Pricing in mind map

In the mind map, you can model the following pricing relationships.

Note: Pricing in the mind map is informational only; it is not imported into the visualized product.

Modeling pricing to basis

In the mind map, you can add a Pricing marker to a topic, and add a relationship between the Pricing topic and its basis.

For example, a Cell Phone risk object has a Loss of Phone coverage with a Phone Premium pricing topic. The basis of Phone Premium is Price when new. Price when new is a monetary amount topic under Phone Details.

When you import a mind map, Pricing markers and their relationships are dropped. You can use the pricing relationships from the mind map as a guide to adding pricing information to the APD App product.

Modeling exposure pricing

With exposure pricing, exposure to risk provides the basis for rating. For example, the cost of Phone Damages coverage is a based on household members of various age ranges.

In the mind map, define an exposure and exposure fields. In this example, the Cell Phone risk object has a Household Exposure with Household Members drop-down list. Household members can be Children, Teens, or Adults. The exposure also has a Number by Age Range number topic where you can specify the number of household members in a particular age range.

The Phone Damages coverage has a Premium pricing topic that will be based upon Number by Age Range. When you import the mind map, pricing topics and their relationships are dropped. You recreate this relationship in the APD App product.