Domain Overview

Core concepts, workflows, and rules driving the insurance platform.

Bird’s Eye View

The platform connects generic definitions (Templates) to specific offerings (Products) and customer data (Submissions) to generate Quotes and Policies.

Core Domains

1. Template

The blueprint. Defines what data we collect and what can be configured.

• Submission Parameters: Questions for the customer.
• Product Parameters: Configuration for the underwriter.
• Formulas (SubmissionQL): The logic connecting questions to pricing.

2. Product

The implementation of a Template.

• Sets default limits and deductibles.
• Defines pricing strategies (e.g., “If Age > 50, multiply rate by 1.2”).

4. Quote

The intersection of Product and Submission.

• Rated Quote: Automated calculation (Product Rules + Submission Data).
• Non-Rated Quote: Manual pricing by an underwriter.

5. Binding

The legal contract.

• Freezes the Quote state.
• Allocates capacity (Insurers).
• Generates the Policy Reference.

5. Binding

The legal contract.

• Freezes the Quote state.
• Allocates capacity (Insurers).
• Generates the Policy Reference.

Data Model

The system is built around these key entities:

• Product: Insurance offering definition (coverage types, limits, pricing rules).
• Submission: Initial application containing risk data.
• Quote: Formal offer with calculated premium, derived from a Submission.
• Policy: Bound insurance contract, active for a specific period.
• Claim: Loss event record filed against an active Policy.

Workflows

1. Submission to Quote

User submits risk details. System validates data against Product rules. If eligible, generates a Quote with calculated premium.

2. Binding (Quote to Policy)

Quote accepted -> Payment terms agreed -> Quote “bound” into Policy. Coverage active.

3. Claims Processing

Loss occurs -> Claim opened. Validates coverage, assesses damages, processes payments.