Important Points for IC 27 - Health Insurance Exam
Page 15 Of 27
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Data is one of the vital elements of health insurance business and is used in different departments for various purposes such as policy design, business performance monitoring, product pricing, financial reporting, asset liability management etc.
IRDA requires insurance companies/TPAs to capture and report data on periodical basis in specified format: policy data in table A, members data in table B, claims data in table C and outstanding claims data.
A data warehouse is a repository of an organisations electronically stored data, designed to facilitate reporting and analysis.
IRDA constituted an Insurance Information Bureau (IIB) to perform the function of collecting, collating and disseminating reliable and accurate data on the sector to researchers and policy makers.
Written premium is the premium received by an insurer in a particular period and it helps in identifying the average premium for both group and the individual policy.
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