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Scenario for Life and Annuity Policies

This scenario features sample tasks performed by a Siebel administrator and a licensed sales representative. Your company might follow a different workflow according to its business requirements.

In this scenario, a Siebel administrator defines life and annuity coverages and creates assessment templates.

A licensed sales representative for a life insurance company is on the phone with a prospective customer who has called to request a quote for Variable Life insurance. She searches for the contact in Siebel Insurance and finds that the customer is part of an existing household. She adds a new life quote as well as data about the type of policy and the proposed insured.

Next, she fills out a rating questionnaire for the prospect and creates an underwriting report. Then, she adds information about coverages and amounts. After that, she adds beneficiaries, and then sets up a payment plan with a bill-to address. After the data has been collected, she submits it to an external rating engine to determine the premium.

She gives the prospect a verbal quote for the policy and the customer agrees to purchase it. Then, she follows the procedures implemented by her company to submit the policy application for underwriting.

After the policy is issued, she can submit loan, transfer, withdrawal, and surrender requests.

End users are the sales representatives who manage customer requests. They enter information to:

• Generate a life insurance or annuity quote
• Add underwriting information or order an underwriting quote
• Add a beneficiary
• Set up a payment plan and add a bill-to-address
• Submits the policy application for underwriting