Example Ratings for Specific Insurance Types (Life and Public Liability)

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These example ratings are provided for information purposes only. Each Scheme and Insurer will require a specific rating table based on your company's unique needs.

Example 1: Life Rating

Tip: You can enter multiple columns for each combination of question-answers you would like to rate on, so for example, on a life insurance scheme your first column might be "Answer:SmokerYesNo" and your second column "Answer:Age". This would allow you to create higher rates for smokers above a certain age.


Based on the information above the rating table would look something like this:


1.Answer:SmokerYesNoAnswer:AgeSetRate:SumAssured
2.Yes7220.0
3.No727.5
4.Yes222.5
5.No220.5


Example 2: Public Liability

In another example you might want to determine a Public Liability Indemnity Limit based on the level of cover required and you want to set different premiums for each, £2,000,000 limit £250 and £5,000,000 limit £500. In this case, the entry in the rating matrix would be structured as below;


1.Answer:PLCoverRequiredSetCover:PublicLiabilityIndLimit
2.2000000250
3.5000000500


See Also:

  1. Introduction to Rates in SchemeServe
  2. Uploading SchemeServe Rating Files
  3. Downloading SchemeServe Rating Files
  4. Flat Rating: Building Your First SchemeServe Rating File
  5. Rating Modifiers: What they are and when to use them
  6. Multi-Step Ratings: Using Multiple Sections in Rating Files
  7. Advanced Ratings: Using Formulae
  8. Advanced Ratings: Conditional Statements and Functions
  9. Advanced Ratings: Rounding Values
  10. Master Rating: Using Tables and Row Lookup Loops
  11. Example Ratings for Specific Insurance Types (Life and Public Liability)
  12. Conditions for Rating Files
  13. Actions for Rating Files
  14. Mathematical Helper Functions for Ratings Files
  15. Rating Agents: Tips and Tricks