In this assignment, I’m reusing the REELS assignment to check for STP or NON-STP. As per the REELS logic, if the data meets any knockout rule (such as sum assured being more than 15 lakh), we need to set the status as NON-STP, and the net premium will not be calculated.
However, in Alpha, the case only needs to be created when it becomes NON-STP. The net premium won’t be calculate from REELS automatically; instead, it must be calculated manually in Alpha based on the loading percentage (age, base premium, driver experience, etc.).
So, is there any other approach we can take to solve this issue?
I also have an idea in mind: we can calculate the net premium in REELS (whether it’s STP or NON-STP) and create the case only when the status is NON-STP. In that scenario, we wouldn’t need to calculate the net premium manually in Alpha, as we would already have the data from REELS.
Or add the net premium amount manually by the underwriter ??
I’d like some suggestions on which approach would be the best to choose.
If you have a calculate premium rule, you can re-use it to calculate the premium.
So after checking whether it’s STP or Non-STP, intergrate that rule after checking and calculate premium if stp rule is Non-STP.
So initially the preimum amount wont be calculated when the underwriter approved the amount will calculate using the calculate premium rule group.
I’m i right ? @Simphiwe
Ah, I see — for non-STP cases, since it’s a manual process, the underwriter will handle it.
You were correct — the underwriter will manually add the net premium, perform all the necessary underwriting tasks, and then either approve or decline the case.
Okey so it means the underwriter can add the net premium manually through his input box. For the assignment purpose do we need to calculations there or just let the underwriter to add a certain amount in the field?
You can decide that from your side, as long as the calculations are done by an Underwriter whether you have a page that does that, or an Underwriter does that on the side and just input the net premium amount in the field.