Governed enterprise definitions

ai::alignment

Alignment

When humans, systems and AI agents all resolve shared terms to the same governed meaning.

ai::semantic_drift

Semantic Drift

When the same term acquires different meanings across systems, teams or AI agents.

claims::adjuster

Adjuster

Claim investigator and valuator.

claims::adjusting

Adjusting

claims::claim-backbone

Claim

Initial demand for indemnification under the terms of an insurance contract.

claims::claim-deductible

Deductible

Insured's portion of the loss cost.

claims::claim-notification

Claim Notification

Formal notice of loss

claims::claim-request-for-indemnity

Claim

The fundamental triggering event of the claims lifecycle.

claims::claim-settlement

Settlement

Finalization of claim liability.

claims::claim-subrogation

Subrogation

Recovery from responsible third parties.

claims::claims-adjuster

Adjuster

Claims handling professional.

claims::claims-reserving

Claims Reserving

Future liability estimation

claims::claims-reserving-liability

Claims Reserving Liability

Financial provision for outstanding loss obligations.

claims::claims-settlement-reserve

Claims Settlement Reserve

Financial provision for outstanding loss obligations.

claims::deductible-obligation

Deductible

Portion of an insured loss to be borne by the insured.

claims::ibnr

Incurred But Not Reported

claims::insurance-claim

Claim

Request for payment under policy terms.

claims::insurance-loss

Loss

Basis for a claim amount.

claims::loss

Loss

Basis for a claim amount.

claims::loss-event-valuation

Loss

The quantifiable decrease in value forming the basis of a claim.

claims::proof-of-loss

Proof of Loss

Evidence for claim validation.

claims::proof-of-loss-attestation

Proof of Loss Attestation

The evidential trigger for claim adjudication.

claims::settlement

Settlement

Finalization of claim liability.

claims::subrogation-process

Subrogation

Legal substitution of the insurer for the insured in cases of third-party liability.

claims::subrogation-recovery-right

Subrogation

Post-payment recovery process from liable third parties.

claims::unfair-claims-practice

Unfair Claims Settlement Practice

Regulatory boundary for claim handling conduct.

conduct::complaint-handling

Complaint Handling

Dispute resolution workflow.

conduct::conflict-of-interest

Conflict of Interest

Adverse interest identification.

conduct::contract

Contract

conduct::disclosure-requirements

Disclosure Requirements

Mandatory information transparency.

conduct::duty-of-disclosure

Duty of Disclosure

conduct::fair-treatment

Fair Treatment

conduct::fair-treatment-of-customers

Fair Treatment of Customers

TCF - Treating Customers Fairly.

conduct::fiduciary-duty

Fiduciary Duty

Legal duty of loyalty.

conduct::market-conduct

Market Conduct

conduct::mis-selling

Mis-selling

conduct::moral-hazard

Moral Hazard

conduct::suitability

Suitability

Product-needs alignment.

conduct::vulnerability-disclosure

Conduct-driven Disclosure

Risk transparency standards.

conduct::vulnerable-customers

Vulnerable Customers

Heightened duty of care for sensitive groups.

contract::contract-of-insurance

Contract of Insurance

Binding legal agreement for risk transfer.

contract::contractual-liability

Contractual Liability

Liability via agreement.

contract::coverage

Coverage

Scope of protection.

contract::insurable-interest-standard

Insurable Interest

Mandatory legal nexus for contract validity.

contract::insurance-contract

Insurance Contract

Legal agreement structure

contract::insurance-coverage

Coverage

Scope of protection.

contract::insurance-policy

Insurance Policy

The primary insurance contract document.

contract::insurance-policy-contract

Insurance Policy Contract

The foundational legal instrument of the insurance relationship.

contract::insured

Insured

Entity covered by the policy.

contract::insured-party

Insured

Subject of the insurance protection.

contract::limit-of-liability

Limit of Liability

Maximum exposure cap

contract::policy-endorsement

Endorsement

Contractual modification.

contract::policy-exclusion

Exclusion

Carve-outs from coverage.

contract::policy-holder

Policyholder

Legal owner of the insurance contract.

contract::policy-premium

Premium

Price of the insurance contract.

contract::policyholder

Policyholder

Owner of the insurance contract.

contract::reinsurance-treaty

Reinsurance Treaty

Insurer-to-insurer risk transfer document.

enterprise::system_of_record

System of Record

The authoritative source against which all other systems reconcile.

governance::actuarial-report

Actuarial Report

governance::compliance-framework

Compliance Framework

System for regulatory adherence.

governance::compliance-function

Compliance Function

governance::conduct-risk

Conduct Risk

Risk arising from firm behavior.

governance::corporate-governance

Corporate Governance

Organization oversight structure.

governance::definition_control

Definition Control

The discipline of governing which definition of a term is authoritative across the enterprise.

governance::fit-and-proper

Fit and Proper

Management suitability standard.

governance::internal-audit

Internal Audit

governance::internal-control

Internal Control

Methods of operational oversight.

governance::internal-control-system

Internal Control System

Internal oversight mechanism

governance::outsourcing-governance

Outsourcing Governance

Third-party risk management.

governance::outsourcing-risk

Outsourcing Risk

Third-party service risk

governance::risk

Risk

Subject of the insurance contract.

governance::risk_appetite

Risk Appetite

The amount and type of risk an organisation is willing to take to achieve its objectives.

governance::risk-appetite

Risk Appetite

Strategic limit on risk-taking.

governance::risk-mitigation

Risk Mitigation

Loss control

governance::solvency

Solvency

Financial viability measure.

governance::solvency-ratio

Solvency Ratio

Financial stability indicator.

insurance::actuary

Actuary

insurance::beneficiary

Beneficiary

insurance::claim

Claim

A formal request by a policyholder to the insurer for payment under the terms of an in-force policy.

insurance::deductible

Deductible

insurance::embedded-insurance

Embedded Insurance

insurance::endorsement

Endorsement

insurance::exclusion

Exclusion

insurance::high-risk-transaction

High-Risk Transaction

insurance::indemnity

Indemnity

insurance::insured-event

Insured Event

insurance::liability

Liability

insurance::loss-ratio

Loss Ratio

insurance::policy

Policy

The binding contract between insurer and policyholder that specifies coverage, premium and obligations over a defined term.

insurance::premium

Premium

insurance::reinsurance

Reinsurance

insurance::risk-assessment

Risk Assessment

insurance::subrogation

Subrogation

insurance::total-loss

Total Loss

insurance::underwriting

Underwriting

The process of assessing, pricing and accepting a risk against defined criteria before binding a policy.

insurance::vulnerable-customer

Vulnerable Customer

insurance::waiting-period

Waiting Period

reinsurance::cedant

Cedant

The risk transferor.

reinsurance::ceding-commission

Ceding Commission

Reinsurance expense reimbursement.

reinsurance::ceding-company

Ceding Company

reinsurance::excess-of-loss

Excess of Loss

Protection against high-severity losses.

reinsurance::facultative-reinsurance

Facultative Reinsurance

Asset-specific reinsurance.

reinsurance::proportional-reinsurance

Proportional Reinsurance

Percentage-based risk sharing

reinsurance::quota-share-reinsurance

Quota Share Reinsurance

Fixed percentage sharing of risk.

reinsurance::reinsurance-recoverables

Reinsurance Recoverables

Assets due from reinsurers.

reinsurance::retrocession

Retrocession

Secondary reinsurance.

reinsurance::risk-retention

Risk Retention

reinsurance::stop-loss-reinsurance

Stop Loss Reinsurance

Aggregate loss protection.

reinsurance::treaty-reinsurance

Treaty Reinsurance

Portfolio-wide reinsurance agreement.

solvency::best-estimate

Best Estimate

solvency::best-estimate-liability

Best Estimate Liability

Valuation central estimate.

solvency::capital-adequacy

Capital Adequacy

solvency::insurance-margin

Insurance Margin

Risk buffer over best estimate.

solvency::minimum-capital-requirement

Minimum Capital Requirement (MCR)

Absolute minimum capital threshold.

solvency::own-funds

Own Funds

Base capital surplus.

solvency::own-risk-and-solvency-assessment

ORSA

solvency::premium-deficiency

Premium Deficiency

Liability for loss-making policies

solvency::proportionality-principle

Proportionality Principle

Scaling regulation to firm size and risk profile.

solvency::reserving

Reserving

solvency::solvency-capital-requirement

Solvency Capital Requirement (SCR)

Value-at-risk of basic own funds.

solvency::solvency-margin

Solvency Margin

solvency::surplus-note

Surplus Note

solvency::technical-provisions

Technical Provisions

Liabilities for insurance contracts.

solvency::total-balance-sheet-approach

Total Balance Sheet Approach

Holistic solvency view

solvency::unearned-premium-reserve

Unearned Premium Reserve

Deferred revenue liability