Life Insurance Quote System

Overview:
LIFE INSURANCE COMPANY of WEST is developing online quoting systems to online customers and to support their sales force in selling the products. Initially company wanted to create online quoting system only for Term life insurance. Term life insurance product - Life insurance coverage is applicable for a particular term selected at the time of creating policy. Policy will be renewed until the term of the policy as long as the premiums are paid on time. If 22 year old person take 5 year term insurance with an yearly premium of $100 with the insurance coverage of $50,000, then as long as customer pays the yearly premium member will be covered under the insurance for 5 years. During this term member need not prove his insurability.

Assumptions & Constraints

Following are the assumptions and constraints that is used for outlining the Functional requirements and there by the system behavior. 1. Assumptions Every Customer/Agent are familiar with Insurance before they fill or apply for Insurance Policy Quote Id is an identity column . Appropriate control should be taken to create User Interface Always use light weight control to display the data where it is required Customer_id should be primary key (pk) in Personal Information table and it should be used as a foreign key for health information and quote tables quote_id will be the primary key for quote table. All the coverage and premium related info will be stored in quote table 2. Constraints Look-up data where ever applicable should be loaded from the database. For example Policy Term data with

5,10,15,20,25

Annual Premium should be read only field in

Premium Calculation Screen
Before Save and delete of any Information in System confirmation must be taken from customer.

3. Premium Calculation

Premium calculation involves. a) Determine Tobacco Risk Class and BMI Risk Class b) Determining Final Risk Class c) Calculation of base premium for amount of insurance(Sum Assured/Term per year) d) Multiplying the base premium in step c with Age factor

e) Multiplying the base premium in step d with Risk factor f) Multiplying the premium in step e with Term factor Determine Body Mass Index (BMI) risk class:

Calculate BMI using the formula

Category Severely underweight Underweight Normal

BMI range kg/m2 less than 16.0 from 16.0 to 18.5 from 18.5 to 25

Overweight from 25 to 30 Obese Class I from 30 to 35 Obese Class II from 35 to 40 Obese Class III over 40 over 1.6 from 130 kilograms (20 st; 290 lb) Ref: http://en.wikipedia.org/wiki/Body_mass_index Note :BMI RiskClass is the new column added to the table from wiki Determine Final Risk Class: Determine the final risk class using the following table: BMI Risk Clas s E E C C A A B B A B A B A B A B Toba cco Risk Clas s

BMI Prime less than 0.66 from 0.66 to 0.73 from 0.74 to 0.99 from 1.0 to 1.19 from 1.2 to 1.39 from 1.4 to 1.59

Mass (weight) of a 1.8 metres (5 ft 11 in) person with this BMI less than 53.5 kilograms (8.42 st; 118 lb) between 53.5 and 59.9 kilograms (8.42 and 9.43 st; 118 and 132 lb) between 60 and 80.9 kilograms (9.4 and 12.74 st; 130 and 178 lb) between 81 and 96.9 kilograms (12.8 and 15.26 st; 180 and 214 lb) between 97 and 112.9 kilograms (15.3 and 17.78 st; 210 and 249 lb) between 113 and 129.9 kilograms (17.8 and 20.46 st; 250 and 286 lb)

BMI Risk Class E C A B D F G

Final Risk Class Below Average Poor Average Below Average Superior Average Average Below

D A D B F F G G 1.1.1.1 A B A B e

Average Below Average Below Average Below Average Poor Poor Poor

R i s k F a c t o r Final Risk Class Factor Superior 0.8 Average 1 Below Average 1.5 Poor 2 1.1.1.2 f T e r m F a c t o r Insurance Term Factor 5 1 10 1.1 15 1.2

20 25 30

1.3 1.4 1.5

1.1.1.3 Age 18-30 31-40 41-50 51-60 60-70

d Factor

Age Factor 1 1.1 1.3 1.5 2

User Characteristics
Customer will be performing all the CRUD operation and to do the same he should be familiar with Insurance Domain, Customer can independently fill all the required details online for the Insurance policy.

Modules
The entire system is divided into three module. 1. Home Screen Collects and updates Personal information of customer Allows the user to view his previous quotes Updates Personal Information of the Customer 2. Risk Screening It collect the health details of the insured 3. Premium Calculation It Collect the details of term of coverage and amount of insurance Module1: Home Screen CRUD 1: Personal Information Section CRUD Operation 1: Add Customer Information Details Primary user/s :Customer Primary user action/s :Customer need to provide Name, DateofBirth, EmailId, Annual Income,Address,Contact Number,Genders before he save his personal Information to be insured. Associated users :N/A Input Criteria: As mentioned in the description column of Data Requirement. Output or success guarantee: System should display an appropriate message in a Message Box after saving the information details successfully. Data requirements :

Data Element Name Name DateOfBirth(DO B) Email ID Annual Income Address Contact Number Genders

