Life Insurance and Annuities concepts and Oracle Insurance policy admin

Duration: Hours



    Training Mode: Online



    1. Introduction to Life Insurance:

    Basic concepts and principles of life insurance.
    Types of life insurance policies (term life, whole life, universal life, etc.).

    2 . Annuities Overview:

    Understanding annuities as financial products.
    Different types of annuities (fixed, variable, immediate, deferred).

    3 .Underwriting Process:

    Risk assessment and underwriting in life insurance.
    Factors influencing underwriting decisions.

    4 . Policy Components:

    Examining the components of a life insurance policy.
    Policyholders, beneficiaries, premiums, face value, etc.

    5 . Policy Riders and Options:

    Optional features and riders that can be added to a life insurance policy.
    Examples include accidental death benefit, waiver of premium, etc.

    6 . Annuity Payout Options:

    Understanding the various ways annuities can pay out.
    Life-only, joint and survivor, period certain, etc.

    7 . Oracle Insurance Policy Administration:

    Introduction to Oracle Insurance Policy Administration:

    Overview of the Oracle Insurance Policy Administration (OIPA) system.
    Key features and benefits.

    8 . System Architecture and Components:

    Understanding the architecture of the OIPA system.
    Modules and components.

    9 . Product Configuration:

    Configuring life insurance and annuity products in OIPA.
    Defining product rules, coverages, and features.

    10 . Policy Lifecycle Management:

    Managing the entire policy lifecycle, from application to claims.
    Policy issuance, endorsements, renewals, and cancellations.

    11 . Integration with Other Systems:

    Integration capabilities with other systems and platforms.
    Data exchange and interoperability.

    12 . Business Rules and Workflow:

    Configuring business rules within OIPA.
    Workflow automation and process customization.

    13 . Reporting and Analytics:

    Generating reports and analytics using OIPA data.
    Customizing and accessing relevant information.

    14 . User Training and Support:

    Training resources for system users.
    Support and maintenance considerations.


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