Insurance DOMAINS
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MISHRABusiness Analyst
Suntiara Softwww.suntiara.in
[email protected]+91 9912923179+91 9581271790
(INIDA)Mishra 2
DOMAIN
• It is a Subject• When we consider any software project we termed the subject as Domain e.g. Insurance, Banking
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• A Domain expert is the master of the A Domain expert is the master of the subject and he/she may know each and subject and he/she may know each and every concept of that every concept of that product/application.product/application.
• They have caliber to give advise to client They have caliber to give advise to client on any particular work area.on any particular work area.
DOMAIN EXPERT
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• Subject expert is that person who Subject expert is that person who have knowledge of a particular area have knowledge of a particular area where he/she may find out what where he/she may find out what need to do the against the issue if need to do the against the issue if any any
SUBJECT EXPERT
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NEED OF DOMAIN
• Why a Domain is need • What is use of Domain• Why tester may need of Domain Knowledge • What is difference between who have Domain
knowledge & other who didn’t
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NEED OF DOMAIN cont…
• Mobile Application Testing• Wireless Application Testing• VOIP Application• Network Application
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TYPES OF DOMAIN
• Insurance• Banking• Mobile Banking• Health Care Domain• Dental Insurance• Retail
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TYPES OF DOMAIN
• Super Market• Protocol • Networks• Finance • CRM-SAP
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ADVANTAGES OF DOMAIN KNOWLEDGE
• Reduce the Training Time• Good on Functional Flow Chart (Work Flow,
Business Process & Rule )• Good Idea on UI Features• Good Idea on Back- End Processing • Defect Tracking• Terminology
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INSURANCE
• What is Insurance Insurance, in Law and Economics is a form of
risk management primarily used to hedge against the risk of Contingent, Uncertain loss.
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INSURANCE
• Insurance is defined as the equitable transfer of the risk of a loss from one entity to another in exchange for payment
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INSURER
• INSURER is an Insurance Company selling the policy
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INSURED/POLICY HOLDER
• An Insured or Policy holder is the person or entity buying the Insurance Policy
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PREMIUM/INSURANCE RATE
• The insurance rate is a factor used to determine the amount to be charged for a certain amount of insurance coverage called the Premium
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HISTORY
• 2nd BC and 3rd BC• 16 AD
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TYPES OF INSURANCE
• Life Insurance (Long Term)• Non-Life Insurance (Short Term)
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TYPES OF INSURANCE
• By the Law of Insurance is in USA1. Unemployment Insurance2. Social Security 3. Worker’s Compensation
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CATEGORY OF INSURANCE
• Dental • Health• Life• Business• Residential• Transport/Communication• Other
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DENTAL
• It Covers Dental Benefits Capping
PolishingCrowing
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HEALTH INSURANCE
• Accidental Death & Dismemberment Insurance
• Disability Insurance• Total Permanent Disability Insurance• Long Term Care Insurance
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LIFE INSURANCE
• Permanent Life Insurance• Term Life Insurance• Universal Life Insurance• Variable Universal Life Insurance• Whole-Life Insurance
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BUSINESS
• Bond Insurance• Directors officers Liability Insurance• Error & Omission Insurance• Fidelity Bond• Professional Indemnity Insurance• Professional Liability Insurance• Protection & Indemnity Insurance• Trade Credit Insurance
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RESIDENTIAL
• Contents Insurance• Earth Quake Insurance• Flood Insurance • Home Insurance• Land Lords Insurance• Mortgage Insurance• Property Insurance
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TRANSPORT/COMMUNICATION
• Marin Insurance• Travel Insurance• Vehicle Insurance • Aviations Insurance• Satellite Insurance• Computer Insurance
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OTHER INSURANCE
• Causality Insurance• Crime Insurance• Group Insurance• Crop Insurance• Liability Insurance• No-Fault Insurance• Pet Insurance
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OTHER INSURANCE
• Re-Insurance • Terrorism Insurance• Wage Insurance• Weather Insurance• Worker’s Compensation
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WHAT IS USE OF PREMIUM TO THE COMPANY
• 3 thing do• 1st Pool out the money to pay claims• 2nd Insurance Companies pay for Expenses involved in selling and providing insurance
protection • 3rd Insurance Companies invest money
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PREMIUM DETERMINATION
• The Frequency of Claims (how many)• The Severity (Cost of each Claim)
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CONCEPT OF INSURANCE
• Example- Home Insurance House in village= 1000Value of House= Rs.80,000/House Burning in a Year=10Total amount loss due to fire = Rs. 8,00,000/Contribution of each house owner= Rs.800/
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CONCEPT OF INSURANCE
UNDERLYING ASSUMPTION• All 1000 house owners are exposed to
common risk i.e. FIRE
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CONCEPT OF INSURANCE
• Procedures All owner contribute Rs 800/ each as premium
to the pool of funds total value of the fund Rs. 8,00,000( each 1000
house* 800)10 house get burnt during the yearInsurance company pays Rs 80,000/- out of the
pool to all 10 house owner whose house get burnt
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CONCEPT OF INSURANCE
• Effect of Insurance Risk of 10 house owners is spread over 1000
house owner in the village thus reducing the burden on any one of the owner
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INSURANCE/POLICYProcess
• Insurance Policy Administrations• Claims Process• Agency Process • Agent Process• Policy System• User Control System
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INSURANCE/POLICY PROCESS
• Data Import/Export Process• Policy Registration • Quotations Engine• Insurance Administration Process System • Content Process• Insurance Document Process • Insurance Accounting
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BENEFIT OF INSURANCE
• Insurance Work-Risk +Static's= Peace of Mind• Insurance Company were developed to take
your Risks• Insurance Covers every thing we do
House Hold InsuranceMedical, Motor, Travel, Pet etc
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FACTORS THAT INFLUENCE LIFE INSURANCE RATE
• Age• Heath Condition • Gender• Smoker• Life Style• Occupation• Type of Policy
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FACTORS THAT INFLUENCE HEALTH INSURANCE RATE
• Weight• Gender• Smoking Status • Family Medical History• Location• Material Status• Profession
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You can view video on YouTube
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QUESTIONS
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Thanks
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