|
Post by Admin on Jan 9, 2019 16:12:49 GMT -8
Feel free to ask any questions, we will try to answer all of them. However, please be aware that some questions might not be answered.
Correction 1/10/2019: There is a minor error in the case question file. Part c of Task 1 (bottom of Page 1) should be corrected as follows:
Best of luck!
|
|
|
Post by Shawn on Jan 10, 2019 19:51:52 GMT -8
Hi, I have a question regarding the definition of rater. By rater do you mean a platform where customers can input information to obtain premium or rater is just a set of calculation logics for the premium? Thank you!
|
|
|
Post by Admin on Jan 10, 2019 20:38:51 GMT -8
Hi, I have a question regarding the definition of rater. By rater do you mean a platform where customers can input information to obtain premium or rater is just a set of calculation logics for the premium? Thank you! Your rater should be used to calculate the premium for the current term for the three given policies.
|
|
|
Post by Jun on Jan 11, 2019 15:09:45 GMT -8
Hi, in the "Factor Tables" tap in Excel, there is Advanced Shopping Discount that applies to new business only. What does it mean by "new business"?
|
|
|
Post by Admin on Jan 11, 2019 16:28:21 GMT -8
Hi, in the "Factor Tables" tap in Excel, there is Advanced Shopping Discount that applies to new business only. What does it mean by "new business"? The definition of new business in insurance should be reasonably simple to find by doing a simple internet search. For future reference, although we are glad to clarify anything that is unclear, we will not be answering any questions asking for definitions of unambiguous terms.
|
|
|
Post by Andrew on Jan 11, 2019 18:06:52 GMT -8
Hi, in the "Rating Steps" factor, do we have to calculate Coverage total as in the total amount of money the company covers for the driver, or is that another name for the total policy premium?
|
|
|
Post by Jordan on Jan 11, 2019 22:38:36 GMT -8
Hello, should the videotaped presentations in the deliverables be 10 minutes long, just like any other presentations?
|
|
|
Post by Admin on Jan 11, 2019 23:11:58 GMT -8
Hi, in the "Rating Steps" factor, do we have to calculate Coverage total as in the total amount of money the company covers for the driver, or is that another name for the total policy premium? The "Rating Steps" tab simply shows the steps for rating each policy. No work is necessary on this sheet. Hello, should the videotaped presentations in the deliverables be 10 minutes long, just like any other presentations? Yes, please limit your videotaped presentations to ten (10) minutes.
|
|
|
Post by Will on Jan 12, 2019 12:18:35 GMT -8
Hi, what does the "N" listed in the deductible row under the "Profile" tab represent? Does it mean that there are no deductibles? Thank you.
|
|
|
Post by Admin on Jan 12, 2019 13:08:54 GMT -8
Hi, what does the "N" listed in the deductible row under the "Profile" tab represent? Does it mean that there are no deductibles? Thank you. "N" indicates that the selected vehicle is not covered under that specific insurance coverage. Thus for Profile #1, Vehicle 2 does not have comprehensive or collision coverage.
|
|
|
Post by Alex on Jan 12, 2019 14:35:19 GMT -8
Hi,
Question regarding the excel worksheet. Is the driver age factor the same under each coverage?
|
|
|
Post by Admin on Jan 12, 2019 15:20:16 GMT -8
Hi, Question regarding the excel worksheet. Is the driver age factor the same under each coverage? Yes.
|
|
|
Post by Ying on Jan 12, 2019 18:18:14 GMT -8
Would we have to be present in the videos or is voice okay?
|
|
|
Post by alex on Jan 12, 2019 18:31:02 GMT -8
On the forum it mentions that we need to send a videotaped presentation with our deliverables. However we didn't receive an email or any information about this?
|
|
|
Post by Admin on Jan 12, 2019 22:06:44 GMT -8
Would we have to be present in the videos or is voice okay? You must submit videos with your presentation. On the forum it mentions that we need to send a videotaped presentation with our deliverables. However we didn't receive an email or any information about this? If you were not instructed by an officer to submit video recordings, you do not need to submit a videotaped presentation. This only applies to teams who cannot make it to the first round.
|
|
|
Post by Vesper on Jan 12, 2019 22:53:42 GMT -8
Hi, can we add new worksheets to the excel file to make our work clearer?
|
|
|
Post by Admin on Jan 12, 2019 23:49:14 GMT -8
Hi, can we add new worksheets to the excel file to make our work clearer? By all means, please add as many worksheets as you need to organize your work. We encourage you to do whatever you can to make it easier on your judges.
|
|
|
Post by Sam Zhou on Jan 13, 2019 1:25:15 GMT -8
Hi Question b) states that the rater should "display the rating factor for each rating step" Does this mean that we have to show the rating factor for( ex, increased limited factor,household composition.....new Car discount) or just the 3(Policy Level factor,Driver Level Factor,Vehicle level factor)
|
|
josh
New Member
Posts: 1
|
Post by josh on Jan 13, 2019 10:24:18 GMT -8
For Driver Assignment rater, should we select a single driver to be assigned to all the vehicles in the policy to calculate driver level factors?
|
|
|
Post by Admin on Jan 13, 2019 10:38:22 GMT -8
Hi Question b) states that the rater should "display the rating factor for each rating step" Does this mean that we have to show the rating factor for( ex, increased limited factor,household composition.....new Car discount) or just the 3(Policy Level factor,Driver Level Factor,Vehicle level factor) Please show all rating factors listed on the "Rating Steps" sheet. It will not be sufficient to only show policy level, driver level, and vehicle level. For Driver Assignment rater, should we select a single driver to be assigned to all the vehicles in the policy to calculate driver level factors? For the Driver Assignment rater, the primary driver for each vehicle is listed on the "Profile" tab. For instance, for Policy #1, the primary driver for Vehicle 1 is Driver 1, the primary driver for Vehicle 2 is Driver 2, and the primary driver for Vehicle 3 is Driver 1.
|
|