Quoting Template formulas

When defining a Quoting Template rule’s trigger(s) and action(s), there are times you will need to add formulas.

Formulas are comprised of functions, inputs, and operators.

Functions

A function defines the type of formula you are writing.

There are three types of functions:

  • Compare
  • And
  • Or

Inputs

Inputs are fields, variables, and options you can add into formulas.

Note: Inputs are pulled from the lines setup.

Table 1 shows the currently available inputs.

Table 1: Input values.

Operators

Rule formulas use logical operators to evaluate values. Table 2 shows the six types of operators you can use in your formulas.

Table 2: Formula operators.

Formula example

Rule setup:

  • Scope:
    • Risk
    • Vehicle
    • Any Vehicle
  • Rule runs on:
    • Policy Page – Page Submit
    • Driver Form – Inline Change
    • Driver Form – Submit
  • Transaction types:
    • New Business
    • Endorsement
    • Renewal
    • Re-write
    • Cancellation

For the When conditions, we will use the There is a risk in the current scope tool to add a formula with the following conditions:

  • The medical expense is equal to $10000.
  • The make of the vehicle isn’t a Ford.

To add the formula:

  1. On the rule’s screen, on the Rule Editor tab, under When, select Add a line.
  2. In the Select a tool dropdown list, select There is a risk in the current scope.
  3. Under Filter Scope Vehicle, select the Filter box, and then select And.

Note: The scope’s risk type automatically applies to the Filter Scope. In this case, our scope’s risk type is Vehicle.

  1. Between the parentheses, select condition 1, and then select Compare.

Note: When you select Input, a list of options appears. To the right of each option, you can see the option’s field type.

  1. Between the parentheses, select Input, and then select Medical Expense.
  2. Select operator, and then select ==.

Note: When you create a compare function, if you you use the Option Field type for the first input, you will see the chosen Field Option selections as suggestions for the second input.

  1. Select Input, and then type 10000, and then select “10000” Number.

Note: When adding a dollar amount in a formula, don’t use a dollar sign ($) or commas.

  1. Select condition 2, and then select Compare.
  2. In between the parentheses, select Input, and then select Make.
  3. Select operator, and then select !=.
  4. Select Input, and then type Ford, and then select “Ford” Text.
Figure 1: Rule formula.

When this rule is triggered, it will run the following conditions against each vehicle:

  • The medical expense is equal to $10000.
  • The make of the vehicle isn’t a Ford.

In the Then section, you will create the actions that will happen if:

  • The medical expense for each vehicle is equal to $10000.
  • The vehicle make isn’t a Ford.

In the Otherwise section, you will create the actions that will happen if:

  • The medical expense for each vehicle isn’t equal to $10000.
  • The vehicle make is a Ford.