An endorsement is a version, not an edit

Policy Lifecycle

New business, mid-term endorsement, cancellation on a pro-rata, short-rate or flat basis, reinstatement, renewal, rewrite and premium audit — including out-of-sequence transactions, which every real book eventually produces. The contract as it stood on any date can be rebuilt, because the earned premium and the reserve are both computed from it.

322 policy transactions

Each one a version with its own effective date and its own premium movement — the ledger every dated figure is rebuilt from.

The form takes the shape of the class

Term life carries beneficiaries, their shares and a trustee for a minor; a motor contract carries Substitute a Vehicle and a Drivers tab instead. One model underneath.

Grouped by class of business

Fourteen classes written on the demonstration book, fifteen products under them.

Version integrity

A register that flags any transaction out of sequence with the versions around it, before an auditor does.