The insurance component in the Dynamics 365 financial services accelerator expands Common Data Model and Microsoft Power Platform for the insurance industry. The insurance component includes data entities and attributes which span property, casualty, and life insurance, for both producer and agency management use cases.

The insurance component includes prebuilt solutions, applications, and dashboards for producers and agents to experience and for optimizing agency operations. The insurance component integrates seamlessly with the Dynamics 365 Sales application to deliver differentiated policyholder experiences, including business processes such as quoting, issuing, and renewing policies, servicing claims, and recommending insurance products. Additionally, the insurance component can be used alongside the banking component in the financial services accelerator for scenarios and use cases where banking data might be useful.

Currently, in preview, the goal of this release is to validate the insurance data model and ensure it addresses the use cases for Dynamics 365 customers and partners. The preview of the insurance component includes these features:

• The new insurance data model in the Common Data Model spanning the insurance customer, producer, and agency.
• An Insurance application addressing areas such as policy management, claims, customer 360, and customer onboarding.
• Dashboards with summary information on policies, claims, and upcoming appointments.
• Test Drive experience through AppSourcewith walk-through and sample data.

Sitemap extensions
With the insurance component, insurance companies, intermediaries, brokers, agents, and agencies can optimize the customer experience, improve productivity, and gain insights. When you install the component, the environment is transformed into one specifically built for insurance and one that allows customers and partners to quickly build Power Apps, customize Dynamics 365, and build Power BI dashboards for the insurance industry. The insurance data model is developed in collaboration with customers, partners, industry experts, and open initiatives to ensure interoperability.

Entities and workflows
The insurance component provides nearly 30 new entities to support the needs of insurance customers and partners, spanning both producer and agency management scenarios:

The insurance data model provides several new entities for the Common Data Model, including the following entities to support the needs of insurance customers and partners offering insurance solutions. With Power Apps and Power Platform, you can tailor the data model and application to meet your requirements.

Customer 360 screenshot

Agency Dashboard screenshot

Insurance Policy Form

How to access the preview?

The insurance data model was developed in collaboration with customers, partners, and industry experts to ensure interoperability. We’re using the preview period to continue to innovate and welcome your collaboration. Please fill out the Common Data Model Engage form and we’ll provide you with access to the preview.

Source: https://cloudblogs.microsoft.com/

Global iTS is a leading Microsoft Dynamics 365 ERP and CRM Partner with offices all over GCC (Bahrain, Saudi Arabia KSA, Oman “Muscat”, UAE “Dubai”, and Kuwait), with domain expertise in Financial Services Sector Digital Transformation like” Retail Banking, Commercial Banking, Insurance Providers, Private Equity, and Investment Banking.