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.
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.
📢 For Version 14,
First needs to install ERPNext, Frappe HR app. After then install the Insurance Management app.
- Create and Manage various branch.
➤ Policy 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