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 [...]
Personal Lines Insurance - Introduction and Types Personal lines insurance covers insurance products related to casualty and property that protect individuals from losses they couldn’t afford to cover on [...]
Purpose and some important Fields of Acord 27 form (Evidence of Property Insurance) ACORD 27 form provides information about the coverage statement for mortgagees and loss payees who provide [...]
STARR has a full form in insurance. It is Share, Transfer, Avoid, Reduce and Retain. STARR is related to Risk Management. One can share risk (like group insurance so [...]
Avoiding Risk is very different from Reducing Risk. Let's understand it with an example. Suppose James has a car and has an insurance policy for it. James double checks [...]
In Insurance, a Hazard is something that increases the risk of occurrence of loss. For example driving recklessly, living near the forest that catches fire every summer, bad intentions [...]
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 [...]
