Most of the life insurance companies we worked for used one of a handful of life insurance administration systems. Most of them started using number of months since January, 1900 for internal date storage. But since birthdates on policies sometime produced 1900 all of the systems carried it as mmddyy, so that date was checked against the…
Most of the life insurance companies we worked for used one of a handful of life insurance administration systems. Most of them started using number of months since January, 1900 for internal date storage. But since birthdates on policies sometime produced 1900 all of the systems carried it as mmddyy, so that date was checked against the age at issue of the insured to determine the century. Otherwise, it was what you said and really wasn't that difficult to fix the systems.
A much larger project of expanding all of the financial values had recently been done in all of these systems because they were written when almost no one had a life insurance policy with a face amount greater than $9,999,999.99.
Most of the life insurance companies we worked for used one of a handful of life insurance administration systems. Most of them started using number of months since January, 1900 for internal date storage. But since birthdates on policies sometime produced 1900 all of the systems carried it as mmddyy, so that date was checked against the age at issue of the insured to determine the century. Otherwise, it was what you said and really wasn't that difficult to fix the systems.
A much larger project of expanding all of the financial values had recently been done in all of these systems because they were written when almost no one had a life insurance policy with a face amount greater than $9,999,999.99.