Format Alpha Numeric Date Character Numeric Character Character Character

Description 20 Spaces accepted DD-MMM-YYYY (Date Selection Box) Should be valid email id

Male/Female

Possible exception/error scenarios :N/A UI requirements:

CRUD Operation 2: Edit/Update Customer Primary user/s :Customer Primary user action/s: First Customer need to search his Quote by providing his Name and Email Id, if customer exist it will populate the customer information on screen where customer can edit the changes and can save the Updated data. Associated users : N/A Input Criteria- :as mentioned in the description column of Data Requirement. Output or success guarantee: System will display a message Box after saving the information details is updated successfully. Data requirements : Format Data Element Name Description

Name DateOfBirth(DO B) Email ID Annual Income Address Contact Number Genders

Alpha Numeric Date Character Numeric Character Character Character

20 Spaces accepted DD-MMM-YYYY (Date Selection Box) Should be valid email id

Male/Female

Possible exception/error scenarios :N/A UI requirements:

CRUD Operation 3: Clear All/Delete Primary user/s :Customer Primary user action/s :Customer can Clear All/Delete his Information details from the given UI/Screen, if he has not saved a Quote Associated users :N/A Input Criteria:as mentioned in the description column of Data Requirement. Output or success guarantee : System will display a message Box after deleting the information details successfully. Data requirements :

Data Element Name

Format

Description

Name DateOfBirth(DO B) Email ID Annual Income Address Contact Number Genders

Alpha Numeric Date Character Numeric Character Character Character

20 Spaces accepted DD-MMM-YYYY (Date Selection Box) Should be valid email id

Male/Female

Possible exception/error scenarios:N/A UI requirements:

CRUD Operation 4 : Search Primary user/s :Customer Primary user action/s :Customer will provide email id and name to search his quote Associated users :N/A Input Criteria:Both email id and name is mandatory Output or success guarantee : Display all existing quotes of customer Data requirements : Data Element Name Customer Name Format Alpha Numeric Description 20 Spaces accepted

Quote Id Policy Term Calculated Premium

Numeric Numeric Numeric

Identity column In INR

Possible exception/error scenarios : Display appropriate error when the customer doesn't exist. UI requirements: Display all existing quotes and other Information required in an appropriate control.

CRUD Operation 5 : Proceed Primary user/s:Customer Primary user action/s: Fill all the required information on screen to Moves to the Risk Screening Module only if Personal information is saved successfully. Associated users: N/A Input Criteria:As mentioned in the description column of Data Requirement. Output or success guarantee :Risk Screen should be display. Data requirements : Data Element Name Name DateOfBirth(DO B) Email ID Annual Income Address Contact Number Genders Format Alpha Numeric Date Character Numeric Character Character Character Male/Female Description 20 Spaces accepted DD-MMM-YYYY (Date Selection Box) Should be valid email id

Possible exception/error scenarios : N/A UI requirements:

Module 2: Risk Screening CRUD 1:Risk Screening CRUD Operation 1: Insert/Save Customer Health Information Details Primary user/s : Customer Primary user action/s :Customer need to fill all the data required in the Risk screen to save. Associated users :N/A Input Criteria-:as mentioned below in description column of data requirement Output or success guarantee :After inserting data successfully in system a Message Box should be displayed with appropriate message.

Data requirements : Data Element & Description Decease - Do you have a cancer, diabetes, depression or heart decease? Smoker - Are you a smoker or use any other tobacco substitute? Hereditary DeceaseHave your father or mother died of Cardio vascular Decease? Height - What is your Height? Weight - What is your Weight? numeric Format character Description Yes/No

Yes/No

Yes/No

numeric numeric

60 to 300(Centimeters)

[Free Text Box ] Kgs Numeric between 10-200

Possible exception/error scenarios : UI requirements:Radio Button required for collecting first three input in the given screen and Drop Down box for taking height and weight which should be a look-up value from database table.

CRUD Operation 2: Edit/Update Primary user/s:Customer Primary user action/s : to load and Make the necessary changes as per his requirement and press Save button to update the changes made in the existing customer health information. Associated users :Insurance agent Input Criteria-as mentioned in the description column of Data Requirement. Output or success guarantee :If correct Name and email Id is provided it should loads the customer health details successfully in the above given screen else display the appropriate error in a Message Box Data requirements : Data Element & Description Decease - Do you have a cancer, diabetes, depression or heart decease? Smoker - Are you a smoker or use any other tobacco substitute? Hereditary DeceaseHave your father or mother died of Cardio vascular Decease? numeric Format character Description Yes/No

Yes/No

Yes/No

Height - What is your Height? Weight - What is your Weight?

numeric numeric

60 to 300(Centimeters)

[Free Text Box ] Kgs Numeric between 10-200

Possible exception/error scenarios :N/A UI requirements:

