Insurance

What is P & C insurance?

Author - Webner
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Property and Casualty insurance (or P & C as it is usually called), are the types of insurance that cover the following:

Property – Property insurance protects the insured against financial consequences of damage to the property of every kind that is insured like building, automobile, marine etc.

Casualty – Casualty insurance Read more…

Deductible, Elimination Period (Waiting Period) and Coinsurance

Author - Webner
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Suppose someone has a medical insurance policy from an insurer. He visits hospital and bill is of $25. He claims it from the insurance company. Company pays but they incur $400 on the formalities (paperwork for example) to grant $25. Hence it costs the company $425. From where these $400 Read more…

Understanding Insurance Policy Downloads

Author - Webner
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Policy Downloads is the process of bringing policy related information and transaction details from Insurance Carriers into agency management system in use by the agency. An insurance agency can sell policies of several different insurance carriers (like Hartford, Progressive etc). Insurance policies also undergo changes from time to time like Read more…

What is Insurance Policy Reconcile or Policy Reconciliation?

Author - Webner
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When polices are downloaded from carriers (like through IVANS downloads, EBix Team-up Downloads or other 3rd party download applications) what should be done with each policy? Basically policy download actually means policy transactions download. Each downloaded record is a transaction related to a policy. For example policy Renewal (RWL Read more…

What does Indemnity mean in insurance?

Author - Webner
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Indemnity in insurance means in case the loss (financial or death) happens the insurer has to bring the state (in whole or part) of the insured back to what it was prior to the loss. Indemnity is the obligation that one party holds in paying compensation to another party that Read more…

What is Insurable Interest

Author - Webner
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Insurable interest means if the person who wants insurance to be done has any interest in the item being insured or not. For example a human being has natural interest in own life and health (mostly), similarly he has financial interest in his property and car, he has interest in Read more…

Law of Large Numbers in Insurance

Author - Webner
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Law of Large Numbers is the basis for successfully running Insurance Business. If historical data is collected for several years for life insurance for example and the information like how many people died during the policy, how many claims were made etc is available then it can be deduced that Read more…

Understanding Perils and Hazards in Insurance

Author - Webner
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In Life insurance the risk is that person may die before the insurance policy matures. In Car insurance the risk is that car may get damaged during the tenure of the policy. How can the person die? Person may die of fever, heart attack in an accident or by falling Read more…

Understanding Speculative and Pure Risk in Insurance

Author - Webner
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Insurance is to cover the financial risk but what type of risk can be insured? Can risk in gambling be insured or a startup business or a stock investment? No because risk in such endeavours is with the intention to make gains. What if the gain is not made, should Read more…

Insurance Overview

Author - Webner
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Business of insurance runs on probability. If there are 10000 cars each driven by a different driver, there is a certain possibility (risk) that 1 or more of these cars will be hit in an accident within next 1 year. How many of these cars will be hit is not Read more…

Some important terms of US Insurance Industry

Author - Ashish
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Insurance industry of United Stated is very much different from any other country and also it is the largest market in terms of premium amount according to federal Insurance Office (2014) Report. Insurance industry of US is regulated by each state individually means it is a state based insurance regulatory Read more…

Insurance Agency Management System – Direct versus Agency Billing

Author - Webner
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Basics first – Client is the insured person or who gets himself, his property or vehicle insured by the insurance company. Insurance company is also known as Insurance Carrier or insurer. And there is insurance agency that acts as interface between Client and Carrier to make it easy for Client to Read more…

Great British Discounts

Author - Webner

Webner has been involved in the development of another highly successful platform – Great British Discounts , Click to view. Owned and promoted by L-EV8 Marketing, Great British Discounts is the go to site for those who want to avail the best deals in life. Great British Discounts is the choice Read more…

ACORD Forms autofill

Author - Webner

We get this request from a lot of clients in US insurance industry who want to generate ACORD forms automatically, means they want data of corresponding insurance Policy filled automatically in the editable ACORD PDF. Most of the clients have their data in a CRM system like Salesforce or Zoho Read more…

Salesforce | System.VisualforceException: Getting content from within triggers not supported

Author - Webner
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Problem: System.VisualforceException: Getting content from within triggers is currently not supported.

Description: This Visualforce exception occurs when we use getContent method in the trigger of sobject.

Here is the code for which we got this exception:

Trigger code:
trigger updateStatus on sobject (before update) {
List List = new List();
for Read more…

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