Parameter sets in Rating Management

Parameter sets contain one or more parameters which are accessible to Guidewire Rating Management. A parameter set can be specific to a policy line or available to all policy lines. The parameter set usually includes a policy line parameter which provides access other parts of the policy. You can also specify parameters for entities such as coverages or rating entities, such as rating information and rate date.

Rate routines

In a rate routine step, you can use parameters to access policy information, such whether the car has antilock brakes. Each rate routine specifies a parameter set. The rate routine can access the parameters for its calculations.

Rate table definition

In a rate table definition, you must specify a parameter set which contains the default sources of arguments for the rate table lookup parameters. The lookup parameters correspond to lookup columns in the rate table. On the Parameters tab, you define lookup parameters. On the Argument Sources tab you specify a default argument source for each lookup parameter. You specify values for the argument source by accessing parameters in the parameter set.

When you specify a rate table in a rate routine step, the default values of the lookup parameters are the default argument sources. You can change the argument source for each lookup parameter. If the rate table definition has multiple argument source sets, you can change the argument source set for this rate table lookup.

See also

Parameter set design

Parameter set definition and maintenance has an impact on multiple components of the rating solution. Consider this impact as you determine the parameter configuration.

Parameter sets provide the data interface between the rate flow and individual rate routines. In the base configuration, example parameter sets show three types of content.

Policy objects

Parameters can be policy objects such as policy line, vehicle, or coverage. Use policy objects to identify the object being rated when the policy may contain multiple objects of this type. The rate flow iterates over all vehicles and calls a routine per vehicle. The rate flow creates the parameter set and during the first iteration the vehicle parameter represents the first vehicle. During the following iteration, the vehicle parameter represents the second vehicle. Keep in mind that generic objects, like Coverage, do not provide access to specific values like limit amounts on a particular type of coverage.

Atomic values

Parameters can be atomic values such as PreviousTermAmount. These types of parameters are relative easy to define and use. However, atomic parameters may become difficult to manage if you define too many. Consider using data objects instead.

Data objects

Parameters can be data objects such as DriverAssignmentInfo through which you can access properties on the object. Data objects an be arbitrarily complex while keeping the parameter set simple. However, the parameter set list does not indicate what information is being passed in at first glance. The user has to look at the drop-down list to see the object’s properties.

Combine similar parameter sets with wrappers

You can use wrappers to accessing parameters in a line of business that are typed differently. For example, coverage has a generic version and is typed specifically for each coverage. With a wrapper for coverage, passing in a coverage to a rate routine enables access the coverage terms off the coverage. The wrapper calls code that selects a coverage based upon characteristic of the policy.

See also

Example with wrappers

In the base configuration, the CP Coverage Parameter Set With Wrapped Coverages parameter set uses a wrapper. The Coverage parameter uses the CPCoverageWrapper wrapper to select either the Business Personal Property Coverage or the Building Coverage. In Product Designer, you can view these coverages in the Commercial Property Line.

The CP Coverage Premium Algorithm rate routine uses the CP Coverage Parameter Set With Wrapped Coverages parameter set. In this rate routine, the basis is assigned the value of the coverage limit. The wrapper calculates the value of the limit based upon whether the coverage is Business Personal Property Coverage or Building Coverage.

Access parameter sets in Rating Management

About this task

In PolicyCenter, you can associate parameter sets with rate tables and rate routines. Parameter sets define the contextual information that is passed to rate routines. In rate tables, you specify the argument source for each parameter in the parameter set. This topic describes how to work with parameter sets in the PolicyCenter user interface.

Procedure

  1. In PolicyCenter, select Administration > Rating > Parameter Sets.
    PolicyCenter displays the Parameter Sets screen. By default, the screen displays the parameter sets for all lines.
  2. From the Policy Line drop-down list, select a policy line such as Personal Auto Line.
    PolicyCenter displays the parameter sets defined for the selected policy line.
  3. Select a parameter set to display its parameters in the Parameters tab.

Add parameter set in Rating Management

Procedure

  1. On the Parameter Sets screen, click Add.
    PolicyCenter adds a blank parameter set to the list of parameter sets.
  2. Enter values for Code and Name.
  3. Enter a value for Policy Line. Select <applies to all> if this parameter set can apply to all policy lines.

    When viewing a parameter set, Policy Line set to <applies to all> appears blank.

  4. Select Include Cost if the parameter set will be used in rate routines that calculate properties on the cost, such as the base rate, adjusted rate, and term amount.

Alter parameters in parameter set in Rating Management

About this task

You can add, edit, or remove parameters in a parameter set.

Procedure

  1. In PolicyCenter, navigate to Administration > Rating > Parameter Sets screen.
  2. Select a parameter set.
    PolicyCenter displays the parameters in that parameter set in the Parameters tab.
  3. In the Parameters tab, click Edit to edit the selected parameter set.

    The Edit button is disabled when a rate book with status other than Draft references the parameter set through an included rate table definition or rate routine.

  4. In the Parameters tab, click Add to add a parameter.
  5. Specify the following information for the parameter:

    Field

    Description

    Name

    Select a name from the drop-down list. The names are specified in Studio.

    Type

    A Gosu expression which describes the data type for this parameter When you insert the parameter, this value is set to the default type. You can override this value.

    Use Wrapper

    Select this option to use a wrapper that selects a coverage based on characteristics of the policy. See Combine similar parameter sets with wrappers.

    Wrapper/Coverage Code

    If the Type specifies an entity that is a coverage, then you can select a specific coverage in the policy line. For example, a parameter with Type set to entity.Coverage specifies an entity that is a coverage.

    If you selected Use Wrapper, then click the Search icon to select a coverage wrapper.

    Writable

    Select this field if the parameter’s properties can be overwritten. By default, the parameter is not writable. If a parameter is writable, you can select its properties in the Instruction field of a step.

    In some cases, you must override a parameter’s default Type. For example, the PolicyLine parameter has a default of entity.PolicyLine. When you include this parameter in a line-specific parameter set, override the default type with the type for that parameter set. For personal auto, set the parameter’s Type to entity.PersonalAutoLine.

    You can define a parameter that provides rate routine access to coverage terms, options, and packages in policy data. Define the parameter with the Type field specifying entity.Coverage, and the Coverage field specifying a coverage pattern code. For more information, see Parameters in rate routine steps.

  6. To edit a parameter, modify the parameter definition directly in the Parameters tab.

    You cannot edit a parameter if a rate table definition or rate routine step references that parameter.

  7. To delete a parameter, add a check mark in the first column of the parameter definition, then click Delete.

    You cannot delete a parameter if a rate table definition or rate routine step references that parameter.

  8. Click Update to save your work.

What to do next

See also

Adding policy line rate modifiers to a parameter set

Rate modifiers on the policy line are accessible through PolicyLine parameter. In the base configuration, the PolicyLine parameter default type is entity.PolicyLine. To make these rate modifiers accessible through the parameter set, you can add a parameter with the following values:

  • Name – PolicyLine
  • Type – entity.lobLine as a fully qualified object type. For example, enter entity.CommercialPropertyLine for the commercial property line.

See also