1MHG (Message Header Group) The 1MHG (Message Header Group) is the very first structural group that appears before any transaction in an AL3 message. Its primary functions include: 1. Logical [...]
Risk is the uncertainty that a loss may occur. Pure Risk mean it is certain that gain cannot be made out of the situation - only loss or no [...]
This post tries to give a short introduction to most of the core features inside an Agency Management System. It is compiled based on our experience of developing multiple [...]
Employee / Group Benefits A group health plan/insurance policy bought by an employer or by an employee organization (such as a union), or both, for its employees or participants [...]
Mapping signature image to ACORD FORM In most of the ACORD forms we’ve Authorized signature box in which we fill the name of some Authorized person and we can [...]
Anybody who produces sales of insurance products is a Producer or Insurance Agent. But based on their mode of working, they can be classified into different types. Independent Insurance [...]
Property and Casualty insurance (or P & C as it is usually called), are the types of insurance that cover the following: Property - Property insurance protects the insured [...]
Suppose someone has a medical insurance policy from an insurer. He visits hospital and bill is of $25. He claims it from the insurance company. Company pays but they [...]
Policy Downloads is the process of bringing policy related information and transaction details from Insurance Carriers into agency management system in use by the agency. An insurance agency can [...]
When polices are downloaded from carriers (like through IVANS downloads, EBix Team-up Downloads or other 3rd party download applications) what should be done with each policy? Basically policy download [...]
Indemnity in insurance means in case the loss (financial or death) happens the insurer has to bring the state (in whole or part) of the insured back to what [...]
Insurable interest means if the person who wants insurance to be done has any interest in the item being insured or not. For example a human being has natural [...]
Law of Large Numbers is the basis for successfully running Insurance Business. If historical data is collected for several years for life insurance for example and the information like [...]
