Rating worksheets in Rating Management
For a quoted policy or policy transaction, the rating worksheet shows the actual values that the rate routine used to calculate the rate. For each rated object, the rating worksheet shows the following:
- Rate book code and edition
- Rate routine code and version
- Actual values used in the rate routine
Rating worksheets provide information for several different types of users or developers. You can use rating worksheets to debug rate routines. In submission policy transactions, underwriters can use rating worksheets to see how the policy is rated. The underwriter can decide whether to make an adjustment through a rating override or other mechanism. Auditors can use the information in rating worksheets to explain to a state regulator how a policy was rated. The auditor may need this information years after the policy rating occurred.
The following table shows the type of data a rating worksheet for a personal auto policy might contain:
Instruction |
Result |
Op |
( |
Operand |
) |
Operand value |
|
|---|---|---|---|---|---|---|---|
1 |
Liability - Bodily Injury and Property Damage |
||||||
2 |
pa_rtm_demo_rating (2) |
||||||
3 |
pa_cov_premium_rr (1) |
||||||
4 |
BaseRate |
172.000 |
← |
table:Base Rate |
(PALiabilityCov, CA, 91007) = 172 |
||
5 |
R |
.001 |
172.000 |
||||
6 |
vehicleTypeFactor |
10 |
← |
table:Vehicle Type Factor |
(CA, auto) = 10 |
||
7 |
vehicleCostFactor |
0.44 |
← |
table:Vehicle Cost Factor |
(1000.00, CA) = 0.440000 |
||
8 |
AdjustedRate |
258.825600 |
← |
BaseRate |
172.0000 |
||
9 |
x |
table:CoverageFactor |
(PALiabilityCov, PALiability, 250/500/100, CA) = 3.800000 |
||||
10 |
... |
||||||
In row 1, the coverage being rated is Liability - Bodily Injury and Property
Damage.
In row 2, The rate book code is pa_rtm_demo_rating edition 2.
In row 3, the rate routine is pa_cov_premium_rr version 1.
In rows 4 through 9, the Result and Operand Value columns show the actual values used by the rate routine.
See also
Extracting and purging rating worksheets
Every time a user generates a rating worksheet, a copy of that rating worksheet gets stored in the PolicyCenter database. To improve PolicyCenter performance, PolicyCenter provides processes for extracting rating worksheet data and removing rating worksheets from the database. This is not an end user feature and is only accessible through Server Tools.
The Extract Rating Worksheets batch process extracts the rating worksheet data to files and marks worksheets for purging.
The Purge Rating Worksheets batch process removes worksheet container objects that are marked for purging and older than a specified number of days (90 days in the base configuration). In the base configuration, you must enable this batch process.
See also