IBM 32-0776 RAMAC For Fire and Casualty Company free download

File name 32-0776_RAMAC_For_Fire_and_Casualty_Company.pdf

IBM 305 RAMAC - the newest concept in data processing for Fire and Casualty Insurance companies. This booklet describes the technique of "In-Line Processing" in the daily flow of premium and loss transactions and related entries in the areas of: Premium and Loss Entry Controls Annual Insurance Departments statements Management Reports Premium Rating and Renewal Policy document writing Agents f Accounts Current Checking. 1 FEA TURES OF THE IBM 305 RAMAC FOR THE FffiE and CASUALTY COMPANY Large Scale Memory RAMAC, with its 50 or 100 magnetic disks, is capable of storing 5 ,000,000 or 10 ,000,000 alphabetic and numerical characters. This large memory can be used effectively in many ways. For instance, the daily premium and loss transactions, without any sorting, will update cumulative totals for many separate reports, such as State, Agents', and/or Producers' records, and premiums in force totals by line and class. Complete Data Processing System RAMAC is a self-contained, single-unit data processing system containing its own input and output devices. Its stored program and vast memory enal?le companies to furnish Management operating and statistical reports and figures, available in seconds, and as up-to-date as the last transaction received. The stored program enables RAMAC to execute, automatically, an entire series of machine instructions. It converts company and association codes to RAMAC address automatically for applicable record updating. This means that premium, loss, and other accounting transactions can be handled with a minimum of human intervention. Interrogation RAMAC may be interrogated when reference to specific information stored within its vast memory is required or requested. This feature is similar in concept to going to a file, selecting a record, extracting the desired information from the record, and then refiling the record. Interrogation, in the case of RAMAC, however, is accomplished while the machine is performing other operations, without dis- rupting processing for more than the fraction of a second required to select the desired record. The information as called for is automatically typed out. This feature of RAMAC is of particular importance to Management, as the many requests for up-to-the-minute figures can be rapidly fulfilled through interrogation. Input and Output RAMAC uses the company's regular 80-column punched cards as input. RAMAC output may be a printed document from the 370 Printer, punched cards from the 323 Punch, or a combination of both. Punched card output lends itself to organization and preparation of documents on conventional IB