Manual pricing
PolicyCenter supports the ability to manually enter rates for coverages and risk objects. When you install a product in PolicyCenter that has Manual Pricing enabled, PolicyCenter generates LOB-specific endpoints that you can use to configure the rate for each coverage and other costs. In this case, PolicyCenter does not use any existing rating engine to rate the product costs. For more information, see Application Guide.
You can manually set the rate for the following types of costs on coverages
(coverage costs) and risk objects (other costs):
- Coverages with a term pricing basis
- A coverage associated with a policy line or coverable. You can add manual pricing for this type of coverage as a coverage cost item.
- Coverage with a coverable pricing basis
- A coverage on the policy line associated with a policy line field or coverable field. You can add manual pricing for this type of coverage as a coverage cost or an other cost item.
- Coverage with exposure pricing basis
- A coverage on the policy line associated with a policy line exposure field or coverable exposure field. You can add manual pricing for this type of coverage as a coverage cost item. When you add this type of manual cost there is a separate step to set the pricing exposure rate.
See the following topics for more information on working with manual cost pricing: