Products and product lines

A product is an insurance product, such as personal auto or commercial package, that an insurance company offers for sale to its customers. A product sale results in a policy. A product line, sometimes referred to as line, is contained in a product. Multiline products contain one or more product lines.

Mind map

In XMind, you map the product structure into a tree-like diagram where the root of the tree is either a product or a product line. Add a Product

or Line

marker to the topic.

Visualized product

In PolicyCenter, you can view and modify the product on the Product Definition screen. Information about the product line is on the Details tab.

Product fields on Product Definition screen

These are the fields in the Product section of the Product Definition screen.

Field	Description
Name	Name for the new product.
Description	Description of the product.
Identifier	A unique identifier for the new product. For example, `SmBus` for a Small Business product. See Labels on product and product line.
Abbreviation	Define a unique, 3-character abbreviated code for the new product. If this is a single line product, then PolicyCenter uses this code for the Line Prefix in Product Line. See Labels on product and product line.
Multiline	Does this product contain more that one product line? If No, you can define the product line’s policy details in the Product Line section below. If Yes, you define the product line details within the product.
Locations List in Wizard	Can this product insure more than one location? If Yes, then include a screen for defining multiple locations. A Locations step appears on the left, at the same level as Policy Info in a submission.
Coinsured	Does coinsurance apply to this product? If Yes, you can define coinsurance details in the product.
Currencies	Specify currency in the product. Values are: Domestic - Policies are single currency and use the currency defined in config.xml. Single - A policy will be in a chosen currency. However, any number of currencies can be defined in the system. Multiple original - The policy is multi-currency. Premiums and sums insured can be defined in any number of currencies. There is a single settlement currency into which all amounts a converted for billing (this cannot be the main policy currency). Multiple settlement and original currencies - – Original currencies as above, but may bill in a number of settlement currencies (typically based on the countries of risk). PolicyCenter must be configured to support this.
Account Type	Specify the type of account that can take out policies for this product: Any – Both companies and people Company Person This affects which product are listed for a new submission.
Enabled for REST API	If there are both visualized product artifacts and finalized product artifacts, this field identifies which set of artifacts will be referenced by the system APIs. For more information, see the Configuration Guide.

Product line Details tab

When creating a new product line or editing an existing product line, you can edit and add line details in the Details tab of the Product Definition screen.

Name	Name for the new product line.
Description	Description of the product line.
Line Prefix	A unique 3-character code for the product line. See Labels on product and product line.
Identifier	A unique identifier for the new product line. For example, use SmBus for a Small Business product line. See Labels on product and product line.
Currencies	Specify currency in the product. Values are: Domestic - Policies are single currency and use the currency defined in PolicyCenter. Single - Policies will be in a chosen currency. However, any number of currencies can be defined in the system. Multiple original - Policies are multicurrency. Premiums and sums insured can be defined in any number of currencies. There is a single settlement currency into which all amounts are converted for billing. (The settlement currency cannot be the main policy currency.) Multiple settlement and original currencies - – Multiple original currencies as above, but may bill in a number of settlement currencies (typically based on the countries of risk). PolicyCenter must be configured to support this.
Product Line Type	Defines the coverage types as well as where those coverages apply (policy or risk object covering single or multiple risks, for example) that will be available for the defined product line. For all choices except Liability Only – Single Risk, the Has Child Risks field appears.
Has Child Risks	Does the line have only a single risk, or does the line have other risks, modeled as child risk objects? If Yes, define the Children’s UI Label.
Children’s UI Label	Appears if you answer Yes to Has Child Risks. Enter a label for the screen that contains the risks. This screen contains tabs for Coverages, Additional Coverages, and Exclusions and Conditions. For example, `Equipment`.
Multiple Exposure For Insureds' Risk	Can more than one exposure can be defined for each risk? If Yes, define the UI Label for the exposures. If No, a risk is always associated with a single exposure.
Exposure's UI Label	Appears if you answer Yes to Multiple Exposure For Insureds' Risk. Enter a label for the exposures.
Menu Label for Generated UI (*PD)	Define the Product Name label that appears on the New Submissions screen when you are creating a new policy. After you generate the product, the product uses this label. It appears as the label in the job wizard and policy file step. It does not appear in the visualized product.
PolicyLine Subtype, excluding prefix (*PD)	The name of the entity generated for this product line. The entity is a subtype of PolicyLine. This field appears if you are in Developer mode.

Fields tab

Describes the Fields tab in Product Definition screens.

Note: Fields required for product generation are marked (*PD).

Field	Description
Label	Label that appears in the user interface.
Type	The type of data, such as text, number, monetary amount, or date-time. Involved party creates a contact field on the policy. Contact details include name, phone number, address, and other information. When viewing the Contacts for the policy, these contacts have the Involved Party role. The Involved Party marker in a mind map becomes an involved party contact.
Identifier	The identifier helps to identify one risk object from another in a list of risk objects. The Risk Details screen in a policy transaction lists the risks on the policy. In the list of risk objects (Risk Name), the identifier appears after name of the risk object. For example, on Pet risk objects, the Pet Name text field is the identifier. In a policy with pets named Fido and Peony, Risk Name shows the two risks: Pet: Fido Pet: Peony Identifier fields directly on a policy line do not appear in a policy transaction.
Jurisdiction	The jurisdiction for location fields on child risk objects. If you select this, then the risk object become a location risk object. Does not appear on product line fields because the product line cannot be a location risk object.
Ordering	The order of the items in the user interface, from first to last.
Field Usage	How the product uses the field. Field values can be: Derived – Value is derived programmatically, and is read-only in the user interface. In the generated product, create code in Guidewire Studio that derives the value. Hidden – Value is stored in the database but is not displayed to the user. Unavailable – The field is not available and cannot be added to the policy. User Entered – Value is entered by the user. User Entered: Required for Bind – Value is entered by the user and is required to bind the policy. Has no effect in a visualized submission. User Entered: Required for Issue – Value is entered by the user and is required for issuance. Has no effect in a visualized submission. User Entered: Required for Quote – Value is entered by the user and is required at quote. Has no effect in a visualized submission.
Default Value	Default value for the field.
Minimum Value	Minimum value for the field.
Maximum Value	Maximum value for the field.
Description (*PD)	Description of the field. This field is required for product generation and displays if Product Design Mode is Developer.
Short Name (*PD)	This field is required for product generation and displays if Product Design Mode is Developer. Unique name that identifies the field in the generated product. This name must be unique in the product line.
Category	This field is not used. Do not enter a value.
Split By Rating Periods	This field can have split rating periods. Split rating periods create separate rating periods for dates selected by the user.
Scalable	Whether to use basis-scalable rating. When selected, the basis is scaled automatically before and after the split date. You can also manually scale the basis by editing the field values. This field is enabled if you select Split By Rating Periods, and Type is Number, Decimal (14,2), or Monetary amount.