DESIGN AND IMPLEMENTATION OF A COMPUTERIZED INSURANCE UNDERWRITING SYSTEM . A RESEARCH PROJECT MATERIAL ON COMPUTER SCIENCE
The insurance business, which involved compensation of indemnity victim for financial loss suffered, death or when one is ill have many policies.
The researcher seeks to study those that concerned the underwiritng only. It has different aspect of business and involvement, as it is the area of underwriting of policies.
The underwriting here means the process of accepting responsibility for an insurance policy so that you will pay money in case loss or damage happens. This work will discuss extensively the different types of insurance policies and how to carry out the insurance business. However, the design was carried out with the hope of computerizing the system so as to automate the system to curb most of the problem encountered in the insurance companies.
Finally, when the design is fully operational, there will be improved flow of information retrieval by means of online direct assess enquiry system, which will improve client relation due to fewer computational errors.
It is being said there “There is nothing as constant as change” in all sectors of the society, there is always the tendency of a disaster, which takes many forms and no human is immuned to them. There is no method or ways of knowing who will have a loss or when loss may happen. This brought about group of people coming together to bear risks of others thereby ensuring that at least some of the money problems were met, these people are known as “Insurance”.
Companies compensate or indemnity the return for the financial loss suffered as a result of those risks of life. They do not set out to eliminate the loss and cannot stop the disaster or misfortune from occurring, but rater they suffer the below in a purely financial sense of offering monetary compensation to the nation.