ABSTRACT
The insurance business,
which involved compensation victim for financial loss suffered as a result of
risks life have many policies.
The researcher
seeks to study those that concerned the underwriting only. It has different
aspects of the business and involvement as it the area of underwriting of
policies.
The underwriting here means a process of taking decision on whether to accept
on insurance business. This work discuses extensively different types of
insurance policies and low to carry out the insurance business.
However, the design was carried out with the hope of computerizing the policies
so as to automate the system to curb most of the problems encountered in the
insurance companies.
Finally, when the design
is fully operational, there will be improved flow of information retrieval by
means of on line direct assess equinity system, which will improve direct
relations due to fewer computation 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 consists of title page, the
approval page, dedication, acknowledgement, table of figure, table of content
and the abstract. Them the bibliography and appendices were after chapter seven
the main body was divided into seven chapters 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 structure, the objectives of the
existing system, the input process and output analysis, the information flow
diagram, problem of to existing, system and justification for the new system.
Chapter five is the implementation of the designed system, having the program
design and flowchart with its pseudo codes, sources program and test run
chapter seven gave recommendation and concludes the work.
TABLE OF CONTENT
Title page
Abstract
Organization of work
Table of figures
Table of content
CHAPTER ONE
1.1 Introduction
1.2 Statement
of the problem
1.3 Purpose
of study
1.4 Aims
and objectives
1.5 Scope
of study
1.6 Definition
of terms
CHAPTER TWO
Literature review
3.1 Description
and analysis of the existing system
3.2 Fact
finding method used
3.3 Organizational
structure
3.4 Problems
of the existing system
3.5 Justification
for the new system
3.6 Input
process, output analysis
3.7 Information
flow diagram
CHAPTER FOUR
4.1 Design
of the new system
4.2 Files
design
4.3 Input
specification and design
4.4 Out
specification and design
4.5 Procedure
chart
4.6 Flowchart
4.7 System
requirement
CHAPTER FIVE
5.1 Implementation
5.2 Program
design
5.3 Pseudopodia
CHAPTER SIX
Documentation
CHAPTER SEVEN
Recommendation
/Conclusion
Reference
CHAPTER ONE
1.1 INTRODUCTIONS
In a sector of the
society there is a disaster, which many forms and on human being is immured to
them. There is no way of knowing who may happen. But at least some of the money
problems were net up by a group of people who come together to bear risks of
others, these people are known as “ Insurance”
Companies compensate or
indemnity the return for the financial loss suffered as a result of those risks
or life. They do not set out to eliminate the loss and cannot stop the disaster
or misfortune from occurring but rather they suffer the blow in a purely
financial sense of offering momentary compensation to the nation.
This project is
developed so that most of the work done manually in to the insurance companies
will be carried out using computers with the aim to achieve efficiency
and accuracy in the operations of the business (underwriting) and also to make
the task of insurance managers cashier to providing them with additional
information.
In developing countries,
insurance companies are the second largest users of computers but its use in
Nigerian 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.
1.2
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 in 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 settlement of claims, commissions, premiums
of individual life assurance proposals.
In NICON Plc, the
company is still facing the problem of misfiling, many hands handling one file,
missorting of files due to processing file manually. Since NICON is a very big
company with many deportments each department need to be computerized so as to
carry it work efficiently for instance, the actuarial services department,
which centers on the computation relating to premiums of individual life
assurance proposals, preparation of accounting and member’s for deposit
administration schemes, liaison with consulting actuaries by supplying the
necessary data for carring out actuarial valuations.
Another is the general
accounting department that takes care of gerneal accounting functions like
settlement of claims, commissions and other third party liabilities as well as
budgetary control and funds management.
1.3
PURPOSE OF THE STUDY
The researcher deemed it
necessary to carry out this work so as to point out those areas where the
insurance companies lack behind. This s essential because insurance company
likes NICON 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 a 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 on insurance
company like NICON. The emphasis is much laid on the indemnity, the need to
ensure promptness in the settlement of claims.
1.4
AIMS AND OBJECTIVES
The role of the
insurance in any polity is of bearer of risks. In other words, the populace can
feel insulted from risks when they take advantage of insurance to rely on when
unexpected strikes.
It is for this reason
that NICCON Plc was rooted into existence. It is interesting to note that
insurance has over the years developed both positive and negative facts.
Positive 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 foll owing objectives.
1. To find
out whether there is a computer-based information system for underwriting
insurance policies in the case study (NICON).
2. To find
out whether the company is able to carry out all the insurance policies
especially those that involved underwriting.
3. To
examine the methods of information flow in and out of the company.
4. To
identify the various problems encountered by the organization in the management
information servies department.
5. To male
useful recommendation on the development of a software which can be used to
solve the existing problems.
1.5 SCOPE OF THE STUDY
The system is designed
to run on IBM PERSONL 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 polices (life and Non life Policies)
carried out by collecting various date such as proposal’s particulars,
calculate premium and claims required.
Department | Computer Science |
Project ID Code | CMS0133 |
Chapters | 7 Chapters |
No of Pages | 44 pages |
Reference | YES |
Format | Microsoft Word |
Price | ₦4000, $15 |
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Contact Us On | +2347043069458 |