Functional requirements of Insurance Management System with non-functional
Functional Requirements
- User Authentication and Authorization
- Allow users (e.g., policyholders, agents, underwriters, administrators) to create accounts, log in, and manage their profiles.
- Implement role-based access control to restrict access based on user roles (e.g., admin, agent, underwriter, policyholder).
- Policy Management
- Manage insurance policies, including creation, modification, renewal, and cancellation.
- Support various types of insurance policies (e.g., health, auto, life, property) with different coverage options and terms.
- Claims Management
- Facilitate the filing, tracking, and processing of insurance claims.
- Provide tools for managing claim status, documentation, and approvals.
- Premium Management
- Calculate and manage insurance premiums, including billing, payment collection, and adjustments.
- Provide tools for generating premium invoices and handling payment processing.
- Customer Management
- Maintain customer profiles, including contact information, policy details, and claim history.
- Provide tools for updating customer information and managing customer interactions.
- Policyholder Communication
- Facilitate communication with policyholders through notifications, alerts, and messages regarding policy status, claims, and renewals.
- Provide tools for sending reminders for policy renewals and payment due dates.
- Underwriting Management
- Manage underwriting processes, including risk assessment, policy approvals, and documentation.
- Provide tools for evaluating risk factors and making underwriting decisions.
- Reporting and Analytics
- Generate reports on policy performance, claims statistics, premium revenue, and customer data.
- Provide analytics on risk assessment, claim trends, and operational efficiency.
- Document Management
- Manage and store insurance-related documents, including policy documents, claims forms, and correspondence.
- Provide tools for document generation, storage, and retrieval.
- Integration with External Systems
- Integrate with external systems such as payment gateways, CRM systems, and financial institutions for seamless operations.
- Support API integration for extending system capabilities and connecting with third-party services.
- Regulatory Compliance
- Ensure compliance with relevant insurance regulations and standards (e.g., GDPR, HIPAA).
- Provide tools for managing compliance-related documentation and processes.
- User Interface and Experience
- Provide an intuitive and user-friendly interface for managing policies, claims, and customer interactions.
- Ensure ease of navigation and accessibility features for users with different needs and abilities.
- Fraud Detection and Prevention
- Implement tools for detecting and preventing fraudulent activities related to policies and claims.
- Provide mechanisms for monitoring suspicious activities and generating alerts.
Non-Functional Requirements
- Performance
- Ensure quick response times for policy management, claim processing, and reporting.
- Handle high volumes of transactions and user interactions efficiently.
- Scalability
- Support the addition of new policies, claims, and users as the system grows.
- Scale to accommodate increasing data volumes and user traffic.
- Reliability
- Ensure high system availability with minimal downtime.
- Implement backup and recovery procedures to protect data and ensure business continuity.
- Security
- Protect sensitive customer and financial data with encryption and secure access controls.
- Implement measures to prevent unauthorized access, data breaches, and fraud.
- Usability
- Provide an intuitive and user-friendly interface for managing insurance policies, claims, and customer interactions.
- Ensure ease of navigation and accessibility features for users with different needs and abilities.
- Maintainability
- Design the system for easy updates, maintenance, and troubleshooting.
- Provide clear documentation for system administrators, insurance agents, and support personnel.
- Compatibility
- Ensure compatibility with various devices (e.g., desktops, tablets, smartphones) and web browsers.
- Integrate seamlessly with other systems and software used in insurance management.
- Data Integrity
- Ensure accuracy and consistency of policy details, claim information, and financial transactions.
- Implement validation checks and error-handling mechanisms to maintain data quality.
- Support and Documentation
- Provide user manuals, help guides, and support resources for troubleshooting and training.
- Offer technical support for system issues and maintenance.
- Auditability
- Maintain logs of system activity, policy transactions, and user actions for auditing purposes.
- Provide audit trails for policy management, claim processing, and regulatory compliance.