Homeowners rater
This is a general insurance (GI) / property and casualty (P&C) model that calculates the premium for homeowner insurance.
Sample file
Inputs
01_Year_Built
Year the house is built.
02_Building_limit
Building sum insured.
03_Coverage_type
Coverage type such as Deluxe house/deluxe contents, Deluxe house/standard contents, and Deluxe house without contents or with fire contents.
04_Territory
Defines the territory number.
05_Base_deductible_factor
Base deductible amount.
06_Burglar_alarm
Whether the house has burglar alarms. The input is used to determine discounts and surcharges.
07_Lien_free
Whether the house is lien free. The input is used to determine discounts and surcharges.
08_Security_protection
Whether the house has security protection. The input is used to determine discounts and surcharges.
09_Renovation_or_Construction_surcharge
Whether the house has renovation or construction surcharge. The input is used to determine discounts and surcharges.
Outputs
Premium_WindHail
Premium for wind or hail peril.
Premium_Wildfire
Premium for wildfire peril.
Premium_AllOther
Premium for all other perils.
Premium_Adjusted
Sum of premium due to wind or hail, wildfire, and all other perils.
Premium_Adjustments
Dollar adjustments for the final premium.
Premium_Total
Final premium reflecting all dollar adjustments.
Refer
0/1 output that indicates whether a referral to an underwriter is required. This happens when the sum insured exceeds the threshold and needs to be reviewed by an underwriter.
V1
Version identifier of the rating calculation.
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