Performing Calculations

This comprehensive guide covers everything you need to know about performing insurance premium calculations using the tiger Rating Engine.

Understanding the Calculator

Calculator Interface Overview

Screenshot Placeholder: Full calculator interface showing three main sections - Product Selection bar at top, Input Fields panel on left (60% width), and Results/Actions panel on right (40% width)

The calculator consists of three main sections:

1. Product Selection Bar: Choose insurance product and effective date

2. Input Panel: Enter rating factors and coverage options

3. Results Panel: View calculated premiums and actions

Product Selection

Screenshot Placeholder: Product selection bar showing dropdown with products, effective date picker with calendar, and “Load Defaults” button

Selecting a product:

1. Product Dropdown: Shows active products with descriptions

2. Effective Date: Determines which rates/formulas to use

3. Load Defaults: Pre-fills common values for the product

Note

The effective date is crucial - it determines which version of rates, tables, and formulas the system uses for calculation.

Input Fields Management

Screenshot Placeholder: Input panel showing collapsible sections - Basic Information (expanded), Property Details (expanded), Liability Coverage (collapsed), Optional Coverages (collapsed)

Input fields are organized into logical sections:

• Basic Information: Policy dates, references

• Property Details: Building values, classifications

• Liability Coverage: Limits and options

• Optional Coverages: Additional protections

Field Types and Validation

Screenshot Placeholder: Various field types - text input with validation error, dropdown selection, number input with min/max, date picker, checkbox, with red asterisks for required fields

Different field types:

Field Types and Input Methods

Type	Input Method	Validation
Text	Free text entry	Pattern matching, length limits
Number	Numeric input with formatting	Min/max values, decimal places
Dropdown	Select from list	Predefined options only
Date	Calendar picker	Date ranges, business days
Currency	Formatted number input	Positive values, limits
Boolean	Checkbox or toggle	Required selections

Step-by-Step Calculation Process

Step 1: Prepare Your Information

Before starting, gather:

Required Information Checklist:
☐ Policy effective date
☐ Business/property location (ZIP or territory code)
☐ Property values (building, contents, equipment)
☐ Business classification or type
☐ Desired coverage limits
☐ Deductible preference
☐ Any special conditions or endorsements

Step 2: Select Product and Date

Screenshot Placeholder: Product dropdown showing “BOP - Business Owners Policy” selected, effective date showing “01/15/2025” with calendar widget open

1. Choose the appropriate product

2. Set the effective date (policy start date)

3. System loads product configuration

Step 3: Enter Location Information

Screenshot Placeholder: Location section showing Territory dropdown with “001 - Downtown Metro” selected, ZIP code field with “10001”, and a map widget showing the location

Location determines base rates:

• Territory Code: Primary rating territory

• ZIP Code: For detailed rating

• Address: Complete property address

Tip

Some products auto-populate territory based on ZIP code.

Step 4: Enter Property Values

Screenshot Placeholder: Property section with Building Value: $750,000, Contents: $150,000, Equipment: $50,000, showing running total of $950,000

Enter all applicable values:

• Building Value: Replacement cost of structure

• Contents Value: Business personal property

• Equipment: Specialized machinery/equipment

• Improvements: Tenant improvements

Warning

Ensure values represent replacement cost, not market value or original purchase price.

Step 5: Select Coverage Options

Screenshot Placeholder: Coverage grid showing checkboxes and limit dropdowns for General Liability ($1M selected), Property ($950,000 auto-filled), Business Income ($100,000 selected), etc.

Configure coverage limits:

1. Property Coverage: Usually matches property values

2. Liability Limits: Per occurrence and aggregate

3. Business Income: Lost income protection

4. Additional Coverages: Crime, equipment breakdown, etc.

Step 6: Choose Deductibles

Screenshot Placeholder: Deductible section with dropdown showing options $500, $1,000 (selected), $2,500, $5,000, and premium impact indicator showing “-$150 annual savings”

Select deductibles:

• Property Deductible: Per-claim out-of-pocket

• Impact Display: Shows premium difference

• Recommendations: Based on business type

Step 7: Review and Calculate

Screenshot Placeholder: Summary panel showing all entered values in a clean format with “Calculate Premium” button prominently displayed

Before calculating:

1. Review all entered values

2. Check for validation warnings

3. Verify effective date

4. Click Calculate Premium

Step 8: Understanding Results

Screenshot Placeholder: Results showing Total Annual Premium $4,250, payment options (Annual, Semi-Annual, Quarterly, Monthly), coverage breakdown pie chart, and action buttons

Results include:

• Total Premium: Annual and payment options

• Coverage Breakdown: Individual coverage costs

• Payment Plans: With any fees

• Actions: Save, print, email, modify

Advanced Calculation Features

Using Templates

Screenshot Placeholder: Template library showing saved templates like “Standard Office”, “Retail Store”, “Restaurant” with description and “Use Template” buttons

Save time with templates:

1. Create Template: Save common input combinations

2. Template Library: Access saved templates

3. Share Templates: With team members

4. Quick Start: Load template then modify as needed

Bulk Modifications

Screenshot Placeholder: Modification panel allowing percentage changes to multiple values at once, with preview of impacts

