Data Model Description
If you want to generate a new policy for your SME through the Term Life Quote & Apply journey, you can use a predefined industry standard data model for insurance products, which you can further customize and tailor to your business needs.
The Term Life Quote & Apply solution's data model was built based on the business entities created in Innovation Studio. It contains both entities used throughout several solutions, defined in the
Common Data Model, which covers the most important industry-specific entities and data sets referring to applicants and their address, as well as extensions, which are business-specific entities needed for this use case.
The final generated quote is the central object of this accelerator and it is stored in the
Quote Life entity. It contains information about the quote number, data processing and email notification agreements, and it is linked to the entities that store data about the applicant and he agent.
During the implementation phase of your project, you can extend the existing data model to fill your specific business needs.
The data model contains entities designed specifically to hold data for the following:
The version of the quote;
The client's consent to marketing messaging and consultancy;
Full name and contact details of the agents;
Full name and contact details of the discarded agents, as well as the discard reason;
Full name, contact details, and the bank details of the applicant;
The BMI of the applicant for underwriting purposes.