Rate table with multiple factors

A rate table that returns multiple factors returns more than one factor with each table lookup. You can use a multiple factor rate table if you have parameter values associated with more than one factor.

For example, in a building factor rate table, the class code determines the minimum premium and risk factors. The rate table has a Class Code parameter, and a Minimum Premium and Risk factor.

If a rate routine uses this rate table, the routine does a single table lookup on the Class Code to access to both the Minimum Premium and Risk factors. The routine can access each factor separately in the rate routine steps.

You can use a multiple factor rate table to improve performance and maintainability if you have two or more large rate tables with identical parameters. In personal auto, for example, you have a rate table with make, model, year, and jurisdiction parameters. A multiple factor rate table can store a factor for each coverage. To add the coverage factors for a 2013 Toyota Camry, you add one row to the table for each jurisdiction. Your rate routine can fetch all factors in a single query, and access each factor separately in later steps.

In some cases, you may choose to combine rate tables with similar parameters into a multiple factor rate table. Consider whether maintaining this rate table is more difficult than maintaining a multiple factor rate table formed from two rate tables with identical parameters.