Rating is just one of the many uses of BindExpress Rating, and is also a great application for learning the tool.
The first step in BindExpress Rating modeling is to create a "catalog" of rating components, answering three questions:
1) What Objects are to be insured?
2) What Events are to be insured against?
3) What are the Benefits paid if the Event happens?
For example, a Personal Auto product might include an Automobile Object to be insured, Collision as one of the Events to be covered, and Insured Collision Payment as one of the Benefits to be paid if an Event happens.
Using a simple drag-and-drop procedure, modelers create a product tree, which logically describes how the components interrelate.
Powered by PROMOS