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Insurance Management

Insurance Management

Life insurance is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person. Depending on the contract, other events such as terminal illness or critical illness can also trigger payment.

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Insurance Management

Insurance management app is a business application developed by solufy in ERPNext version 14 for insurance companies, agencies, and clients. It helps insurance companies automate their day-to-day operation and keep records of all transactions. It helps companies manage multiple insurance policies, clients and their claims and reports.

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📢   For Version 14,

First needs to install ERPNext, Frappe HR app. After then install the Insurance Management app.


Insurance Management

Configuration:

➤ Branch

  • Create and Manage various branch.

➤ Policy Details

  • Manage polices details

➤ Scheme Details

  • Manage schemes with details like Scheme Name,Policy Name,Policy Code,Minimum Duration,Maximum Duration,Minimum Amount,Maximum Amount,Normal Coverage,Accident Coverage,Loan,Return and GST rate etc.

Let’s have a look at features of the Insurance Management

➤ Policy Management

  • Lets you creates various types of policies for customers
  • Flexibility to create different modes of payments for policies (Yearly,Half Yearly,Monthly,Quarterly)
  • Options to set policy according to its duration.
  • Calculate premium as per different modes of payments(Yearly,Half Yearly,Monthly,Quarterly)
  • Agent commision will automatically calculate once paid the policy premium by customer
  • Policy amount will be calculate automatically as per configure Policy Plan,Policy type,Duration in Year,Policy issue date
  • Policy Sale report is generated in PDF format
  • Policy premium is calculate with GST or Without GST rate
  • Easily adds attachments or notes about the insurance.

➤ Claim Management

  • Customer will cliam of insurance once expired the policy
  • LIC officer can check the policy after that pass the cliam and approve

➤ Agent Commission

  • Agent commission will be calculated after paid premium policy by customer also calculate total agent commision
  • Generate agent commision report

➤ Insurance Plan Report

  • Create insurance plan detail report as per need of the customer.
  • Customer can get info about specific plan: how much get future benefit and coverage like Yearly Premium,Normal Coverage,Accident Coverage,Loan, Returns etc
  • Insurance Plan report is generated automatically with Premium,Normal Coverage,Accident Coverage,Loan, Returns

➤ Customer Management

  • Create and manage records for customers of the company

➤ Agent Management

  • Create and manage records for agents of the company
  • Easily create a record of personal data of the agent.

➤ Key Reports

  • Agent Commission Report
  • Policy Claim Report
  • Policy Sale Report

License

MIT

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