CRUD Operation 3: Delete Customer health Information Primary user/s :Customer Primary user action/s : Customer can delete his existing health information from system. Associated users :N/A Input Criteria- :As mentioned in the description column of Data Requirement. Output or success guarantee :Display the appropriate message in message box on successfully deleting the data. Data requirements : Data Element & Description Decease - Do you have a cancer, diabetes, depression or heart decease? Smoker - Are you a smoker or use any other tobacco substitute? Hereditary DeceaseHave your father or mother died of Cardio vascular Decease? numeric Format character Description Yes/No

Yes/No

Yes/No

Height - What is your Height? Weight - What is your Weight?

numeric numeric

60 to 300(Centimeters)

[Free Text Box ] Kgs Numeric between 10-200

Possible exception/error scenarios:N/A UI requirements:

CRUD Operation 4 : Proceed Primary user/s :Customer Primary user action/s : It will take user to Premium calculation screen which will collect details of term of coverage and amount of insurance Load all the look up values from database as mentioned in the description column of Data Requirement. Associated users : Insurance agent Input Criteria- : As mentioned in the description column of Data Requirement. Output or success guarantee :Should display Premium Calculation Screen Data requirements : Data Element Name Policy Term Amount of Insurance Format numeric numeric Description

5,10,15,20,25 in Years Numeric With Min value 25,000 INR Max Value

10,00,00,000 INR

Possible exception/error scenarios :N/A UI requirements:

Module 3: Premium Calculation CRUD 1 : Premium Calculation CRUD Operation 1: Calculate Premium Primary user/s :Customer Primary user action/s : Customer need to select Policy Terms( i.e No of Years) and need to enter Amount of Insurance(in INR) he want. Calculate is there to see the annual premium he need to pay and if he agrees with that Premium amount, he can save and Quote or he can just save the Quote information without Premium calculation by using save and exit and to just finalize the quote he need to accept the quote. Associated users: N/A Input Criteria- Customer need to fill insurance amount and no of years policy he wants as mentioned in the description column of Data Requirement the age + term of the coverage should not exceed more than 80 years, If the members age is 70 then we shouldnt display the terms above 10 years. Output or success guarantee :Calculate the annual premium and display it in annual premium column provided. Data requirements Data Element Name Format Numeric Numeric Description

Policy Term Amount of Insurance

5,10,15,20,25 in Years Numeric With Min value 25,000 INR Max Value 10,00,00,000 INR

Possible exception/error scenarios:N/A UI requirements:

CRUD Operation 2: Save & Exit Primary user/s : Customer Primary user action/s : Customer need to execute Save&Exit to save Quote data and exit the system without Premium calculation Associated users :Insurance agent Input Criteria- Customer need to select Policy Terms( i.e No of Years) and Amount of Insurance(in INR) he want. as mentioned in the description column of Data Requirement. Output or success guarantee : When Customer press Save&Exit system must save the Quote and exit the system. Data requirements :

Data Element Name

Format Numeric Numeric

Description

Policy Term Amount of Insurance

5,10,15,20,25 in Years Numeric With Min value 25,000 INR Max Value 10,00,00,000 INR

Possible exception/error scenarios:N/A UI requirements:

CRUD Operation 3: Save & Quote Primary user/s :Customer Primary user action/s :Customer should press Save & Quote button to save the Information and calculates the premium Associated users :Insurance agent Input Criteria- : Customer need to select Policy Terms( i.e No of Years) and Amount of Insurance(in INR) he want as mentioned in the description column of Data Requirement Output or success guarantee :It should Insert the Quote and should calculate the premium and should display the appropriate message in message box upon saving the data successfully. Data requirements :

Data Element Name

Format Numeric Numeric

Description

Policy Term Amount of Insurance

5,10,15,20,25 in Years Numeric With Min value 25,000 INR Max Value 10,00,00,000 INR

Possible exception/error scenarios :N/A

UI requirements

CRUD Operation 4 : Accept Primary user/s :Customer Primary user action/s : Customer will press Accept button to finalized Quote data and make it non-editable Associated users N/A Input Criteria- Customer need to select Policy Terms( i.e No of Years) and Amount of Insurance(in INR) he want. as mentioned in the description column of Data Requirement Output or success guarantee : The Quote status should be finalized and the data should be non-editable. Data requirements :

Data Element Name

Format Numeric Numeric

Description

Policy Term Amount of Insurance

5,10,15,20,25 in Years Numeric With Min value 25,000 INR Max Value 10,00,00,000 INR

Possible exception/error scenarios :N/A UI requirements:

CRUD Operation 5 : Delete Primary user/s : Customer Primary user action/s : User can delete quote data only if quote is not

accepted.

Associated users :N/A Input Criteria- : All the Input criteria are mentioned in the description column of Data Requirement Output or success guarantee : It should Deletes data from quote table if quote is not accepted and should display the appropriate message . Data requirements :

Data Element Name Policy Term Amount of Insurance

Format Numeric Numeric

Description 5,10,15,20,25 in Years Numeric With Min value 25,000 INR Max Value INR 10,00,00,000

Possible exception/error scenarios : UI requirements: