Introducing the WAND Life Insurance Taxonomy
If you are familiar with our Taxonomy Library Portal, you might have seen our WAND Insurance Taxonomy. It is a good, broad, overall taxonomy covering the Insurance Industry. Yet, partially as a result of the Affordable Care Act and the massive changes to Health Insurance, we decided that it was time to expand portions of the original taxonomy into standalone, area specific, taxonomies. Along with the new Health Insurance Taxonomy, we will soon release the WAND Property and Casualty Insurance Taxonomy. If you are currently using the WAND Insurance Taxonomy, don't worry. It will continue to be a taxonomy that we will provide to our clients. The first of the new expanded taxonomies to be released is the WAND Life Insurance Taxonomy.
The WAND Life Insurance Taxonomy covers all areas of Life Insurance. Higher level terms include Fraud, Products, Reporting and Disclosure Requirements, Terms and Provisions, and Underwriting. It also includes topics such as Binder Agreements, Clauses, Benefits, Riders, and Policy Options.
It is well suited for any insurance company that provides Life Insurance options to their clients.
Watch for our soon-to-be released WAND Property and Casualty Insurance Taxonomy. It will complement the WAND Life Insurance Taxonomy, and as with all WAND Taxonomies, it is available by itself or as part of the WAND Taxonomy Library Portal.