Rate tables store the data used to map inputs (data fields, other rate tables, or calculations) to outputs (a rate, factor, or anything else). By separating the data and calculations, administrators can make rating changes in a new version while touching only the rate tables. The calculations using rate table data can remain untouched.
To define a rate table, you need to select the rate table’s data sources. Each data source will add a new column to the rate table.
Note: The final column holds the values each row of the rate table should resolve to.
Example: The medicalExpenseFactorTable has an Option Selection field called medicalExpenseLimit, allowing users to choose between the three options in the first column. If a user selects 1000 during a quote, then this table will resolve to 0.0, but if they select 2000, then the table will resolve to 2.0.
Figure 1: Example medicalExpenseFactorTable.
Rate tables also support using multiple fields to resolve to a single value.
If a user selects the following options, the table will resolve to 1.0:
- Tier: Standard
- Territory: 2
If a user selects the following options, the table will resolve to 0.9:
- Tier: Preferred
- Territory: 3
Figure 2: Example tierToTerritoryTable.