This document provides an overview of the insurance domain. It defines key insurance concepts like domain, domain expert, subject expert, insurer, insured, premium, and policy holder. It describes the different types of insurance like life, health, dental, business, and transport insurance. It outlines the insurance process including policy administration, claims processing, and underwriting. Finally, it discusses factors that influence insurance rates and the benefits of purchasing insurance.

1. Insurance DOMAINS
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2. MISHRA
Business Analyst
Suntiara Soft
www.suntiara.in
mishraba108@gmail.com
+91 9912923179
+91 9581271790
(INIDA)
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3. DOMAIN
• It is a Subject
• When we consider any software project
we termed the subject as Domain
e.g. Insurance, Banking
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4. • A Domain expert is the master of theA Domain expert is the master of the
subject and he/she may know each andsubject and he/she may know each and
every concept of thatevery concept of that
product/application.product/application.
• They have caliber to give advise to clientThey have caliber to give advise to client
on any particular work area.on any particular work area.
DOMAIN EXPERT
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5. • Subject expert is that person whoSubject expert is that person who
have knowledge of a particular areahave knowledge of a particular area
where he/she may find out whatwhere he/she may find out what
need to do the against the issue ifneed to do the against the issue if
anyany
SUBJECT EXPERT
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6. NEED OF DOMAIN
• Why a Domain is need
• What is use of Domain
• Why tester may need of Domain Knowledge
• What is difference between who have Domain
knowledge & other who didn’t
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7. NEED OF DOMAIN cont…
• Mobile Application Testing
• Wireless Application Testing
• VOIP Application
• Network Application
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8. TYPES OF DOMAIN
• Insurance
• Banking
• Mobile Banking
• Health Care Domain
• Dental Insurance
• Retail
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9. TYPES OF DOMAIN
• Super Market
• Protocol
• Networks
• Finance
• CRM-SAP
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10. ADVANTAGES OF DOMAIN KNOWLEDGE
• Reduce the Training Time
• Good on Functional Flow Chart (Work Flow,
Business Process & Rule )
• Good Idea on UI Features
• Good Idea on Back- End Processing
• Defect Tracking
• Terminology
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11. INSURANCE
• What is Insurance
Insurance, in Law and Economics is a form of
risk management primarily used to hedge
against the risk of Contingent, Uncertain loss.
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12. INSURANCE
• Insurance is defined as the equitable transfer
of the risk of a loss from one entity to another
in exchange for payment
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13. INSURER
• INSURER is an Insurance Company selling the
policy
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14. INSURED/POLICY HOLDER
• An Insured or Policy holder is the person or
entity buying the Insurance Policy
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15. PREMIUM/INSURANCE RATE
• The insurance rate is a factor used to
determine the amount to be charged for a
certain amount of insurance coverage called
the Premium
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16. HISTORY
• 2nd
BC and 3rd
BC
• 16 AD
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17. TYPES OF INSURANCE
• Life Insurance (Long Term)
• Non-Life Insurance (Short Term)
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18. TYPES OF INSURANCE
• By the Law of Insurance is in USA
1. Unemployment Insurance
2. Social Security
3. Worker’s Compensation
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19. CATEGORY OF INSURANCE
• Dental
• Health
• Life
• Business
• Residential
• Transport/Communication
• Other
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20. DENTAL
• It Covers Dental Benefits
Capping
Polishing
Crowing
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21. HEALTH INSURANCE
• Accidental Death & Dismemberment
Insurance
• Disability Insurance
• Total Permanent Disability Insurance
• Long Term Care Insurance
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22. LIFE INSURANCE
• Permanent Life Insurance
• Term Life Insurance
• Universal Life Insurance
• Variable Universal Life Insurance
• Whole-Life Insurance
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23. BUSINESS
• Bond Insurance
• Directors officers Liability Insurance
• Error & Omission Insurance
• Fidelity Bond
• Professional Indemnity Insurance
• Professional Liability Insurance
• Protection & Indemnity Insurance
• Trade Credit Insurance
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24. RESIDENTIAL
• Contents Insurance
• Earth Quake Insurance
• Flood Insurance
• Home Insurance
• Land Lords Insurance
• Mortgage Insurance
• Property Insurance
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25. TRANSPORT/COMMUNICATION
• Marin Insurance
• Travel Insurance
• Vehicle Insurance
• Aviations Insurance
• Satellite Insurance
• Computer Insurance
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26. OTHER INSURANCE
• Causality Insurance
• Crime Insurance
• Group Insurance
• Crop Insurance
• Liability Insurance
• No-Fault Insurance
• Pet Insurance
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27. OTHER INSURANCE
• Re-Insurance
• Terrorism Insurance
• Wage Insurance
• Weather Insurance
• Worker’s Compensation
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28. WHAT IS USE OF PREMIUM TO THE
COMPANY
• 3 thing do
• 1st
Pool out the money to pay claims
• 2nd
Insurance Companies pay for Expenses
involved in selling and providing insurance
protection
• 3rd
Insurance Companies invest money
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29. PREMIUM DETERMINATION
• The Frequency of Claims (how many)
• The Severity (Cost of each Claim)
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30. CONCEPT OF INSURANCE
• Example- Home Insurance
House in village= 1000
Value of House= Rs.80,000/
House Burning in a Year=10
Total amount loss due to fire = Rs. 8,00,000/
Contribution of each house owner= Rs.800/
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31. CONCEPT OF INSURANCE
UNDERLYING ASSUMPTION
• All 1000 house owners are exposed to
common risk i.e. FIRE
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32. CONCEPT OF INSURANCE
• Procedures
All owner contribute Rs 800/ each as premium
to the pool of funds
total value of the fund Rs. 8,00,000( each 1000
house* 800)
10 house get burnt during the year
Insurance company pays Rs 80,000/- out of the
pool to all 10 house owner whose house get
burnt
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33. CONCEPT OF INSURANCE
• Effect of Insurance
Risk of 10 house owners is spread over 1000
house owner in the village thus reducing the
burden on any one of the owner
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34. INSURANCE/POLICYProcess
• Insurance Policy Administrations
• Claims Process
• Agency Process
• Agent Process
• Policy System
• User Control System
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35. INSURANCE/POLICY PROCESS
• Data Import/Export Process
• Policy Registration
• Quotations Engine
• Insurance Administration Process System
• Content Process
• Insurance Document Process
• Insurance Accounting
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36. BENEFIT OF INSURANCE
• Insurance Work-Risk +Static's= Peace of Mind
• Insurance Company were developed to take
your Risks
• Insurance Covers every thing we do
House Hold Insurance
Medical, Motor, Travel, Pet etc
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37. FACTORS THAT INFLUENCE LIFE
INSURANCE RATE
• Age
• Heath Condition
• Gender
• Smoker
• Life Style
• Occupation
• Type of Policy
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38. FACTORS THAT INFLUENCE HEALTH
INSURANCE RATE
• Weight
• Gender
• Smoking Status
• Family Medical History
• Location
• Material Status
• Profession
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39. You can view video on YouTube
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40. QUESTIONS
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41. Thanks
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