Rate tables in Rating Management
In Guidewire Rating Management, rate tables contain one or more rows with columns for parameter values. These columns are followed by the associated return factor value or values, if the rate table has multiple factors. Rate tables can optionally be associated with a particular policy line. You can also create generic rate tables that can apply to all policy lines.
In PolicyCenter, your rate table implementations may be significantly different from the legacy environments and exported format. If necessary, plan on implementing a conversion between the Rating Management import/export format and the format managed by business users.
Rate table overview
Parameter values can be of any data type. In the base configuration, values can be string, integer, decimal number, Boolean, and date. Factor values have the same data type. You can use decimal or integer values for numeric factor and rate. You can use strings for class definitions, tiers, and identifiers.
The following illustration shows a rate table with one factor.
In the illustration, the numbered items represent:
- Parameter values for the Min (>=), Max (<=), and Jurisdiction parameters.
- Factor value – The return value if the row matches.
- Row – Provides parameter values and one or more rate factors.
If the policy data matches parameter values in a row, PolicyCenter returns the factor value.