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- Life Insurance Management
- Process
- Operation reconciliation
Operation reconciliation
Issuance, claim, settlement and maturity actions leave operation receipts. A receipt identifies the action, operation key and expected revision. Its state helps the team separate an action still pending from one completed, failed or requiring review.
Step by step
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Find receipt Authorized Underwriter
Authorized Underwriter opens a pending or needs-review action and identifies its policy.
- Locate action and policy context
- Updates Operation receipts, Policies
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Inspect effects Authorized Underwriter
The underwriter compares effect references with the persisted policy, claim, payment or maturity record.
- Compare recorded effect identities
- Updates Operation receipts, Policies, Claims, Claim payments, Maturity reviews
-
Decide resolution Authorized Underwriter
The underwriter determines whether the expected effects match the receipt.
- Determine whether effects match
- Updates Operation receipts
-
Verify completion Authorized Underwriter
The reconciliation action marks the receipt Completed only when those effects match.
- Move Pending or needs review to Completed on matching effects
- Updates Operation receipts
-
Retain exception Authorized Underwriter
A failed or unmatched action keeps its reason available for follow-up.
- Keep failure reason or needs-review state
- Updates Operation receipts
Who does what
Roles and permissions- Authorized Underwriter
- Reconciles and reviews the effect.
- Insurance Coordinator
- Supplies the original action context.
- Auditor
- Reads the result and reason.
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