Insurance Archives

What is an MGA?

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Introduction

A managing general agent (MGA) or a managing general underwriter (MGU) is a specialized type of insurance agent/broker who is granted underwriting authority from an insurer. Specific functions in the insurance sector such as binding coverage, underwriting and pricing, appointing retail agents within a particular area Read more…

The difference between an insurance writing company and the parent insurance company

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Parental Insurance Company:

A parent insurance company is an entity that is the overlooking entity for one or multiple subsidiary companies. These subsidiary companies can be totally independent or partially independent of the parent company. The purpose is to create smaller entities focused on a well-scoped area Read more…

Liability Coverage in Insurance

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If you cause an accident on your property or someone is wounded on your land, you may be held legally responsible for the resulting costs, such as medical or legal bills. Liability coverage can shield you against these types of costs, which is why it’s important to know the Read more…

Types of coverages associated with Auto Insurance

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If we are looking to buy a new vehicle or for auto policy then we should be aware of the types of coverage available. If we met with a vehicle accident then insurance coverages protect us, our passengers, and our vehicle.

Auto liability coverage, uninsured and underinsured motorist coverage, comprehensive Read more…

The Top 5 Benefits of Comprehensive Car Insurance

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A comprehensive motor vehicle insurance policy protects your motor vehicle from any unlooked-for event except a collision. It covers the loss during an accident. Let’s take a look at the other benefits of this. As per the Motor Vehicle Act, third-party insurance is mandatory and you must Read more…

Free Look Period in various Insurance Policies

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A policyholder is provided a free look period during which he or she can analyze and review the policy document. If you are not pleased with the policy’s inclusion and exclusion provisions as stated at the time of purchase, you can cancel it during the free look period. A Read more…

Common Payment Plans in P&C Insurance

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Term insurance is a basic product that is simple to follow. A term insurance policy’s coverage can be extensive, and the premium for such a policy is reasonably priced. As a result, such a product should be the backbone of any financial portfolio because it provides exceptional protection. This Read more…

Rest CallOut in LWC

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Rest CallOut can be made in Salesforce in two ways:

Server-side controller (Apex Class)
Client-side controller (Js Controller)

Server-side controller (Apex Class): We can make an API callout from Apex , which provides support for REST and SOAP callouts. Before making callouts from the apex, we Read more…

What are the ACORD Forms/Certificates?

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Introduction

ACORD stands for Association for Cooperative Operations Research and Development is an international organization that provides standardized certificates and forms in the sector of insurance and related financial services industries. ACORD was established in 1970. In its earlier time, It was settled as Read more…

What is the National Producer Number and who assigns it?

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National Producer Number:

NPN is a unique NAIC identification number that is assigned through the National Association of Insurance Commissioner’s which is used to track individuals and business entities. It is assigned through the license application process.

The National Insurance Producer Registry (NIPR) was established in October Read more…

Homeowner Application Coverages

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Homeowner Insurance helps you protect your home in case of any hazard, or an accident. A few of the coverages that fall under Homeowners insurance are:

Dwelling

Dwelling coverage in the homeowner’s application helps you to pay for the repair or rebuilding of the physical structure of Read more…

Insurance Endorsement

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Insurance Endorsement?

An endorsement is a policy modification that can be made throughout the policy’s term without having to renew it. As a result of the endorsement, your premiums may change. They’re commonly found in property and casualty insurance plans. Health and life insurance coverage can Read more…

Multi-Car Credit In Auto Insurance

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What Is a Multi-Car Insurance Policy?

A multi-car insurance policy covers multiple cars, trucks, or other vehicles. You can save money by bundling your automobiles.

This strategy is also known as a “schedule of cars” policy or a “many vehicle policy.” These policies are usually only Read more…

The RefreshApex Method and its implementation in the Lightning Web Component

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The refreshApex() function is used when we want to refresh the page data in lightning web components. We can update the wire function or parameter data using refreshApex (), and then component values will be rendered. Refresh apex works only when you pass the complete response as the argument.

Syntax Read more…

What Role Does Insurance CRM Play in Agency Management?

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Agency management software, according to the definition, is a digital solution that enables life, health, and property & casualty insurance agencies to automate their day-to-day duties and increase the efficiency of their operations. The new-age insurance CRM software has been developed to meet the needs of insurance agencies Read more…

Create Component In LWC and display in salesforce page

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Following are the steps to create component in LWC and display in salesforce page:

Create Default Search org from VS code.

Authorize an Org.

Create Lightning web component.

After creating the lightning web component it will show the component under the LWC folder as shown in the image Read more…

How to Pass Data From one Component to another Component in Lightning Using Events

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We can send data from One Lightning Component to Another Lightning Component using Events. We can use Application Events to send data from one Lightning Component to another.

We have to follow 4 steps to send data from one component to another component.

Create Event
Register Event
Fire Read more…

Date Time format in CSV to upload on Salesforce

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While uploading CSV to create records in Salesforce using workbench. Sometimes we need to upload date-time fields. I have used many formats which were suggested in the Salesforce documentation but none of them works for me. The only format for date-time which works is
YYYY-MM-DDTHH:MM Read more…

Features of lightning:recordEditform, force:recordData, lightning:recordViewform in Salesforce Lightning

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In salesforce lightning, sometimes we need to create, edit and save the records in the component. This is the time 3 types of components come into mind that arṣe recordEditform, RecordViewfrom, and recordData. We always get confused about which one to use.
The functionality of these components is basically Read more…

Salesforce | Lightning Web component Lifecycle hooks

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Lightning Web component Lifecycle Hooks:

These are the callback methods that execute at a specific phase of the Lightning Web component’s lifecycle. There are various types of lifecycle hooks:

constructor(): This method executes whenever the web component is initialized. The flow of execution is from Read more…