New Business Underwriting Requirements Prototype

As part of the New Business Underwriting process, OIPA now supports enhanced requirement functionality in order to facilitate the processing of applications for policies.

Prototype Explanation

Underwriting Guideline

A sample underwriting guideline was created for the purposes of this prototype. See the Requirements section below for an explanation of each requirement used in the guideline.

Initial Underwriting Requirement
Age-Amount 50,000-99,999 100,000-199,999 200,000-999,999 1,000,000-10,000,000
18-30 Non-Medical

Non-Medical

Blood and Urinalysis

Motor Vehicle Report

Paramed Exam

Paramed Exam

Blood and Urinalysis

Motor Vehicle Report

APS Report

Paramed Exam

Blood and Urinalysis

Motor Vehicle Report

Inspection Report

APS Report

31-35 Non-Medical

Non-Medical

Blood and Urinalysis

Motor Vehicle Report

Paramed Exam

Paramed Exam

Blood and Urinalysis

Motor Vehicle Report

APS Report

Paramed Exam

Blood and Urinalysis

Motor Vehicle Report

Inspection Report

APS Report

36-45 Non-Medical

Non-Medical

Blood and Urinalysis

Motor Vehicle Report

Paramed Exam

Paramed Exam

Blood and Urinalysis

Motor Vehicle Report

APS Report

Paramed Exam

Blood and Urinalysis

Motor Vehicle Report

Inspection Report

APS Report

46-55 Non-Medical

Paramed Exam

Blood and Urinalysis

Motor Vehicle Report

APS Report

Paramed Exam

Blood and Urinalysis

Motor Vehicle Report

APS Report

EKG Exam

Paramed Exam

Blood and Urinalysis

Motor Vehicle Report

APS Report

EKG Exam

Inspection Report

56-60

Non-Medical

APS Report

Paramed Exam

Blood and Urinalysis

Motor Vehicle Report

APS Report

Paramed Exam

Blood and Urinalysis

Motor Vehicle Report

APS Report

EKG Exam

Paramed Exam

Blood and Urinalysis

Motor Vehicle Report

APS Report

EKG Exam

Inspection Report

61-65

Non-Medical

APS Report

Paramed Exam

Blood and Urinalysis

Motor Vehicle Report

APS Report

Paramed Exam

Blood and Urinalysis

Motor Vehicle Report

APS Report

EKG Exam

Paramed Exam

Blood and Urinalysis

Motor Vehicle Report

APS Report

EKG Exam

Inspection Report

66-70

Non-Medical

APS Report

Paramed Exam

Blood and Urinalysis

Motor Vehicle Report

APS Report

Paramed Exam

Blood and Urinalysis

Motor Vehicle Report

APS Report

EKG Exam

Paramed Exam

Blood and Urinalysis

Motor Vehicle Report

APS Report

EKG Exam

Inspection Report

Requirements

The following Policy-Client requirements were configured in Primary Company 1, a subsidiary company to the Holding Company, in order to demonstrate this new functionality.

Transactions

The following transactions were configured in the NBUTermLife Plan, belonging to Primary Company 1, to demonstrate this new functionality:

Business Rules

View Prototype in OIPA

  1. Log in OIPA using the Holding Company user ID and password.
  2. Open an existing application or create a new application.
  3. Add and process the AutoGenerateRequirements activity.
  4. View the application's requirements by clicking on Requirements in the navigational menu on the left side of the Application screen.
  5. Note that the requirements listed above were added to the application.
     
Copyright © 2017, Oracle and/or its affiliates. All rights reserved. About Oracle Insurance | Contact Us