Parameters, Coefficients
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Parameters
Insurance Company Product / Calculation Settings / Parameters
In the Insurance Company Product Parameters report, parameters are defined.
For each parameter, you need to specify:
Table No. (Table No.)
The user selects the table that contains the data to be evaluated for the parameter
Field No. (Field No.)
The user selects a table field with the appropriate data
Specific Value (Specific Value)
A specific value is used to select the security with the highest coefficient. In this special case, the user does not enter the table and fields
In the case of vehicle security, this is a specific value – in this case, the system will only apply the device with the highest coefficient.
The user enters the coefficient values for all devices recognized by the insurance company. The system will apply only one device – with the highest discount.
Status (Status)
The parameter is applied by the system only if it is in the active state. Parameters are automatically transferred to lower levels – framework agreement, set, and rate. If, for example, the user does not want to apply a discount/surcharge coefficient to a specific rate, it is sufficient to switch the status to Inactive at that rate.
Order (Order No.)
If there are more parameters on the insurance company's product, the user determines their order. This is important if the intermediate result needs to be rounded
Parameter Type (Parameter Type)
The user selects a value, based on the type of field being searched for
Numeric (numeric value), example Vehicle age for calculation (M) = number (25)
Text (text string), example Object Usage Type for Insurance = Text (TAXI)
Logical (check mark), select field YES / NO
Parameter rounding method (Parameter Rounding Method)
For each parameter, the user enters the appropriate coefficients.
Field:
Valid From (Valid From)
The option to enter a valid from date if it is not specified applies without limitation
Valid To (Valid To)
The option to enter a validity date until, if not specified, applies without limitation
From Value (From Value)
Required if parameter type = numeric, it is necessary to enter the lower limit for the evaluation of the coefficient
To Value (To Value)
Required if parameter type = numeric, it is necessary to specify the upper limit for the evaluation of the coefficient.
E.g. the field "Vehicle age for calculation (R)" - the system calculates the field from the financed object – from the date of commissioning or year of manufacture and the beginning of the insurance contract's validity. The calculated age of the car does not change over time. It is calculated when entering the insurance policy. The intervals for the respective coefficients are specified in years
Text Value (Text Value)
If, for example, there is a relation to the Insurance Object Classification code list in the field "Object Usage Type for Insurance". Over the same session, the user then selects the code in the text value and enters the appropriate coefficient.
This way of entering a text value is only possible if the selected parameter contains a relation.
Boolean (Logic Value)
In the case of a Boolean parameter, the field takes the values Yes / No. E.g. the "used financed object" field.
The user specifies the coefficient for the Boolean value (YES, NO). It is possible to enter only one value that needs to be evaluated.
Coefficient (Coefficient)
The discount or surcharge coefficient is entered.
Parameter change
The system copies the entered parameters from the insurance company's product to lower levels. If it is necessary to disable the use of parameters at some level, just change the state of the parameter to Inactive at that level.
If the user makes a change in the specified parameters, he can make the change at the top level and by using the Write Change to lower levels. Attention – in lower levels it will write the change (if it is linked to a higher level), but if the parameter did not exist, then it will be copied by the change It won't! (the user would have to cancel the parameter at the top level, and Re-establish and write the foundation to a lower level of the foundation parameter.)
When changing the coefficients or intervals for coefficients, it is necessary to copy the change on the parameter to lower levels:
Validity of parameters
If a parametric rate is already applied to an insurance contract, its parameters cannot be changed. However, it is possible to end the coefficient on a specific date and add coefficients for the following periods:
On the insurance policy, the system then evaluates the parameter according to the beginning of the insurance contract's validity.
The user must not interfere with parameter bindings. Automatic transcription would then stop working. The parameter can be disabled by changing the status to Inactive.