Insurance domain mishra

Insurance DOMAINS

Mishra 1

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

Mishra 3

• 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

Mishra 4

• 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

Mishra 5

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

Mishra 6

NEED OF DOMAIN cont…

• Mobile Application Testing• Wireless Application Testing• VOIP Application• Network Application

Mishra 7

TYPES OF DOMAIN

• Insurance• Banking• Mobile Banking• Health Care Domain• Dental Insurance• Retail

Mishra 8

TYPES OF DOMAIN

• Super Market• Protocol • Networks• Finance • CRM-SAP

Mishra 9

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

Mishra 10

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.

Mishra 11

INSURANCE

• Insurance is defined as the equitable transfer of the risk of a loss from one entity to another in exchange for payment

Mishra 12

INSURER

• INSURER is an Insurance Company selling the policy

Mishra 13

INSURED/POLICY HOLDER

• An Insured or Policy holder is the person or entity buying the Insurance Policy

Mishra 14

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

Mishra 15

HISTORY

• 2nd BC and 3rd BC• 16 AD

Mishra 16

TYPES OF INSURANCE

• Life Insurance (Long Term)• Non-Life Insurance (Short Term)

Mishra 17

TYPES OF INSURANCE

• By the Law of Insurance is in USA1. Unemployment Insurance2. Social Security 3. Worker’s Compensation

Mishra 18

CATEGORY OF INSURANCE

• Dental • Health• Life• Business• Residential• Transport/Communication• Other

Mishra 19

DENTAL

• It Covers Dental Benefits Capping

PolishingCrowing

Mishra 20

HEALTH INSURANCE

• Accidental Death & Dismemberment Insurance

• Disability Insurance• Total Permanent Disability Insurance• Long Term Care Insurance

Mishra 21

LIFE INSURANCE

• Permanent Life Insurance• Term Life Insurance• Universal Life Insurance• Variable Universal Life Insurance• Whole-Life Insurance

Mishra 22

BUSINESS

• Bond Insurance• Directors officers Liability Insurance• Error & Omission Insurance• Fidelity Bond• Professional Indemnity Insurance• Professional Liability Insurance• Protection & Indemnity Insurance• Trade Credit Insurance

Mishra 23

RESIDENTIAL

• Contents Insurance• Earth Quake Insurance• Flood Insurance • Home Insurance• Land Lords Insurance• Mortgage Insurance• Property Insurance

Mishra 24

TRANSPORT/COMMUNICATION

• Marin Insurance• Travel Insurance• Vehicle Insurance • Aviations Insurance• Satellite Insurance• Computer Insurance

Mishra 25

OTHER INSURANCE

• Causality Insurance• Crime Insurance• Group Insurance• Crop Insurance• Liability Insurance• No-Fault Insurance• Pet Insurance

Mishra 26

OTHER INSURANCE

• Re-Insurance • Terrorism Insurance• Wage Insurance• Weather Insurance• Worker’s Compensation

Mishra 27

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

Mishra 28

PREMIUM DETERMINATION

• The Frequency of Claims (how many)• The Severity (Cost of each Claim)

Mishra 29

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/

Mishra 30

CONCEPT OF INSURANCE

UNDERLYING ASSUMPTION• All 1000 house owners are exposed to

common risk i.e. FIRE

Mishra 31

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

Mishra 32

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

Mishra 33

INSURANCE/POLICYProcess

• Insurance Policy Administrations• Claims Process• Agency Process • Agent Process• Policy System• User Control System

Mishra 34

INSURANCE/POLICY PROCESS

• Data Import/Export Process• Policy Registration • Quotations Engine• Insurance Administration Process System • Content Process• Insurance Document Process • Insurance Accounting

Mishra 35

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

Mishra 36

FACTORS THAT INFLUENCE LIFE INSURANCE RATE

• Age• Heath Condition • Gender• Smoker• Life Style• Occupation• Type of Policy

Mishra 37

FACTORS THAT INFLUENCE HEALTH INSURANCE RATE

• Weight• Gender• Smoking Status • Family Medical History• Location• Material Status• Profession

Mishra 38

You can view video on YouTube

Mishra 39

QUESTIONS

Mishra 40

Thanks

Mishra 41