Offerings in the product model

Some insurers offer variations of their policies by customer or how the sale is being made. Offerings let you define different product types for different types of buyers. You can use offerings for the following use cases:

  • Business-specific products – An insurer offers a business program that consists of a set of common coverages. The insurer offers specialized products based on this business program. These specialized products are offered to retailers, auto shops, and the hospitality industry, among others. These specialized products offer coverage levels appropriate for each business type.
  • Affinity groups – Some insurers write policies that are based on a group membership of the insured. These affinity group policies offer a subset of the available coverages, group-specific default values, and possibly group-specific value choices for the coverage terms. Often the policy is subject to a special rate agreement, and so must obey various restrictions on the coverages and terms offered.
  • Programs or tiers of coverages – These are similar in concept to the affinity group. The classic example is Bronze, Silver, and Gold programs. The customer can choose increasing levels of coverage at increasing cost. Programs can also offer different coverages.

An insurer may have hundreds of types of offerings. Insurers want to be able to create these offerings quickly, often based on a similar pre-existing product. PolicyCenter provides the tools to quickly and easily create offerings based on an existing product definition. You start with the base product definition, and then simply tailor it to define your specific offering.

If the product contains offerings, you can select an offering in the submission, issuance, policy change, renewal, and rewrite policy transactions.

Filtering the product model in availability

The selected offering is the last check in product model availability. If all other checks say that a coverage or other pattern is available, then the offering is the final check that can set it to unavailable. If the other checks say that the coverage is unavailable, then the offering cannot make it available.

Offerings can filter the following parts of the product model:

  • Policy terms
  • Policy lines in a package policy
  • Coverages
  • Exclusions
  • Conditions
  • Coverage terms
  • Coverage term options and packages
  • Modifiers
  • Question sets

Offering question sets

The Offerings screen allows you to choose an offering. The Offerings screen displays any question sets included on the product that have their type set to Offering Selection. Answers to questions on this screen can filter the offerings available from the Offering Selection drop-down menu.

See also

Select and change an offering

About this task

The following steps guide you through selecting an offering and changing the offering.

Note: The instructions assume that you are familiar with creating a submission. For complete instructions on how to create a submission, see Create a submission.

Procedure

  1. Create a submission for a Businessowners policy.
  2. Continue to the Offerings screen.
    The Silver and Platinum offerings are available if the questions have default answers and there are no other triggers filtering the selections.
  3. Select Yes to the question Is the customer a member of Partners Alliance? The Partners offering is added to Offering Selection drop-down menu.
  4. Select Partners from the Offering Selection drop-down menu.
  5. Click Next, and continue to the Businessowners Line screen. Because you selected the Partners offering, the Policywide Property Deductible is optional. This coverage is required if no offering is selected. Offerings can change what appears on this page, and on other pages in the wizard.
    You can go back and change the offering.
  6. Click Offerings in the left sidebar.
  7. From the Offerings Selection drop-down menu, choose <none>.
  8. Click Businessowners Line in the left side bar to return to that screen. Notice that the Policywide Property Deductible is now required (it cannot be deselected).