Is there a way to use IF New Business or IF Renewal in the Matrix

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Jon Collis

09 July 2013 08:09

Is there a way to use the status of the policy within the matrix? I have different rules/rates for new business compared to a renewal so with an MTA I need to know if it should follow the New Business rules or the Renewal rules.

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  Natalie Williams 09 July 2013 11:03

  Hi Jon

  The new multiple rating matrix does exactly this, you can have a separate matrix for new business, MTAs and renewals.

  We have used this for a few schemes and it is pretty good.

  Hope that helps.

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  Jon Collis 09 July 2013 11:19

  Hi Natalie,

   

  I'm using that but the new business and renewals have different claims loadings, so the problem I have it when there is an MTA on a renewal it would get a different loading to an MTA on a New Business. I think I need an IF in the matrix so the MTA rating can decide to use the NB or the Renewal loadings.

   

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  Chris 10 July 2013 14:14

  Hi there,

  I've been informed that currently there is no way to differentiate between a New Business, Renewals and MTA's in the rating matrix.

  Kind regards,
  Chris

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  Natalie Williams 11 July 2013 11:40

  Hi Chris

  Just thinking out loud... is it also not possible to check the original policy inception date?  If that is possible you could check that IF the original inception (first premium) date is greater than 1 year then treat the case as a renewal ?  I dare say you thought of this but worth double checking.

   

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