DESIGN AND IMPLEMENTATION OF A COMPUTER BASED SYSTEM FOR UNDERWRITING INSURANCE
ABSTRACT
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.
Organization Of Work
This work is divided into two main parts. The first part includes the preliminaries, while the second part is the main body.
The preliminary part, consist of title page, the approval page, dedication, acknowledgement, table of figures, table of content and the abstract. Then the bibliography and appendices were after chapter seven.
The main body was divided into seven chapters.
Chapter one outlined the problem, definition, the purpose of the study, what the work is aiming at, the scope, constraints and assumptions. Chapter two reviewed the related literature. Chapter three described and analyzed the existing system, which specified the fact finding method used, the organizational structured, the objectives of the existing system, the input process and output analysis, the information flow diagram, problem of the existing system and justification for the new system.
Chapter four described the designed method of the new system, output specifications file design, the procedure chart, system flowchart and the system requirements. Chapter five is the implementation of the designed system, having the program design and flowchart with it pseudocodes, source program and text run. Chapter seven gave recommendation and concludes the work.
CHAPTER ONE
Introduction
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.
This project is developed so that most of the work done manually in the insurance companies will be carried out using computers with the aims to achieve efficiency and accuracy in the operation of the business (underwriting) and also to make the task of insurance managers easier to providing them with additional information.
In developing countries, insurance companies are the second largest users of computers, but its use in Nigeria Insurance Companies are comparatively very low. There are several areas of applications of computers in insurance companies apart from the ones mentioned above, the use of computers in insurance companies try to guard themselves against staff shortage in addition to performing the administrative work associated with customer’s proposal calculations of premiums and claims when necessary.
1.1 Statement Of The Problem
The need for proper and accurate information for the underwriting of insurance policies cannot be over emphasized. But some insurance companies neglect this resulting poor performance of such company. Accurate information for the underwriting of insurance policies is very essential especially those policies that involves human life. In a case where false and inaccurate information flows in and out, the company is bound to encounter many problems like high wastage of money on settlement of claims, commissions, premiums of individual life assurance proposals.
In African-European Insurance Co., the company is still facing the problem of misfiling many hands handling one file, mis-sorting of files due to processing file manually.
Since African-European Insurance Co. is a very big company with many department, each department need to be computerized so as to carry it work efficiently. For instance, the Actuarial Services Department, which enters on the computation relating to premiums of individual life assurance proposals, preparation of accounting and member’s statements for Deposit Administration Schemes, liaison with consulting actuaries by supplying the necessary data for carrying out actuarial valuation.
1.2 Purpose Of The Study
The research deemed it necessary to carry out this work so as to point out those areas where the insurance company likes African-European Insurance Co. is one of every nation pride when we talk of economy. Not only that, it also involved indemnity.
The purpose of this study therefore is to point out in the necessity for the computerization of every department in the company. I mean developing software that will aid for easy and better information.
Also, to emphasize on the benefits to be obtained if one engaged in a business with an insurance company like African-European Insurance Co. The emphasis is much laid on the indemnity, the need to ensure promptness in the settlement of claims.
1.3 Aims And Objectives
The role of the insurer in any polity is of bearer of risks. In other words, the populace can feel insulted from risk when they take advantage of insurance to rely on when the unexpected strikes. It is for this reason that African-European Insurance Co. was rooted into existence.
It is interesting to note that insurance has over the years developed both positive and negative facets. Positives in its insulate function, negative in its refusal to perform this function. Such as this negative facet rooted itself in one psyche that the average Nigeria would probably insure only what is decreed for him to insure, such as his car.
Based on these, the study wants to achieve the following objectives.
- To find out whether there is a computerized insurance underwriting system in the case study (African-European Insurance Co.)
- To find out whether the company is able to carry out all the insurance policies especially those that involved underwriting.
- To examine the method of information flow in and out of the company.
- To identify the various problem encountered by the organization in the management information services department.
- To make useful recommendation of the development of a software which can be used to solve the existing problems.
1.4 Scope Of The Study
The system is designed to run on IBM Personal Computers and its compatible. Because of the many aspects in the insurance companies, this system is based on the “underwriting” aspects, which involved the various insurance policies (life and non-life policies) carried out by collecting various data such as proposal’s particulars, calculate premium and claims required.
