Homeowners Rater

The service is a General Insurance (GI) / Property and Casualty (P&C) model that calculates the premium for homeowner insurance.

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Homeowners Rater.xlsx

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Homeowner Rater

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 discount and surcharges.

• 07_Lien_free Whether the house is lien free. The input is used to determine discount and surcharges.

• 08_Security_protection Wwhether the house has security protection. The input is used to determine discount and surcharges.

• 09_Renovation_or_Construction_surcharge Whether the house has renovation or construction surcharge. The input is used to determine discount 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 assured for certain type of risk exceeds the threshold and therefore needs to be reviewed by an underwriter.

• V1 Documents the product version.