Modeling a Term Life insurance policy

The example describes the business pattern of the agreement, physical object, role player and assessment result in the Business Data Model (BDM).

Business scenario

Lisa recently purchased a term life insurance policy and made Gary the beneficiary of the policy. It was identified that Lisa has a preexisting condition of High Blood Pressure and as a consequence an exclusion was added as an endorsement to her policy.

The business requirement is to capture the key elements of the term life agreement.

Modeling the business scenario

This Business Data Model (BDM) example can help provide an understanding of how to model agreement, assessment result, physical object, role player and category in a conceptual model.

Before you begin

  • Review Modeling a Term Life insurance policy in the Atomic Warehouse Model.
  • To re-create this example, open BDM in your data modeling tool.
  • The example is also available under the Business Pattern sections, in the diagram Modeling a Term Life Insurance policy in the Business Examples package of BDM.

Example

The business pattern can be modeled by using entities that are found in the Agreement, Assessment result, Party, Physical object and Category packages of the Business Data Model as illustrated in the ERD example.
Figure 1. ERD example for modeling a Term Life Insurance policy, by using the Agreement, Assessment result, Party and Physical object and Category packages in the BDM
ERD example for modeling a term life insurance policy, by using the Agreement, Assessment result, Party and Physical object and Category packages in the BDM
Person
- an individual is represented in the model as a Person. In this case, the unique characteristics of Gary, for example birth date and gender, can be captured.
Role Player
- supports the capture of the common behavior of individuals and organizations in terms of roles and responsibilities. The role player is an important concept to help explain the relationship between a person and other entities within the model. In this case, it can help support to capture their ownership of physical objects such as houses or personal belongings.
Agreement
- the insurance policy for which the premium is collected.