Life Insurance Data Models

The major products of life insurers are life insurance and annuities.

In fact the primary business of life insurance companies is no longer traditional life insurance, but the underwriting of annuities, which are contracts that guarantee a fixed or variable payment over a given period of time.

Life insurance, which is sometimes referred to as life assurance, provides for a payment of a sum of money upon the death of the insured.

Life insurance can also be used as a means of investment or saving.

Life insurance was once sold primarily by career life insurance agents, who represented a single insurance company, and by independent agents who represent several insurers.

Today life insurance products are sold via a number of channels including mail, telephone, internet, banks, financial advisors, various organizations, in the workplace and directly to the public by the insurance company themselves.

US Life Insurance companies had aggregate assets exceeding $4.5 trillion dollars in 2004 with 47% of households owning some form of individual life insurance.

The Life Insurance industry models consist of a set of integrated Enterprise, Business Area, Data Mart and Data Warehouse logical data models developed for companies providing insurance products and services to the life and annuity insurance industry.

> Policyholder
> Beneficiary
> Needs Assessment
> Product Suitability
> Policy
> Insurer
> Channel
> Marketing
> Advertising
> Insurance Product
> Financial Reporting
> Business Metrics

"ADRM Vertical Industry Data Models"
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