Tiers and resolution types

Tiers and resolution types allow you to provide explicit resolution instructions to rate table sources.

You can add Tiers to a rate table source to provide the rate table source with explicit instructions about the values to map for inputs.

Resolution types are the instructions for handling the values between the tiers you added to the rate table source.

Possible resolution types:

  • Do not give a value (all possible values must be provided): The user must provide a value that matches the value of one of the tiers.
  • Interpolate between the closest tiers: The rating engine takes the input value, figures out where it is between two tiers, and applies that same distance to the rate it resolves to.
  • Find the nearest greater tier: The rating engine takes the input value and rounds it up to find the nearest greater tier.
  • Find the nearest lower tier: The rating engine takes the input value and rounds it down to find the nearest lower tier.

Example:

A Vehicle Risk Type has a Mileage data field with a type of Number.

We create a rate table to map mileage to a base rate. Since mileage is a number input (and we can’t gather the possible options automatically), we need to add tiers to the rate table.

In the tiers, we type 0, 50000, and 100000. We also type values in the rate column so the table looks like Figure 1.


Figure 1: Example milageToBaseRateTable.

We add a resolution type to our mileage source to inform the rate table of how to handle the values between our tiers.

For the resolution type, if we select:

  • Do not give a value (all possible values must be provided), then the user will need to enter 0, 50000, or 100000 into the Mileage field. If they enter anything other than those three options, the rating engine will raise an error when attempting to resolve the rate table.
  • Find the nearest lower tier, then the rating engine will take the mileage input and round it down to find the nearest lower tier. If the user enters 25,000, then the rating engine rounds it down to 0, making the rate 100, but if the user enters 200,000, then the rating engine rounds it down to 100,000, making the rate 300.
  • Find the nearest greater tier, then the rating engine will take the mileage input and round it down to find the nearest greater tier.
  • Interpolate between the closest tiers, then the rating engine takes the input value, figures out where it is between two tiers, and applies that same distance to the rate it resolves to. If the user enters a mileage of 25,000, which is exactly between the 0 and 50,000 tiers, it will map to a rate of 150 (exactly between 100 and 200).

Add Tiers and resolution types

To add Tiers and resolution types:

  1. In the BriteCore menu, select Lines.
  2. In the Lines of Business list, select the applicable line of business.
  3. On the Line Overview screen, in the Products menu, navigate to and select the applicable product.
  4. On the Product Overview screen, in the Risk Types section, select the applicable risk type.
  5. On the risk type screen, select Rate Tables, and then, in the Rate Tables section, select the applicable rate table.
  6. In the Edit Rate Table section, under Sources, navigate to and select the applicable Number type source.
  7. In the source box, in the Tier 1 box, type the applicable value.

    Note: Repeat step 7 for each tier you need to add.

  8. In the What value should be given to numbers between tiers? dropdown list, select the applicable resolution type.
  9. In the bottom-left of the screen, select Save Rate Table.