Create rate table with multiple rate factors

About this task

In this topic, you add two additional rate factors to a copy of the Base Rate rate table.

Procedure

  1. In PolicyCenter, select Administration > Rating > Rate Table Definitions.
  2. On the Rate Table Definitions screen, select Commercial Property Line from the Policy Line drop-down list and click Search.
  3. In the Search Results, click Base Rate to view the rate table.
  4. Click the Factors tab.

    This table has one factor named Base Rate.

  5. Click Copy to create a copy of this rate table and enter the following on the Basics tab of the new rate table:

    Field

    Value

    Code

    BASE_RATE_MULTIPLE_FACTORS

    Name

    Base Rate with Multiple Factors
  6. On the Factors tab, add a decimal factor with the following values on the Factor Details tab:

    Field

    Value

    Additional information

    Data Type

    Decimal

    Decimal Places

    3

    The number of decimal places the user can enter in the rate factor row. This field only appears for the Decimal data type.

    Priority

    10

    Column Code

    Integer Factor

    Column Label

    Integer Factor

    Display Type

    Normal

    Physical Column

    Select a column such as dec1 (15, 7)

    This decimal value has a precision of 15, and a scale of 7. The decimal value can have 15 digits, including 7 decimal places.
  7. On the Factors tab, add a Boolean factor with the following values on the Factor Details tab:

    Field

    Value

    Data Type

    Boolean

    Priority

    20

    Column Code

    Boolean Factor

    Column Label

    Boolean Factor

    Display Type

    Normal

    Physical Column

    bit1

  8. Click Update to save your changes.

What to do next

For instructions on using the multiple factor rate table in a rate routine, see Using the multiple factor rate table in a rate routine.