The software application in life insurance categorizes three types of data of operational offices engaged in the procurement and servicing of policies.
1) Accounting module; The billing details contain the name and address, policy number, premium payment and installment details. Receipts and other accounting notices are printed in the module.
2) Policy module: This module contains the name, address and policy number, installment premium details, agency code number, commission payment details and coinsurance and reinsurance details.
3) Claims module: It contains the master records that has the necessary information for assessing the liability of the policy for a claim made and also the liability under the policy at any point of time.
The software application is made possible by electronic data processing and are designed by tools using Structured System Analysis and Design (SSAD).
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