Creating rate factors
When creating a new line of business, you must create rate factors. A rating input modifier consists of one or more rate factors. Rate factors are generally used in commercial lines of business. For demonstration purposes, you can add them to the Golf Cart line, which is a personal line of business.
Rate factors must be listed in the RateFactorType typelist before they can be added to a schedule rate. Therefore, the first step in creating a schedule rate modifier is to create the necessary rate factors in RateFactorType. Studio automatically handles new typecodes, so you can create a schedule rate modifier without restarting the server. However, because changes to typelists are considered data model changes, you must restart the PolicyCenter server before you can select the rate factor type in Product Designer.
You add modifiers in Product Designer by using the Modifiers page for products and policy lines. Product Designer adds a Rate Factors link under Go to on the Modifiers page if you do both of the following when adding a new modifier:
- Set the Data Type to rate.
- Select the Schedule Rate check box.
The following illustration shows the Golf Cart line with rate factor modifiers on GolfCartLine and GOCart. You must define a MatchableEffDated delegate on the modifier for rate factors. This delegate handles out-of-sequence events and preemption. (You defined MatchableEffDated delegates for the modifiers in Creating the modifier matcher.)
The following illustration shows GolfCartLine and its rate factor modifier
objects:
The following illustration shows GolfCart and its rate factor modifier
objects:
For an example of rate factors in the base configuration, see BOPRateFactor.eti in .