Functional requirements of Insurance Management System with non-functional

Functional Requirements

1. 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).
2. 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.
3. Claims Management
   • Facilitate the filing, tracking, and processing of insurance claims.
   • Provide tools for managing claim status, documentation, and approvals.
4. Premium Management
   • Calculate and manage insurance premiums, including billing, payment collection, and adjustments.
   • Provide tools for generating premium invoices and handling payment processing.
5. Customer Management
   • Maintain customer profiles, including contact information, policy details, and claim history.
   • Provide tools for updating customer information and managing customer interactions.
6. 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.
7. Underwriting Management
   • Manage underwriting processes, including risk assessment, policy approvals, and documentation.
   • Provide tools for evaluating risk factors and making underwriting decisions.
8. 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.
9. Document Management
   • Manage and store insurance-related documents, including policy documents, claims forms, and correspondence.
   • Provide tools for document generation, storage, and retrieval.
10. 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.
11. Regulatory Compliance
    • Ensure compliance with relevant insurance regulations and standards (e.g., GDPR, HIPAA).
    • Provide tools for managing compliance-related documentation and processes.
12. 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.
13. 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

1. Performance
   • Ensure quick response times for policy management, claim processing, and reporting.
   • Handle high volumes of transactions and user interactions efficiently.
2. Scalability
   • Support the addition of new policies, claims, and users as the system grows.
   • Scale to accommodate increasing data volumes and user traffic.
3. Reliability
   • Ensure high system availability with minimal downtime.
   • Implement backup and recovery procedures to protect data and ensure business continuity.
4. Security
   • Protect sensitive customer and financial data with encryption and secure access controls.
   • Implement measures to prevent unauthorized access, data breaches, and fraud.
5. 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.
6. Maintainability
   • Design the system for easy updates, maintenance, and troubleshooting.
   • Provide clear documentation for system administrators, insurance agents, and support personnel.
7. 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.
8. 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.
9. Support and Documentation
   • Provide user manuals, help guides, and support resources for troubleshooting and training.
   • Offer technical support for system issues and maintenance.
10. 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.