WinsurTech Blog | Insurance Concepts and Practical Solutions

What is the Expense Ratio for an Insurance Company?

Author - Webner
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6:33 am
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Introduction to Expense Ratio

Providing financial security to its consumers is the ultimate aim of an insurance company. However, sustaining its own capability to finance its customers becomes its priority. To measure the financial sustainability, insurance companies use various different methods and techniques. Among them, the Expense Ratio serves as the ideal measure providing clarity on the logistics. Signifying the efficiency of an insurance company and measuring its profitability, the expense ratio gives a clearer picture of the financial aspects of the company.

Calculating Expense Ratio

There are generally two ways by which companies calculate the […]

Lightning Visualforce Page Redirection Refresh Issue

Author - Webner
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5:50 am
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Introduction

Lightning Experience is a next-level experience in Salesforce and has a major improvisation in functionality, usability, and speed for every user type. You can use aura components and apps to fulfil your requirements in lightning but as there are pros of lightning, there are still some bugs in it. One of them is – the lightning record doesn’t show the refreshed data after redirection from a visualforce page. So a solution for it is creating an empty aura component and add the “refresh View” function in it so that whenever the page is opened the aura […]

Amazon VPC

Author - Webner
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5:09 am
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Amazon VPC Overview:

Amazon VPC is a Virtual Private Cloud that provides you virtual private network where you can launch your AWS resources (such as EC2 instance) for your web applications and development. Amazon virtual private cloud is a logically isolated section of the AWS cloud which is dedicated to your AWS account.

VPC Resources:

Subnet: It is a range of IP addresses in your VPC, Where user can launch their resources such as EC2 instances within a defined IP range in the VPC.

Route Tables: These tables contain a set of rules which define the […]

How do P&C insurance companies make money?

Author - Webner
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5:22 am
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Introduction to P&C (Property and Casualty) 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. On a basic level, Insurance is some form of protection from any unpredictable financial losses. We all know about life insurance, but there is another category of insurance known as P&C insurance which is quite different. Life insurance covers risks only associated with human mortality and morbidity whereas P&C insurance is focused on risks that result in a loss to property and […]

Salesforce | How to setup Sandbox Org in Visual Studio Code

Author - Webner
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7:06 am
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Below are the steps to setup Sandbox in VS Code:

Create a Project in VS Code: Open command palette using Ctrl+Shift+p keys and then select “sfdx: create a project with Manifest” (as shown in below image) and click enter. Write the Project name and select a folder to which you want to store this project.

Authorize an Org: Select “Authorize an Org” command and then select “Sandbox”, it will redirect to the login page of Salesforce(test.salesforce.com) and then login with Sandbox Org’s credentials.

What is a good liquidity ratio for an insurance company?

Author - Webner
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6:47 am
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Introduction

In another blog, we have already discussed the liquidity ratio for an insurance company and how we can measure it. The liquidity ratio of a company shows the ability of a company to turn its assets into cash. This ratio is used to compare the financial performance of insurance companies and also used to determine how profitable a company is from year to year. Investors and creditors use this ratio to observe the potentiality of an insurance company before investing in it. In this blog, we will discuss a little more about the liquidity ratio and what […]

AZURE SERVICE BUS

Author - Webner
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5:26 am
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Azure Service Bus is a cloud messaging service to connect applications, services, and devices running on cloud to connect with other applications or services. It is developed and managed by Microsoft. Its main agenda is to make communication easier, by being the communication facilitator between two or more parties when they want to exchange information with one another. It is a fully-managed service that eliminates the burden of server management and licensing. It also supports client libraries for .NET, Java, JMS, etc. Service Bus can be created using Microsoft Azure Portal or directly through C# code. A message is […]

Salesforce Partner Community

Author - Webner
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5:20 am
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Introduction

The Salesforce Partner Community is a platform that is built and maintained specifically for Salesforce partners. It is used by partners to manage their business, learn best practices, get support, and engage with Salesforce employees in a safe and secure environment.
In Salesforce Partner Community, you can find useful articles, webinars, and events that can give you ideas on how to expand your business. You can also get in touch with other Salesforce partners and Salesforce employees who can work with you.

How to become a Salesforce partner?

The relationship of your company with salesforce […]

What is the difference between Written Premium and Earned Premium?

Author - Webner
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5:23 am
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Different types of premiums

Insurance companies transfer the risk on to themselves in exchange for a fixed amount charged from its clients called Premium. Just like sales in a retail company is of paramount importance, premiums are the only way Insurance firms make money. In order for an insurance company to be profitable, the premium collected must be more than the claims it might be giving out. Hence the premium rate is calculated based on extensive research and analysis. However, there are many different ways that an insurance company calculates its profits from the premium. The most commonly […]

Functionalities of Azure Storage

Author - Webner
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5:27 am
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What Azure Storage is?

Azure Storage is a cloud storage solution by Microsoft for modern data storage. It stores a scalable object, a file system service for the cloud, a messaging store for reliable messaging, and a NoSQL store.

Different features of Azure storage:

Durable and highly available: It ensures that your data is safe in the transient of hardware failures. One can opt replica of your data for additional protection or natural disasters. In this way, it remains highly available in the event of an unexpected outage.

Secure: Data is encrypted written to Azure Storage […]

Azure Event Grid: introduction and examples

Author - Webner
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6:11 am
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1 Comment
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What is Azure Event Grid?

It is a service in Azure, which is used to connect applications together through event messaging. It helps to build an event-based architecture for the application. It sends notifications through HTTP requests and allows you to choose the Azure service or resource that you want to be notified about. These notifications contain events that happen in the publisher. It enables event management like blob storage, functions, logic apps, etc across different Azure resources.

Azure Event Grid is an event managed routing platform that enables you to react in real-time to changes […]

How casualty companies calculate surplus & reserves?

Author - Webner
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5:00 am
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Introduction

Surplus and reserves are integral for any insurance company to run smoothly. There are plenty of ways in which an insurance company makes profits. Of which, premiums and investment are largely the biggest contributors. This is what makes them profitable in the long run and their business sustainable. In the following paragraphs, we will discuss the difference between a Casualty and non-Casualty insurance company, what is surplus and reserves and how do casualty companies calculate these measures?

What is a Casualty Company?

The present insurance industry is said to be divided into 2 major […]

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