LEAD 2000

Life Insurance Requirements

2009

Mely Lerman / Domain Expert

Mely Lerman has been developing and implemented Insurance Systems for
more than 30 years in Switzerland, Israel, Brazil, and UK

Selected Clients

Life Insurance Solutions

Life
Insurance

Pensions

Group Life

Products

Group
Health

Annuities

Health

Parties
Parties
Claims
Claims

Policy
Policy

Reinsurance

Products

Actuarial
Actuarial
Package

Reserve

Life &
Pensions

Surrender
Values
Values

Commissions
Commissions

Accumulation
Accumulation
and
and
Revaluation

Lists
Lists
Billing
&Collection
&Collection

:international standards
ACORD XML
IAA models
Rules Machine

Policy

Policy Administration

Quoting

New
Business

Underwriting Policy Issue Endorsement

Surrender
Values

Claims

Individual

Collective
Company
Contract

Insured
Insured

Employee
Policy
Policy
Plans
Plans

Group Life
Pension Fund Schemes
Group Health

Individual Life
Individual
Health

Collective
Employer
Contract

Categories
Definition

Arrangement
Definition

Employee

Policy

Possibility of portability
Possibility of personal options
Additional Insureds in the policy

Life Insurance

Pensions

Life Insurance
Variable universal life insurance
Endowment
Whole Life
Whole Life with limited premium
Term
Disability and Premium Waiver
Permanent Disability
Double Indemnity

Health Insurance

Long Term Care

Underwriting

Underwriting Automation
Configurable Questionnaires
LOB
Life
Health
Disability

Individual Case Scoring

Parties

Parties

Insured

Beneficiary

Employer

Distribution Channels
Supervisors
Tied Agents
Brokers
Bancassurance

Reinsurers

Co Insurers

13

Products

Description

Product Management

Line of Business

Product
Management

Type

Investment Type
Rate of Return

Underwriting
Category

Life Table
Cost of Living
Index

Version

Linkage
Interest
Actuarial Values
With-Profit
Algorithms

Actuarial
Module

Actuarial Module
qx
fees
Interest
Age
Sex
Duration
Waiting Period

Net Premium
Reserve Rate
Annuity Rate
Surrender Value Rate
Paid-Up Value Rate
Sum at Risk

Products
Algorithms

Set of rules and tables needed to administrate

a plan
This engine is used to define the commission
Thedefinition
commissions
candifferent
be, for example:
The
of the
rules to
Rules
Execution
A
percentage
of
the
total
premium
with minim
calculate tax
and maximum limits expressed by a certain a
A percentage
of theCalculation
premium or amount as
Sum Assured
Plan Definition
commission for each plan
A percentage of the expenses and fees
A percentage
of the
accumulated savings
Premium
Calculation
A percentage of the savings management fee
Tax Legislation

Commission Definition

Discounts Definition

Fees Definition

Tax Calculation
Defines discounts
the company wants to provid
marketing package, a company or group
contract or to a specific insured.
Revaluation
Commission Calculation

Surrender Values
Defines the rules of the coverage of the pr
Reserve

Coverage Definition

Claims

& Billing
Collection

Billing and Collection

Billing
Billing
Calculation

Billing
Report

Premium
Changes

Collection
Electronic
Transaction

Agents
Reports

Credit Card

Delay
Management

Cash
Collection

Account
Statement

Fund Revaluation
and Accumulation

ily Process

Investment Gateway

Transaction Daily Process

Sum Assured Calculation
Savings Calculation
Allocation Purchase
Surrender
Switch from
Switch to
Transfer from
Transfer to
Early Surrender Penalty

Investment

Return on Investment Calculation

Unit Share Value Calculation

Accumulation Calculation
Surrender Process

Reinsurance

Reinsurance

Ceded & assumed business

Reinsurance & retrocession

All types of reinsurance:

Proportional treaty
Non proportional treaty
Facultative reinsurance

Calculations engine

Rules-based transactions

25

Workflow

 Manages the tasks

navigation and connects
between the stations such
as:
Agents or Brokers
Clerks
Teams' mail box
Actuaries
Actuaries' team mail box
Image

Administrates the to-do lists

of the staff.

Thank You !!!