With Min value25,000 INR

Max Value10,00,00,000 INR


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UI requirements:

CRUD Operation 2: Save & Exit


Primary user action/s : Customer need to execute Save&Exit to save Quote

data and exit the system without Premium calculation Associated users :Insurance agent

Input Criteria- Customer need to select Policy Terms( i.e No of Years) andAmount of Insurance(in INR) he want. as mentioned in the description columnof Data Requirement.

Output or success guarantee : When Customer press Save&Exit system mustsave the Quote and exit the system.

Data requirements :

Data Element

Name

Format Description


Amount ofInsurance




UI requirements:


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CRUD Operation 3: Save & Quote


Primary user action/s :Customer should press Save & Quote button to savethe Information and calculates the premium

Associated users :Insurance agent

Input Criteria- : Customer need to select Policy Terms( i.e No of Years) andAmount of Insurance(in INR) he want as mentioned in the description columnof Data Requirement

Output or success guarantee :It should Insert the Quote and should calculatethe premium and should display the appropriate message in message boxupon saving the data successfully.

Data requirements :

Data ElementName

Format Description


Amount ofInsurance





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UI requirements

CRUD Operation 4 : Accept Primary user/s :Customer

Primary user action/s : Customer will press Accept button to finalized Quotedata and make it non-editable

Associated users N/A

Input Criteria- Customer need to select Policy Terms( i.e No of Years) andAmount of Insurance(in INR) he want. as mentioned in the description columnof Data Requirement

Output or success guarantee : The Quote status should be finalized and thedata should be non-editable.

Data requirements :

Data ElementName

Format Description


Amount ofInsurance




UI requirements:


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CRUD Operation 5 : Delete


Primary user action/s : User can delete quote data only if quote is notaccepted.

Associated users :N/A Input Criteria- : All the Input criteria are mentioned in the description column

of Data Requirement

Output or success guarantee : It should Deletes data from quote table if quoteis not accepted and should display the appropriate message .

Data requirements :


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Data ElementName

Format Description


Amount ofInsurance Numeric Numeric With Min value25,000 INR

Max Value 10,00,00,000INR

Possible exception/error scenarios :

UI requirements:

Date post:	06-Apr-2018
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ILP Life Insurance Case StudyV1.1(C67900)

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