Minimum Premium

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Paul Taylor

24 June 2011 12:21

Hi Guys

How do I set a minimum premium, for each section (cover) within the quote?

So, for a household quote that includes the covers: Buildings, Contents and Buildings+Contents, I'd want separate minimum premiums for each of them.

Cheers

Paul

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  Paul Taylor 26 June 2011 10:29

  Hi Guys,

  Have you had chance to look at this question?

  Thanks

  Paul

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  Rob Symonds 27 June 2011 11:03

  Hi Paul,

  To set a minimum charge for a given question (cover) you can add this to your rate file:

  ###
  SetFee:QuestionToSetMinCharge
  IF([QuestionToSetMinCharge_Result] < MIN, MIN,[QuestionToSetMinCharge_Result])
  ###

  If you need any further clarification please ask.

  Thanks,

  Rob. 

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  Paul Taylor 27 June 2011 11:27

  Hi Rob,

  Thanks - but I need the minimum premium to be a minimum for a particular section (ie, cover). For example, in our household policy we have 3 possible sum-insured:

  Buildings Only

  Contents Only

  Buildings & Contents

  The user selects which type of policy they want. I need to be able to set a different minimum premium for each of the 3 covers.

  Cheers

  Paul

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  Rob Symonds 27 June 2011 11:43

  Hi,
  
  Fair enough, so, have I got this right?
  
  You want to conditionally set a minimum for a given cover based on the answer to another question?
  
  ###
  Answer:CoverRequired,SetFee:BuildingsOnly
  "Buildings","IF([BuildingsOnly_Result] < MIN, MIN,[BuildingsOnly_Result])"
  ###
  Answer:CoverRequired,SetFee:ContentsOnly
  "Contents","IF([ContentsOnly_Result] < MIN, MIN,[ContentsOnly_Result])"
  ###
  Answer:CoverRequired,SetFee:BuildingsAndContents
  "BandC","IF([BuildingsAndContents_Result] < MIN, MIN,[BuildingsAndContents_Result])"
  ###
  
  

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  Paul Taylor 27 June 2011 11:51

  Hi Rob,

  Yes, that looks like it'll work, thank you!

  Cheers

  Paul

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