Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Scribd Logo
Upload

Welcome to Scribd!

  • 8 views

    5

    Uploaded by

    ronakpatel1988
    The document outlines a business requirements document (BRD) template for a personal accident insurance product. It includes sections for business objectives, market analysis, product features, regulatory compliance, underwriting, claims management, distribution channels, marketing, technology, risk management, timelines, budget, and approvals.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    5

    Uploaded by

    ronakpatel1988
    8 views3 pages
    The document outlines a business requirements document (BRD) template for a personal accident insurance product. It includes sections for business objectives, market analysis, product features, regulatory compliance, underwriting, claims management, distribution channels, marketing, technology, risk management, timelines, budget, and approvals.

    Original Description:

    presentation

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document outlines a business requirements document (BRD) template for a personal accident insurance product. It includes sections for business objectives, market analysis, product features, regulatory compliance, underwriting, claims management, distribution channels, marketing, technology, risk management, timelines, budget, and approvals.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    8 views3 pages

    5

    Uploaded by

    ronakpatel1988
    The document outlines a business requirements document (BRD) template for a personal accident insurance product. It includes sections for business objectives, market analysis, product features, regulatory compliance, underwriting, claims management, distribution channels, marketing, technology, risk management, timelines, budget, and approvals.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    You are on page 1of 3

    1.

    Introduction
     Provide a brief overview of the Personal Accident insurance product.
     State the purpose and objectives of the BRD.
     Describe the importance of introducing this product to the market.
    2. Business Objectives
     Define specific business goals and objectives for launching the Personal
    Accident insurance product.
     Outline how the product aligns with the company's strategic goals and
    objectives.
     Specify key performance indicators (KPIs) to measure the success of the
    product.
    3. Market Analysis
     Conduct a comprehensive analysis of the market for Personal Accident
    insurance.
     Identify target customer segments, their demographics, needs, and
    preferences.
     Analyze competitors' offerings, market trends, and potential
    opportunities or threats.
    4. Product Features and Benefits
     Define the features and benefits of the Personal Accident insurance
    product.
     Specify coverage options, including accidental death, disability, medical
    expenses, and other relevant benefits.
     Highlight unique selling points (USPs) and value propositions of the
    product compared to competitors.
    5. Regulatory Compliance
     Identify and comply with regulatory requirements related to Personal
    Accident insurance.
     Ensure that the product meets all legal and compliance standards in
    relevant jurisdictions.
     Document any licenses, permits, or certifications required for offering
    the insurance product.
    6. Underwriting Guidelines
     Develop underwriting guidelines for assessing risk and determining
    premium rates.
     Define eligibility criteria, factors affecting coverage, and risk assessment
    processes.
     Ensure fairness, consistency, and transparency in underwriting
    decisions.
    7. Claims Management Process
     Outline the claims management process for the Personal Accident
    insurance product.
     Specify how customers can file claims, and describe the documentation
    and information required.
     Define the procedures for claims evaluation, processing, and
    settlement.
    8. Distribution Channels
     Determine the distribution channels through which the Personal
    Accident insurance product will be sold.
     Consider partnerships with insurance agents, brokers, online platforms,
    or other distribution channels.
     Define strategies for reaching target customers effectively.
    9. Marketing and Sales Strategy
     Develop a comprehensive marketing and sales strategy to promote the
    new product.
     Define pricing strategy, promotions, advertising channels, and sales
    targets.
     Outline customer acquisition and retention strategies.
    10. Technology Requirements
     Identify the technology infrastructure needed to support the product.
     Specify IT systems for policy administration, claims processing,
    customer service, and data analytics.
     Ensure compatibility and integration with existing systems and
    platforms.
    11. Risk Management
     Assess and mitigate risks associated with the product, such as
    underwriting risk, claims risk, and regulatory risk.
     Develop risk management strategies to safeguard the financial stability
    of the company.
     Establish contingency plans for managing unforeseen risks and
    challenges.
    12. Timeline and Milestones
     Define the project timeline and key milestones for product
    development, testing, regulatory approval, and launch.
     Allocate resources and establish deadlines for each phase of the
    project.
    13. Budget and Resource Allocation
     Estimate the budget required to develop, launch, and support the new
    product.
     Identify resources, including personnel, technology, and external
    vendors, needed to execute the project.
     Monitor and control expenses to ensure that the project stays within
    budget.
    14. Approval
     Obtain approval from relevant stakeholders, such as senior
    management, legal, compliance, and regulatory authorities, for the
    BRD.
     Document approvals and sign-offs to ensure accountability and
    commitment to the project.
    gwegvwrevwre

    You might also like