WinsurTech Blog | Insurance Concepts and Practical Solutions

Quick Liquidity, Current Liquidity, and Operating Cash Flow

Author - Webner
04/01/2020
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5:34 am
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0 Comments
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Insurance
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Post Views: 1,151

Financial Parameters in an Insurance Company – Quick Liquidity, Current Liquidity, and Operating Cash Flow

Quick liquidity, current liquidity, and operating cash flow are parameters of an insurance company used to determine the financial strength of the company. Each of these parameters is important for the companies and they put their best on these factors to strengthen their financial status. We will discuss the meaning and functioning of these three parameters below.

Quick Liquidity

The quick liquidity of an insurance company is the total amount of the company’s quick assets divided by the sum of its […]

What is the difference between the Loss Ratio and Expense Ratio?

Author - Webner
03/30/2020
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6:50 am
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0 Comments
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Insurance
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Post Views: 3,013

Introduction

We have already discussed the meaning and relevance of the Expense Ratio in the Insurance sector. However, it is imperative to understand various other ways that an insurance company uses to calculate its efficiency. In order to do that, we must know the importance of the Loss Ratio as part of the combined ratio that provides basic guidelines to the targets and achievements of the company’s underwritten policies.

How is the Loss Ratio calculated?

It is calculated in comparison with the premiums earned (as its percentage). Losses in this ratio include the adjustment expenses […]

Salesforce Service Cloud Introduction

Author - Webner
03/26/2020
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6:18 am
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0 Comments
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Salesforce
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Post Views: 1,628

Introduction to Salesforce

Salesforce is a CRM that is used to connect people and to share information. In this blog, we are going to discuss one of the core service – Salesforce Service Cloud and how it revolutionized customer support by making interactions easier between an organization and its customers. Now we will understand how Salesforce Service Cloud can add value to the business. First, we need to know the Salesforce Service Cloud, the need for it and what all services it provides to engage customers.

What is it?

Service Cloud permits users to automatize service processes […]

Email option on object page in Salesforce Lightning

Author - Webner
03/24/2020
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5:41 am
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0 Comments
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Salesforce
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Post Views: 1,094

Salesforce Lightning – Email Option

To use a salesforce lightning default email option on the object page, we need to create a global action. For this, we have to go with the following steps:-

Steps:

1) Go to Setup | Global Action
2) Create a new Send Email global action.

3) Go to the object manager and select the object in which you want to add this global action.
4) Go to Page Layout and choose the layout.
5) Choose Mobile & Lightning Actions.
5) Drag the Email action and drop it below into the Salesforce Mobile and Lightning […]

How do you measure a company’s liquidity?

Author - Webner
03/20/2020
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5:49 am
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0 Comments
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Insurance
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Post Views: 2,610

What is Liquidity?

The measure of ability with which assets can be easily sold or bought is known as liquidity. The assets which fall under liquidity are known as liquid assets. Cash is considered to be the most liquid asset that one can have. Other than cash, saving accounts, and checkable accounts are also liquid assets. All the types of assets like Real Estate or Equities come under different levels on the liquidity spectrum.

Liquidity of a company

When we use the term “Liquidity” in business, it means the ability of an organization to turn its […]

What can be done with Azure Functions (serverless architecture)?

Author - Webner
03/18/2020
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6:32 am
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0 Comments
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Cloud
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Post Views: 1,098

Introduction

In the world of serverless computing, the Azure functions act as modern serverless architecture. It helps in delivering cloud computing and configures to comply with application development. Through Azure functions, we can author and execute snippets of code in the cloud without the hassle of managing the web servers and containers. It lets us run small pieces of code and makes developers bother free about the infrastructure of the platform on which it is executed.

By using Azure Functions, we can call Function-as-a-Service which eliminates infrastructure considerations for the developer. Even they can be […]

Profitability Ratios For Casualty Companies

Author - Webner
03/16/2020
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6:27 am
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0 Comments
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Insurance
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Post Views: 1,668

Introduction to Profitability ratios

Profitability ratios are defined as a set of financial metrics that are used to evaluate a business’s ability to make profits relative to its revenue, operating values, balance sheet assets, and shareholders’ equity over time by using the data from a specific point in time. In simple words, with these profitability ratios, insurance companies generally compare numbers from their financial performance to determine how profitable, effective or liquid their businesses are, in certain areas, from year to year. These ratios also allow the insurance companies to compare with their competitors across the street […]

Salesforce Reports

Author - Webner
03/12/2020
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7:02 am
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0 Comments
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Salesforce
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Post Views: 2,307

Introduction to Salesforce Reports

A report is an important part of any business. It provides a clear view of the management. An administration uses the reports to trace improvement towards its different goals, control expenses and increases profits. In Salesforce, we can easily create reports in different styles.
Reports can be created using a few clicks in a short time. We can also schedule the Salesforce reports.

There are basically four types of reports that we can create:

1. Tabular: It is used for listing a simple collection of data without any subtotals. This provides us […]

Push Data From Mautic To Salesforce

Author - Webner
03/09/2020
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6:29 am
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0 Comments
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Salesforce
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Post Views: 1,767

Pushing records from Mautic to Salesforce using Segments and Campaign

Below are the steps to push specific records (using filters) from Mautic to Salesforce:

Create Segment
Segments are the list of Contact records. Click on the segment tab and then click on the New button to create a new segment. The following window will open:

There are two tabs –

Details:- Here, we can add the Name, Alias, and Description of the Segment as shown above image.
Filters:- In this tab, we can add multiple filters in order to add specific contacts (which matches these filter criteria […]

Creating AWS Lambda function using AWS Command Line Interface (CLI)

Author - Webner
03/05/2020
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7:23 am
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0 Comments
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Cloud
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Post Views: 3,471

AWS Lambda function & CLI

Apart from using the AWS Lambda console directly to create or update the functions, AWS provides a very easy way to do the same stuff using Command Line Interface (CLI) as well. In this blog, we’ll learn the process to create a new Lambda function written in Java using CLI commands. There are a few prerequisites which you need to fulfill before moving on to create the function, such as you must have some knowledge of basic Lambda operations and must be aware of using Lambda console. Also, you will need a […]

WinsurTech AL3 Parser | Convert ACORD AL3 to JSON, XML, Excel, CSV, PDF Formats

Author - Webner
03/04/2020
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2:36 pm
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0 Comments
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ACORD AL3, Insurance
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Post Views: 6,823

Overview

WinsurTech AL3 to JSON REST API is now available – Click here.

WinsurTech AL3 Parser is a command-line translator application that converts the ACORD AL3 format file to JSON, XML, Excel, CSV, and PDF formats. WinsurTech is an ACORD Member. WinsurTech AL3 Parser is a standalone library (supported for both Windows and Ubuntu) that can be invoked from the command line or through a program written in any programming language like PHP, C#, Python, NodeJS, Ruby or any other. AL3 parser is an optimized AL3 […]

How do Insurance Companies make money?

Author - Webner
03/03/2020
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6:16 am
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0 Comments
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Insurance
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Post Views: 1,275

Introduction

Everyone knows that change is the only constant in this unpredictable world that we live in. But human beings have evolved themselves by getting familiar with the surroundings. As a result, they either try to repel the change that inhibits their basic functions or adapt themselves to it. In an environment that is run by the mighty nature, we are still at its mercy. To avoid any unprecedented circumstances, (be it an earthquake, accident, terminal illness, etc.) that can affect our livelihood, insurance was invented.

What is Insurance?

Insurance is a shared bond between the […]

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