Parameters in rate routine steps

You can choose Parameters in both Instruction and Operand fields.

The parameters in the parameter set for the rate routine determine the parameters that you can access. The parameters provide access to objects on the policy, including rate modifiers on the policy line and coverages.

For both the Instruction and Operand fields, the current step filters the parameters.

For the Instruction field, you can choose parameters in the parameter set that are writable. If a parameter is writable, you can select its writable properties. In the Instruction field, you can select writable properties directly attached to the parameter. You can also select writable properties on subobjects of the parameter. In the sample data, the PADriverAssignmentParamSet has a DriverAssignmentInfo parameter which is a writable.

For the Operand field, the types of parameters subobjects and properties that you can access are:

  • Any type of property
  • Subobjects not accessed through an array or list

To access a subobject that does not meet this criteria, you can create a function or enhancement property.

Accessing rate modifiers in parameters

If the parameter set for a rate routine includes a parameter for the policy line, then you can access rate modifiers on the policy line. The rate modifier is usually multiplied with the prior expression.

In some cases, the rate modifier is zero-based, with zero indicating no modification to the rate. In the rate routine, add one to the value to avoid multiplying by zero and setting the rate to zero:

1 + rate_modifier

In other cases, the rate modifier value is calculated prior to rating and available on the policy line.

In the sample data, the CP Building Coverage Premium Algorithm rate routine contains examples of these two types of rate modifiers. For example, the rate routine adds the 1 to the CPScheduleCredits modifier. The rate routine does not, however, add 1 to the ProductModifierFactor modifier. Instead, the ProductModifierFactor modifier value is calculated in CommercialPropertyLineEnhancement.gsx in the gw.rating package.

Note: In the base configuration, the parameter sets in the small and large sample data sets include a policy line parameter, Policy Line. For more information, see Adding policy line rate modifiers to a parameter set.

Accessing coverages in parameters

You can access coverage terms, options, and packages in parameters if the parameter set for the rate routine contains a a parameter where both of the following are true:

  • The Type field specifies a coverage
  • The Coverage field specifies a coverage pattern

When accessing a coverage term, you can select its code, covterm, or value. (The Instruction type filters the selection. To see code, covterm, and value, set the Instruction to a new variable.) The code is the coverage term code. The covterm is the coverage term object. The value is the value of the coverage term.

In the sample data, the PIP NJ Basic Algorithm rate routine accesses coverage terms on the PIPNJCoverage parameter. This rate routine uses the parameter set named PIP NJ Parameter Set.