Design And Implementation Of A Computerized Insurance Application And Registration System

CHAPTER ONE GENERAL INTRODUCTION INTRODUCTION Insurance is a promise of compensation for specific potential future losses such as damage, illness or death in exchange for a periodic payment. It is designed as a risk management mechanism to protect the financial well being of an individual, company or other entities in the case of unexpected loss. Some forms of insurance are required by law while others are optional. Agreeing to the terms of an insurance policy creates a contract between the insured and the insurer in exchange for payments from the insured called PREMIUM. The insurer agrees t…