Insurance companies use transaction categories to track every stage of a policy’s lifecycle. Each code represents a specific event—whether it’s starting, updating, renewing, canceling, or auditing a policy. Here’s a [...]
Introduction Commercial Property Policy is defined as an insurance policy for businesses and other organizations that covers damage to their buildings and contents due to a covered cause of [...]
What is Insurance? Insurance is defined as a contract in which an individual or organization receives financial protection and reimbursement of damages from the insurer or the insurance company. [...]
Introduction A Package Policy is a type of insurance policy that usually includes more than one kind of insurance coverage. The most common Package Personal Insurance Policy combines property [...]
Introduction As we know, “marine insurance” is a coverage policy that covers products when transported over water. Unlike marine insurance, inland marine insurance covers goods, materials, and equipment when [...]
Auto policies mostly come with a higher deductible for collision than for "other than collision" losses (OTC or comprehensive coverage). Insurance companies know that you will have a greater [...]
Introduction A commercial package policy abbreviated as CPP is an insurance policy that combines coverage for multiple hazards, such as liability and property risk. This coverage policy provides businesses [...]
Introduction Property insurance is a comprehensive term used for a list of policies that provide either assurance coverage or liability coverage for property owners. This coverage policy provides financial [...]
Introduction to BOAT Personal Insurance Marine insurers providing boat and yacht insurance offer a wide range of coverage physical damage and liability. Accidental loss or damage to the boat [...]
Home personal insurance is a class of property insurance. It pays for the losses and damages to an individual's residence, along with furnishings and other valuable things in the [...]
Introduction When anybody wants to purchase any health-related policy from an insurance company, the insurance company needs to know how healthy the person is at the time he/she signs [...]
Policyholder Surplus If we subtract liabilities of a policyholder-owned insurance company from its assets, we get the Policyholder surplus. The financial strength of a company can be determined through [...]
* Outsource your P&C Software to Expert Developers Insurance distribution Channels: Distribution is the process of delivering your products or services to your target markets. Distribution channels are key [...]
