Insurance domain mishra

Insurance DOMAINS

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MISHRABusiness Analyst

Suntiara Softwww.suntiara.in

mishraba108@gmail.com+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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