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.

• Blood and Urinalysis: This requirement dictates that a Blood and Urinalysis report is needed for the potential insured. To view the prototype configuration, navigate in the Admin Explorer to Administration | Requirements | Blood and Urinalysis and view the XMLSource, XMLDefinition and XMLResults panes. The key configuration for this requirement is explained below:
  • The requirement has the MatchRequirementResult screen attached to search for a requirement result with the RequirementResultGUID defined in the RequirementResultGuidMV math variable.
• Motor Vehicle Report: This requirement dictates that a Motor Vehicle Report is needed for the potential insured. To view the prototype configuration, navigate in the Admin Explorer to Administration | Requirements | Motor Vehicle Report and view the XMLSource, XMLDefinition and XMLResults panes. The key configuration for this requirement is explained below:
  • The requirement uses the CopyToRequirementFields to retrieve data for the potential insured, such as the client GUID and driver's license number
  • The requirement has the MatchRequirementResult screen attached to search for a requirement result with the RequirementResultGUID defined in the RequirementResultGuidMV math variable.
• Paramed Exam: This requirement dictates that Paramed Exam results are needed for the potential insured. To view the prototype configuration, navigate in the Admin Explorer to Administration | Requirements | Paramed Exam and view the XMLSource, XMLDefinition and XMLResults panes. The key configuration for this requirement is explained below:
  • The requirement has two fields configured on the XMLResults pane:
    • An Information Received checkbox, used to indicate whether the potential insured's Paramed Exam results have been received.
    • A Date Received field.
• APS Report: This requirement contains the minimum configuration needed for a requirement to process. To view the prototype configuration, navigate in the Admin Explorer to Administration | Requirements | APS Report and view the XMLSource, XMLDefinition and XMLResults panes. The key configuration for this requirement is explained below:
  • The requirement is configured with opening and closing <RequirementDefinition>, <Requirement> and <RequirementResults> parent tags on the XML Source, XMLDefinition and XMLResults panes, respectively.
• Inspection Report: This requirement dictates that an Inspection Report is needed for the potential insured. To view the prototype configuration, navigate in the Admin Explorer to Administration | Requirements | Inspection Report and view the XMLSource, XMLDefinition and XMLResults panes. The key configuration for this requirement is explained below:
  • The requirement has two fields configured on the XMLResults pane:
    • A Received Date field, used to indicate the date that the potential insured's InspectionReport was received.
    • A Fulfilled By Date date, used to indicate the date that the Inspection Report was fulfilled.
• EKG Exam: This requirement dictates that EKGExam results are needed for the potential insured. To view the prototype configuration, navigate in the Admin Explorer to Administration | Requirements | EKG Exam and view the XMLSource, XMLDefinition and XMLResults panes. The key configuration for this requirement is explained below:
  • The requirement has the MatchRequirementResult screen attached to search for a requirement result with the RequirementResultGUID defined in the RequirementResultGuidMV math variable.

Transactions

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

• AutoGenerateRequirements: This transaction automatically adds the Age-Amount requirements, as well as additional requirements, based on the configured criteria. To view the prototype example, navigate in the Main Explorer to Companies | Holding Company | Subsidiary Company | Primary Company 1 | Plans | NBUTerm Life Plan | Transactions | Policy Transactions| AutoGenerateRequirements. The key configuration for this transaction is explained below:
  • The transaction has the AddRequirements business rule attached, which is configured to add the Age-Amount requirements explained above, as well as several additional requirements, to the application.

Business Rules

• AddRequirements: This business rule is attached to the AutoGenerateRequirements transactions in order to add a specified set of requirements to an application. To view the prototype example, navigate in the Main Explorer to Companies | Holding Company | Subsidiary Company | Primary Company 1 | Plans | NBUTerm Life Plan | Transactions | Policy Transactions| AutoGenerateRequirements | Attached Rules | AddRequirements. The key configuration for this business rule is explained below:
  • The business rule is configured to add the following requirements to an application:

    • APS Report

    • Motor Vehicle Report

    • Inspection Report

    • Blood and Urinalysis

    • Missing Drivers License Information

    • Illustration Details

    • MIB Inquiry

    • Missing MIB Authorization

    • Prescription Verification

    • Aviation Questionaire

    • Travel Questionaire

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.