CHAPTER TWO
2.0 Literature Review
2.1 Introduction
The review of relevant literature is the main topic of this chapter. A literature review covers theoretical and methodological contributions to a certain issue in addition to the state of knowledge at the time of writing. It provides information about the state of the art in relation to the subject you are writing about. It examines the body of work on the chosen subject. The literature evaluation in this study comprises the …
Procedure for Downloading the PDF (Docx) Material
Design and Implementation of a Computer Based System for Underwriting Insurance can be downloaded by requesting the full set of materials at the project or seminar cost. The document will be sent via Microsoft Word (MS-Word) format via WhatsApp (e-mail) following payment confirmation.
| Seminar Material Cost ₦3,000 | Project Material Cost ₦5,000 |
Request Complete Material
 | Click here to request the Complete Material via WhatsApp including;
|
TABLE OF CONTENTSPRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
INTRODUCTION
- ⋮
LITERATURE REVIEW
- 2.1 Introduction
- ⋮
CHAPTER THREE
SYSTEM ANALYSIS AND DESIGN
- 3.1 Methodology Adopted
- 3.1.1 Problem Identification Using SSADM
- 3.2 Analysis of the Existing System
- 3.2.1 Dataflow of the Existing System
- 3.2.2 Disadvantages Of The Existing System
- 3.2.3 Weakness of the existing System
- 3.3 Feasibility Study
- 3.3.1 Economic Feasibility
- 3.3.2 Technical Feasibility
- 3.3.3 Operational Feasibility
- 3.4 Analysis of the Proposed System
- 3.4.1 Data Flow Diagram of the Proposed System
- 3.4.2 Advantages of the Proposed System
- 3.4.3 Justification of the Proposed System
- 3.5 Functional Requirements
- 3.5.1 Use Case Diagram Of The Admin / User Privileges
- 3.6 Data Requirements
- 3.7 High Level Model of the Proposed System
CHAPTER FOUR
SYSTEM DESIGN AND IMPLEMENTATION
- 4.1 Objectives of the Design
- 4.2 Cohesion and Decomposition High level Model
- 4.3 Control Center / Overall Dataflow Diagram
- 4.3.1 Proposed System Operation Flowchart
- 4.4 System Specification and Design
- 4.4.1 Input and Output Specification
- 4.4.2 Database Specification and Design
- 4.4.3 Data Dictionary
- 4.5 Choice and Justification of Programming Language
- 4.6 Program Documentation
- 4.7 Implementation Techniques
- 4.7.1 System Testing
- 4.8 Programming Module Specification
- 4.8.1 Installation
- 4.9 Computer Hardware Minimum Requirement
- 4.10 Software Requirement
- 4.11 Personnel / User Training
- 4.12 File Maintenance Module
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
- 5.1 Introduction
- 5.2 Summary
- 5.3 Conclusion
- 5.4 Recommendation
REFERENCES
APPENDIX A - “SOURCE CODE”
APPENDIX B - “OBJECT PROGRAM”
Disclaimer for Complete Material Utilization
The displayed research work titled "Design and Implementation of a Computer Based System for Underwriting Insurance" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
PRELIMINARY PAGES
- Title page
- Approval page
- Dedication
- Acknowledgement
- Table of Contents
- Abstract
INTRODUCTION
- ⋮
LITERATURE REVIEW
- 2.1 Introduction
- ⋮
CHAPTER THREE
SYSTEM ANALYSIS AND DESIGN
- 3.1 Methodology Adopted
- 3.1.1 Problem Identification Using SSADM
- 3.2 Analysis of the Existing System
- 3.2.1 Dataflow of the Existing System
- 3.2.2 Disadvantages Of The Existing System
- 3.2.3 Weakness of the existing System
- 3.3 Feasibility Study
- 3.3.1 Economic Feasibility
- 3.3.2 Technical Feasibility
- 3.3.3 Operational Feasibility
- 3.4 Analysis of the Proposed System
- 3.4.1 Data Flow Diagram of the Proposed System
- 3.4.2 Advantages of the Proposed System
- 3.4.3 Justification of the Proposed System
- 3.5 Functional Requirements
- 3.5.1 Use Case Diagram Of The Admin / User Privileges
- 3.6 Data Requirements
- 3.7 High Level Model of the Proposed System
CHAPTER FOUR
SYSTEM DESIGN AND IMPLEMENTATION
- 4.1 Objectives of the Design
- 4.2 Cohesion and Decomposition High level Model
- 4.3 Control Center / Overall Dataflow Diagram
- 4.3.1 Proposed System Operation Flowchart
- 4.4 System Specification and Design
- 4.4.1 Input and Output Specification
- 4.4.2 Database Specification and Design
- 4.4.3 Data Dictionary
- 4.5 Choice and Justification of Programming Language
- 4.6 Program Documentation
- 4.7 Implementation Techniques
- 4.7.1 System Testing
- 4.8 Programming Module Specification
- 4.8.1 Installation
- 4.9 Computer Hardware Minimum Requirement
- 4.10 Software Requirement
- 4.11 Personnel / User Training
- 4.12 File Maintenance Module
CHAPTER FIVE
SUMMARY, CONCLUSION AND RECOMMENDATION
- 5.1 Introduction
- 5.2 Summary
- 5.3 Conclusion
- 5.4 Recommendation
REFERENCES
APPENDIX A - “SOURCE CODE”
APPENDIX B - “OBJECT PROGRAM”
Disclaimer for Complete Material Utilization
The displayed research work titled "Design and Implementation of a Computer Based System for Underwriting Insurance" is stated as a research guideline towards accomplishing your assigned project / seminar research work. All the research materials on this website are ONLY for research purposes and should be used as a guideline in developing your research work. For no reason should you copy word for word as projectlist.com.ng will not be liable for any who copied the material. By ordering the complete research guideline, it signifies that you've accepted our terms of service.
Frequently Asked Questions (FAQ)
Can the material for “Online Price Determining System for Shop Products” be used as a guide for Computer Science (CS) Project?
Yes it can be used — Computerized Price determining system is a system that uses computers to input, process, store and output accounting information in form of financial reports. The aim of the study is to Design and Implement of a Computerized Price Determining System for Shop Wares using Roban Stores as a case study. In achieving this aim, the following objectives were laid out to design and implement an application software that will: eliminate the above problems such as misplacement of vital information, documents, records, duplications of efforts etc, and a lot of time is wasted or taking when locating and processing of vital files, reduce the duplications efforts due to in-accuracy in activities and time taken in locating of files when it is required …
Is the topic “The Effect of Social Media on Students Academic Performance” recommended for Education Project?
Yes it is highly recommended — The study was carried out to investigate the Effect of Social Media on Students Academic Performance using Some selected Secondary School in Odeda Local Government as a case study. Investigation revealed that the educational system in Nigeria is faced with so many challenges which have certainly brought about a rapidly decline in the quality of education. There is a deviation, distraction and divided attention between social networking activities and their academic work. The research design used in this report is descriptive design, utilizing questionnaire method to obtain information from the respondents for this project. Primary data were collected from the primary source which questionnaire was used as an instrument of data collection while secondary data were sources from textbooks, journals, …
Can the material for “Impact of Performance Appraisal on Employees Motivation” be used as a guide for Business Administration and Management (BAM) Project?
Yes it can be used — Appraisal is very significant tool inside the man supremacy management, stipulation it is conduct properly along with reasonably, it can carry out the organization to their ambition and the employees determination accomplish their wellbeing. Within this manuscript I study the sound possessions of concert assessment consequences taking place the staff enthusiasm. “The aptitude to craft superior verdict Vis-à-vis populace corresponds to solitary of the preceding steadfast foundation of workforce assessment, while exceptionally hardly any association is good by the side of it.” Peter Drucker. …
Can this topic “Integrated Web-Based Management Application for Small Business Enterprise (SME)” be used for Management Project?
Yes it can be utilized for research — The appearance of the Internet has led to a revolution in many spheres of human activity, however, probably the biggest impact it has had in developing the global business environment. Information, their availability and speed of exchange are the basis of successful modern business enterprise, and the Internet in this context is the perfect tool for finding and distributing information. Complex, Web applications have become essential for survival and development of modern enterprises in a global, international markets. Web applications are by nature distributed applications, which means that they are programs that run on more than one computer and communicate via a network. Specifically, the web application is accessed via a web browser and therefore update and maintain web applications …
Can the material for “Design and Implementation of an Online Airline Reservation Information System” be used as a guide for Computer Science (CS) Project?
Yes it can be used — An Airline Reservation Information System is a computerized system used to store and retrieve information and conduct transactions related to travel. The aim of the study is to Design and Implement an Online Airline Reservation Information System. In achieving this aim, the following specific objectives were laid out as follows to design and develop an application software that will minimize cost of maintenance instead of spending more money in purchasing of new equipment and increase output of passenger manifest with the interconnection more than one computer system over network. The motivation that led to the implementation of the proposed system is as a result of inefficiency will be notified and new system design implemented. With references to the rapid growth …
Can the material for “The Impact of Single-Parenting on Academic Achievement of Students in Selected Secondary Schools” be used as a guide for Guidance and Counselling Project?
Yes it can be used — The descriptive survey research was adopted in this study. It is an attempt to investigate the impact of single-parenting on academic performance of students in selected secondary schools in Mainland Local Government Area of Lagos State. A sample of 200 randomly selected students were used. Another sample of 50 randomly selected parents and teachers were also used. A 4 point Likert scale type questionnaire containing 20 items and 20 questions on social studies was administered to the students. The content of the instrument were face validated by my supervisor and other experts in the department. While the reliability was ascertained at 0.5 significant level. Two null hypotheses were postulated and tested using the independent t-test. The first and second hypotheses were …
Can this topic “Computerization of an Electronic Fund Transfer System” be used for Computer Science (CS) Project?
Yes it can be utilized for research — Electronic fund transfer system is an organized process of transferring fund through electronic means by the use of computer where debits and credits are made into ones account. The aim of the study is to design and implement an electronic fund transfer system. In achieving this aim, the following specific objectives were laid out as follows to develop an application software that will provide a very fast convenient, reliable and secure way of crediting to the accounts of their friends and relatives, Provide accurate and timely information will be made available hence efficiency will be advanced and maintain operational efficiency as a means of warding off competitive threat. The motivation the led to the implementation of the proposed system is …
Can the material for “Construction of a Programmable Centrifuge” be used as a guide for Science Laboratory Technology (SLT) Project?
Yes it can be used — The centrifuge is used in a laboratory and it is used for spinning of blood and urine samples, and it is widely molecule, subcellular and cellular component in bio chemistry, cellular and molecular in biology and medicine. This projects presents the construction of a programmable centrifuge. The centrifuge is made up of the roter which is used for spinning of the samples, the test tube which is used for collecting the samples, the container which is made with a cylinder and it has a cylindrical shape etc. with the aid of a centrifuge we can be able to spin our sample very fast with a correct result. …
Can this topic “A Study Analysis of Human Trafficking in the Movie Oloture by Mo Abudu” be used for Performing Arts Project?
Yes it can be utilized for research — Human trafficking transport persons across international borders or within countries to exploit them for labor or sex, has received renewed attention within the last two decades. The study was carried out to analyze human trafficking in the Movie Oloture by Mo Abudu. In achieving this aim, the specific objectives were laid out to ascertain the impact of human trafficking in the Movie Oloture by Mo Abudu, investigate the role of unemployment in promoting human trafficking, investigate the relationship between poverty and human trafficking, and ascertain the effect of human trafficking on the economic growth of the state. Trafficking for forced labor or sexual exploitation is believed to be one of the fastest growing areas of criminal activity. Combating trafficking has …
Can this topic “Design and Implementation of an Online Car Rental System” be used for Computer Science (CS) Project?
Yes it can be utilized for research — Car Rental System is a web based system for a company that rents out cars. This system enables the company to make their services available to the public through the internet and also keep records about their services. The aim of the study is to design and develop an Online Car Rental System. In achieving this aim, the following specific objectives were laid out as follows to design and develop a software that will provide a better, easier and more efficient method of vehicle rental and tracking, allow for the generation and assignment of an infinite unique identification number to rental vehicles for tracking purpose, develop a web based system that will help manage the business transactions of car renting …