How To Create And Manage Rate-On-Line Profiles In Supercede
The rate-on-line profile allows you to calculate the rate-on-line value for insurance policies by dividing the premium by the limit for each policy.
1. Accessing Rate-On-Line Profile
Open the Supercede Homepage and click on the Packs widget to access your Pack List.
Select the pack you would like to create a Limit Profile for and select Policy Bordereau.
Select Rate-On-Line Profile from the menu on the left.
2. Selecting Subsection
Across the top of the profile, select the subsections you would like to view data for.
Select Apply to confirm selection.
See here for more information on the subsection selection.
3. Setting Profile Bandings
To set up a rate-on-line profile for the first time, you will need to set the profile bandings. The bandings are set in percentages. Start typing values into the Profile Bands and the profile will configure automatically underneath. Before the initial set-up, no profiles will display. Decimals are not supported.
4. Limit Base, Premium Base and Metric
Once the bandings are set, you can decide which type of limit and premium is used for the calculation of the rate-on-line value, as well as the profile basis. Use the grey drop downs underneath the bandings to make changes. The applicable values need to be populated during the data import, otherwise they will display null values.
Limit
The limit can be displayed on an aggregate or on an occurrence basis:
- Gross aggregate
- Net aggregate
- Gross occurrence
- Net occurrence
- Gross written
- Net written
- Gross earned
- Net earned
Profile Basis
There are different options available for viewing and analysing your data, these are:
- Policy Count
- Gross Written Premium
- Net Written Premium
- Total Limit
- Average Limit
5. Cedent's Share
Supercede allows you to display your limit profile as 100% of the line size or as your share of the risk, which is known as the cedent’s share. You can toggle between the two options by clicking the Cedent's share box. The values in the profile will update automatically.
The net limit is not affected by line size, as net deductions are specific to each insurer.
6. Applying Stacks
For stacked policies, calculate the rate-on-line using the total stacked limits and the total premiums for the stack, i.e. the limits and premiums found on the stacked policies page.
See here how to work with the stacks detector.
7. Viewing Underlying Policy Data
Clicking on values with a dotted border will allow you to see all of the underlying policy data that is aggregated within each banding.
Use the scroll bar at the bottom to shift to the right of the table and navigate through the pages by clicking on the page number or the arrows.
Go back to the limit profile by clicking the Back to Rate on Profile in the upper lefthand corner.