Premium Calculation
The Premium Calculation feature is used to obtain updated premium numbers throughout the lifecycle of a case, in response to changes in policy terms and insured data.
Premium Calculation Implementation
The Premium Calculation typically integrates with a carrier’s policy administration system or premium calculation engine. The Premium Calculation includes a standardized abstract implementation, data model, user interface, and workflow best practices, with the expectation that most carriers have proprietary web services to their premium calculation functions.
