What is a Motor Vehicle Report(MVR)?
A motor vehicle report also abbreviated to MVR is the driving record of an individual. It is a history, maintained by the state’s DMV(Department of Motor Vehicles), of any past accidents or moving violations a driver has had, as well as serious vehicular crimes, like a DUI/DWI conviction.
An MVR of a driver plays a vital role during insurance. Insurance companies believe that a person’s previous driving record is a good predictor of his/her future behavior of driving. It can also be assumed that people with […]
Almost all businesses with employees are legally obligated to take reasonable care to assure that they provide safe workplaces to their employees. Nevertheless, mishaps happen. Handling the expense and effort of meeting statutory obligations to workers who are injured or ill due to workplace exposure is an ever-present challenge to all businesses. The workers’ compensation insurance policy is a primary method by which an employer shows its ability to meet the obligation imposed by workers’ compensation laws. This policy helps a business owner to provide legal liability coverage for reimbursement to employees for bodily injury or […]
Azure Serverless Architecture:
Serverless architecture is also known as Serverless Computing or Function as a Service(FaaS)/Backend as a Service(BaaS) depending on its utility.
Backend as a service (BaaS): The back-end cloud services (databases and storage) provide client applications with the APIs to connect directly to their services.
Functions as a service (FaaS): A function is a piece of code that is deployed on the cloud and is being run on a hosting environment, hence providing a layer of abstraction from the server running that code.
The serverless applications are hosted […]
Admitted and Non-admitted Assets
Admitted and non-admitted assets are the classifications of assets generally used by the insurance companies. For reporting of financial data, insurance companies use statutory accounting (STAT) set by the National Association of Insurance Commissioners (NAIC).
Risk is handed over to reinsurers by insurance companies in order to lessen their vulnerability to the risks connected with the policies that they endorse. The reinsurer is provided a fee, often a share of the premium in exchange for taking on some of the insurer’s risk. Thus, the reinsurer is responsible for claims made up […]
There is one s3 bucket named content-webners which contains two directories named open (which contains publicly accessible contents) and another is secure (which contain protected HTML based contents)
Below are the credentials for above s3 bucket:
For read-only access
Access key ID: AKIAJ5TPX7FTP5KD94VQ
Secret access key: qpYo/f67eIJE8r4zNjYNlnarzJPGg1zBqmJgkI/f
For read-write (Full access)
Access key ID: AKAIWCGN79DJZQONSTYQ
Secret access key: fc5ksjHDmiSkDhPX3GZhoOtIS4yK9oODNuDrpgZ6
Below is the Bucket policy implemented to protect content in bucket when using s3 URLs
What is a P&C insurance company?
They are insurance companies that insure the property owned by individuals like a car or house or literally anything under the sun. However, the premium cost is decided after thorough research, where the risk-prone things are insured at higher costs as opposed to the things that are at a comparatively lower risk.
Now that we know what a P&C insurance company is and we have already discussed how they make profits. Let us ponder on the strategies adopted by these companies that make them profitable. Apart from those policies […]
Introduction to the concepts
In our daily lives, we come across these terminologies and tend to think that they mean one and the same thing. However, we must draw and bolden the razor-thin line between the two seemingly similar concepts. Their applicability and epistemology changes with their meaning. In this blog, we will be discussing the meaning of both Solvency and Liquidity. Apart from that, we will also understand what they mean in Accounting and Insurance terms.
It is the ability of any firm or an organization to repay/service its short-term debts […]
Suppose you get into a car accident and injure someone else. Bodily injury liability will cover the expenses involved in treating that person. This insurance coverage not only pays for the hospital bills but also for the lost income as a result of the accident. It will also cover the legal fees, should the third party involved sues you for that. In this article, we will discuss the details of what this liability means for the insuree and why is it significant.
What Does Bodily Injury Liability Cover?
There are basically three types of coverage […]
Salesforce Accelerators are 1-on-1 coaching sessions given by deep knowledge experts. Each Accelerator functions on one particular topic, and length varies from 2-15 hours across multiple weeks. All Accelerators have common elements.
1-on-1 engagement: You as an individual or in a team will directly work with the specialist to make your situation understand and get relatable advice on it.
Tangible deliverables: You will get some sort of tangible deliverable, like a sample report or configuration plan.
Advisory: The majority of Accelerators are for your advice and not to work […]
Introduction to Reinsurance
We have already discussed How Insurance Companies Make Profit? But what if there is a situation where an insurance company fails to make profits or a natural disaster results in a large-scale loss that insurance company runs the risk of bankruptcy? That is where the concept of Reinsurance comes in.
Reinsurance simply means insurance for insurance companies. It is an agreement between the insurance and Reinsurance company that indemnifies the contract between both parties. It is used as cushion money against any sort of emergency, be it natural disaster resulting in a financial loss […]
Introduction to Salesforce
A salesforce is a software for online CRM. The salesforce provides the facilities to manage your company and employee relationship. With the help of Salesforce, you can directly interact with employees and analysis their potential or performance. With its help, You are also able to see your company’s growth. The salesforce is available for all departments like Marketing, sales, and commerce, etc. The salesforce integrates with any software easily, the outlook is one of them. In this scenario, we will see the method of salesforce for outlook installation.
How to install Salesforce for […]
Amazon Elastic Compute Cloud (Amazon EC2) is a web service that offers a resizable compute capacity on cloud (customer can scale up and scale down the computing capacity). Amazon EC2 is a virtual computing environment that provides a virtual platform to launch one or more virtual machines or servers. These virtual machines are called as instances where customers can deploy applications faster and run the applications without any use of upfront hardware. Amazon Elastic Cloud Computing allows the users to pay only for the capacity that the user actually used.
Amazon EC2 Features: