TheInsuranceCompany.txt

Outline Requirements for "The Insurance Company"

The Insurance Company is a national organization that divides the country 
into regions based on differing laws governing insurance businesses, both in 
respect of accounting and reporting, and in terms of how insurance policies 
are regulated. The organization wants to be able to collate accounting 
informat ion overall, at the regional level, and for each individual office. 
Many of these reports take a standard form, but sometimes ad-hoc reports are 
required.

The Insurance Company currently sells three policies, Bronze, Silver, and 
Gold. The differences between the policies relate to a number of areas:
Covered items / events
Premium and handling fees
Available coverage limits
Bronze coverage will always be offered, but silver and gold are only 
available for approved applicants

Clients can pay for policies either by making a 100% up-front payment, or by 
being accepted for credit by one of three companies the organization has 
agreements with. The three companies accept different levels of risk and 
charge fees in direct proportion to the level of risk they take on. Because 
of this, a client seeking a credit agreement will be directed to the lowest 
cost service that accepts their application.

Purchasing a new policy proceeds by collecting all the necessary 
information, and issuing a proposal including the premium and a credit 
offer. These are subject to local laws & taxes, along with risk analysis for 
both the insured risk and the creditworthiness of the applicant.

While the policy is in force, a scoring system collects information about 
certain events (e.g. on-time or late payments, the client taking courses to 
reduce their risk, or events that are deemed likely to increase risk). At 
any given point the client will be in one of several categories, and the 
events that occur can accumulate for better or worse to change the client's 
particular grouping. At renewal time, the grouping is also factored into the 
renewal premium.