Insurance Management System
Abstract:
Life insurance system automates the management of life insurance activities, which involves Defining Policies, Schemes, Policy Specifications, Policy Terms and Conditions, Policies registrations by the customers, Facilitates the Premiums Flexi-Pay modes, Policy Bonus in Flexible periods.
The Agents are involved in the process of the Customer Policy registration and the Commissions are based on the targets achieved by the Agents.
Life insurance System also maintains the database of the Branch Managers who deals with the Agents which in turn deals with the Customers.
Existing system
Before developing this application all activities done manually, then all the activities take more time and also take more manpower. Commission, interests, dues calculate manually, based on this manual problem sometimes calculate the wrong
All related information passed one branch to another branch through courier. Some times missed the important documents. So these problems overcome when we will develop the system. This system is very helpful to automation of entire life insurance system and also reduces the time and manpower.
Users of the system:
The users of the system are company chairman, Branch Managers, Customer, Agents. This system is designed such a way that the users can easily interact with the system with minimum knowledge.
PROBLEM DEFINITION AND FEASIBILITY ANALYSIS
Definition of the problem
To create or develop a new system first we have to study the prior system, Analysis difficult problems faced by the operator of that system. System Analysis therefore understands such problems and proposes a new system in which the above problems are rectified.
Hardware and Software Specifications
The development of this project deals with the following environment
· Hardware requirements
· Software requirements
Hardware Requirements:
The selection of hardware is very important in the existence and proper working of any software. In the selection of hardware, the size and the capacity requirements are also important.
The Web Based Manufacturing System can be efficiently run on Pentium system with at least 128 MB RAM and Hard disk drive having 20 GB. Floppy disk drive of 1.44 MB and 14 inch Samsung color monitor suits the information system operation.(A Printer is required for hard copy output).
· Pentium processor -------- 233 MHZ or above
· RAM Capacity -------- 256MB
· Hard Disk -------- 20GB
· Floppy disk -------- 1.44 MB
· CD-ROM Drive -------- 32 HZ
Software Requirements:
One of the most difficult tasks is that, the selection of the software, once system requirement is known is determining whether a particular software package fits the requirements. After initial selection further security is needed to determine the desirability of particular software compared with other candidates. This section first summarizes the application requirement question and then suggests more detailed comparisons.
· Operating System -- Windows 98/NT/2000
· Browser -- IE
· Web/Application Server -- Tomcat Server
· Database -- Oracle
· Database Connectivity -- JDBC
· Java Technologies -- Java (Servlets, jsp, java
Beans)
· Scripting Technology -- Java Script
Modules Description:
The entire system is divided into 4 modules
1. Chairman
2. Manager
3. Agent
4. Customer
1. Chairman
The Chairman is the Super User of the System. The Chairman is responsible for the defining the Policies, Policies Terms and conditions, Policies Amounts, Face Amounts, Establishing the different branches, Registration of the Branch Managers.
The Policies Definition includes the Policy Interest Rates, Policy Bonus Rates, Policy Bonus Period , Policy Term.
The Chairman also defines the Policy Commission Rates for the Agents who involves in the Customer Policy Registration Process.
The Chairman is responsible for the
§ Defines Policies and Schemes
§ Branch Establishments
§ Recruits Branch Managers
§ Defines the Policy Terms and Conditions
§ Defines the Policy Specifications
Reports:
· Policy Details
· Branch Manager details
· Agents Details
Customer details
- Manager
The Managers of the different branches recruits the Agents and also registration of customers. He is also responsible for registration of Policies, calculate the premium amounts, interests, dues, bonus and also agent Commission. Bonus calculate based on the payment of premiums. The Manager also responsible for calculate the Agent Commission based on Agent performance.
The Manager is responsible for the
· Manages the Agents
· Customer Registrations
· Customer Policy Registrations
· Customer Premium Payments
· Customer Bonus
· Agent Commission
Reports
· Policy details
· Agent Commission
· Customer Details
· Policy Details
- Agents
The main role of Agents is to registration of the
Customers. Agents just like a mediator between life insurance system and Customers. Based on their performance they will get commission. These systems provide a facility to Agents like to visible their Commission and also their customer details.
The responsibilities of the Agents as follows
· Involves in the Customer Policy Registration Process
· Agent Personal Details
· Manager Details
- Customer
The Customers are a main source of this system. Based on his interest and benefits, he takes a policy. Customers also take more than one policy based on their requirement. Here so many facilities are provided to the Customers, like their information visible on line, like premium dates, bonus dates, personal details, policy details.
The responsibilities of the Customers as follows
- Customer Premium Dates
- Customer Bonus Dates
- Customer Personal Details
- Customer Policies Details
Design Description
Design is essentially a blue print or it acts as a bridge between the requirement specification and the final solution for satisfying the requirements.
Based on the work-flow described above we can draw the following conclusions for the Software System that has to be developed:
- The System needs to be a web-based system so that it allows the Chairman, Branch Managers, Agents, and Customers to access the company database over the Internet.
- Being a web-based system also enables the Company staff to communicate with other users.
- An added advantage is chairman communicate with other employees over the net since there could be instant responses from the Suppliers.
- The whole process depends on communications between Chairman & the Manager, and between Customers & the Agents. If all these communications are done through a web-based system, then the time period for the whole process can be considerably brought down.
The System needs to store the Company details.
- The System needs to store the details of all the Premiums that are available of the company.
- The System needs to store the details of all the Customers held in the Company warehouse.
- The System needs to store the details of all the Agents held in the Company.
- The System needs to store the details of all the Branch Managers details.
- Since it is a web-based system, a Login authorization should be provided so that Chairman, Managers, Customers and Agents will be able to lookup & use options that are specific to them.
- The System should allow the Agents to enter their Statistics.
- The System should allow the Customers to visible their next premium dates, bonus, dues and related information.
- The System should provide an option to generate a Customers Report and estimated of company business.
· The System should provide an option to generate a Agents Reports, with the help of these reports estimate of their performance
· For the above to take place the system should store the Premium details of the Customers. If any future modification required, easily modify the Customers details.
- The System should provide an option that all customers are visible to latest Policies and their specifications. This facility is very help to Customers to see the all information through on line.
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