Risk objects in mind map

A risk object captures information about the risks covered by a policy. The risk object can be a tangible object such as a car or a building. The risk object can be a location, which is special type of risk object. Or the risk object can be an intangible object such as a jurisdiction or the policy line. A risk object may or may not have attached coverages.

In the mind map, create risk objects by adding a risk object marker Guidewire Risk Object marker.. Use a clause category to attach coverages, exclusions, and conditions, if any, to the risk object.

In the visualized product, you can add one or more instances of a risk object to a policy. For example, you have a cell phone risk object in a mind map. In a policy transaction, you can add one or more cell phones to the policy.

Risk attributes

In the mind map, you create topics for each risk attribute, and attach these topics to the risk object. You can also group these topics under a common Risk Attribute Category topic. For example, add a Policy Attributes subtopic to the product line, add the Risk Attribute Category marker to the topic. Add subtopics for the risk attributes. Use data type markers to indicate the type of attribute.

The first text or drop-down list attribute on a risk object becomes the identifier. The identifier helps to identify one risk object from another in a list of risk objects.

Modeling locations on risk objects

A location risk object is a special type of risk object that is a location. In PolicyCenter, location risk objects automatically include a location field that cannot be removed. An example of a location risk object is the home in a homeowners policy.

In addition, a risk object that is not a location can have an associated location field. For example, as a vehicle risk object has an associated garage location. The garage is not a risk object.

In the XMind, you can model locations on risk objects in the following ways:
  1. The risk object is not a location but has a location field. Define the risk as a risk object Risk Object marker., and add a child location Location marker. For example, the vehicle garage.
  2. The location is the risk object. Define it as a location risk object Location Risk Object marker. For example, a home. In the visualized product, the location field is created automatically.
  3. The location is the risk object, but has multiple building risk objects Risk Object marker.. For example, an estate that has a main house, guest house, and pool house.
  4. The risk object is a location and has more than one location field. Define the risk object as a location risk object Location Risk Object marker, and add additional location fields. For example, a company’s corporate headquarters and their remote data center.
The following mind map shows how to model these:

Buildings

There are various ways to model buildings in the mind map.

In the home example, the location and the building are modeled as a single location risk object Location Risk Object marker.

In the estate example, the estate is a location risk object Location Risk Object marker, and has buildings child risk objects Risk Object marker..