Policies Panel

Description

This panel contains all information regarding your insurance business. It consists of two main windows:

• Overview window: This window displays data over all your insurance contracts:
  • Number of contracts.
  • Total value insured: equal to the sum of the covers over all your contracts.
  • Accumulated premium: equal to the accumulated sum of all premiums collected during the entire duration over your active (i.e., not deleted) policies. This represents the total cash collected from premiums over all active contracts since the time the policy was created.
  • Accumulated claims: equal to the accumulated sum of all claims paid during the entire duration over your active policies. This represents the total cash paid from claims over all active contracts since the time the policy was created.
  • Gross written premium: equal to $\sum _C\text{YP}(C)$, where $\text{YP}(C)$ is the Yearly Premium of insurance contract C.
• Contracts window: Here, you can see information regarding individual policies, as well as creating, editing or eliminating insurance contracts.
  • Create new contract button: click here to open the Insurance Contract Template, which allows you to create or edit an insurance contract.
  • If you have already created insurance contracts, you can click on any of them to display detailed information about the policy. Click here also if you want to edit or delete a policy. More precisely:
    • The Contract specification table shows information regarding the following:
      • Name of the contract-
      • Whether it is active or not. A contract is active if it hasn't been set for deletion.
      • Line of business.
      • Type of contract.
      • Policy term (set as of now for 12 months for all contracts).
      • Profit factor.
      • Employees assigned to this particular contract.
      • Deductible (if any).
      • Cover.
      • Price.

Strategy tips (optional)

If applicable

Real-world parallel (optional)

If applicable. Explain differences and similitudes with the real-world version.

Related concepts

• Insurance Contract.
• Insurance.