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Minimum Premium

Paul Taylor
asked this on June 24, 2011 13:21

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

Hi Guys,

Have you had chance to look at this question?

Thanks

Paul

June 26, 2011 11:29
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Rob Symonds
ADM Network Ltd
Ajax_loader_small Answer

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. 

June 27, 2011 12:03
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Paul Taylor

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

June 27, 2011 12:27
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Rob Symonds
ADM Network Ltd
Ajax_loader_small Answer 
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])"
###

June 27, 2011 12:43
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Paul Taylor

Hi Rob,

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

Cheers

Paul

June 27, 2011 12:51
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