Adjust multiple factors:

• Percentage Changes: Apply across all values

• Scenario Testing: Compare different options

• What-If Analysis: See impact of changes

Multi-Location Rating

Screenshot Placeholder: Multi-location interface with table showing Location 1, 2, 3 with individual values and aggregate total at bottom

For multiple locations:

1. Add Location: Click “+” to add locations

2. Enter Details: For each location

3. Calculate All: Single calculation for all

4. View Breakdown: Per-location and total

Working with Special Cases

New Business vs. Renewal

Screenshot Placeholder: Toggle switch between “New Business” and “Renewal” with different fields appearing based on selection

Different requirements:

New Business: * No prior policy number * May have new business credits * Requires full underwriting info

Renewal: * Prior policy number required * Shows premium change * May have renewal credits

Endorsement Calculations

Screenshot Placeholder: Endorsement selection panel with checkboxes for various endorsements and their premium impacts shown

Adding endorsements:

1. Select base coverage first

2. Choose applicable endorsements

3. Configure endorsement limits

4. View total impact on premium

Short-Term Policies

Screenshot Placeholder: Policy term selector showing “6 months” selected with pro-rata calculation and short-rate penalty options

For policies less than one year:

• Pro-Rata: Straight proportion of annual

• Short-Rate: Includes penalty for short term

• Minimum Premium: May apply

Understanding Calculation Details

Viewing Calculation Steps

Screenshot Placeholder: Expandable tree showing each calculation step with formula, inputs, calculation, and result

Access detailed steps:

Calculation Flow:
├── Step 1: Base Rate Lookup
│   ├── Table: BASE_RATES
│   ├── Input: Territory=001, Class=OFFICE
│   └── Result: $0.45 per $100
├── Step 2: Building Rate Calculation
│   ├── Formula: base_rate * (building_value / 100)
│   ├── Input: 0.45 * (750000 / 100)
│   └── Result: $3,375.00
├── Step 3: Territory Modifier
│   ├── Table: TERRITORY_FACTORS
│   ├── Input: Territory=001
│   └── Result: 1.15
└── Step 4: Final Premium
    ├── Formula: building_premium * territory_factor
    ├── Input: 3375 * 1.15
    └── Result: $3,881.25

Formula Explanations

Screenshot Placeholder: Formula details panel with syntax highlighting, variable definitions, and example calculations

Understanding formulas:

• Expression Type: Python expression, table lookup, or factor multiply

• Variables Used: Hover for definitions

• Execution Order: Sequential processing

• Dependencies: Which formulas must run first

Table Lookups

Screenshot Placeholder: Interactive table showing the lookup process with highlighted row and column intersection

How table lookups work:

1. Dimensions: Factors used for lookup

2. Matching: Exact or interpolated

3. Result: Value at intersection

4. Fallback: Default if no match

Error Handling

Validation Errors

Screenshot Placeholder: Form with red highlighted fields and error messages below each invalid field

Common validation errors:

Calculation Errors

Screenshot Placeholder: Error panel showing “Calculation Error: No rates found for effective date” with troubleshooting steps

If calculation fails:

1. Check Error Message: Specific issue identified

2. Review Inputs: Verify all values correct

3. Check Effective Date: Ensure rates exist

4. Contact Support: If error persists

Warning Messages

Screenshot Placeholder: Yellow warning banner “Coverage limit exceeds typical range for this business type” with “Proceed Anyway” and “Adjust” buttons

Warnings indicate:

• Unusual values that may be correct

• Recommendations for better coverage

• Potential issues to review

Optimizing Your Workflow

Keyboard Navigation

Speed up data entry:

Calculator Keyboard Shortcuts

Key	Action
Tab Shift+Tab Enter Ctrl+Enter Esc Ctrl+S Ctrl+D	Next field Previous field Submit/Calculate (from last field) Calculate from any field Cancel/Clear current field Save as draft Duplicate last calculation

Quick Actions Menu

Screenshot Placeholder: Right-click context menu showing options like “Copy Value”, “Paste”, “Clear Field”, “Set to Default”, “View Help”

Right-click on fields for:

• Copy/Paste values

• Clear field

• Set to default

• View field help

• Add to favorites

Calculation History

Screenshot Placeholder: Sidebar showing last 5 calculations with mini preview and “Load” buttons

Quick access to recent work:

• Last 10 calculations

• Click to reload inputs

• Pin frequently used

Best Practices

Data Entry Tips

1. Use Tab Key: Move between fields efficiently

2. Check Tooltips: Hover for field guidance

3. Save Drafts: For complex calculations

4. Verify Totals: Review before submitting

5. Use Templates: For similar risks

Quality Checks

Before finalizing:

Quality Checklist:
☐ Effective date correct
☐ All values in correct units (thousands vs actual)
☐ Territory/location verified
☐ Classification accurate
☐ Coverage limits appropriate
☐ Deductibles confirmed with client
☐ Special conditions noted

Documentation

For each calculation:

• Add reference number

• Include notes for special circumstances

• Document any overrides or exceptions

• Save for compliance/audit

Next Steps

• Configure Products: Product Configuration

• Real-World Example: Real-World Scenario: Restaurant BOP Rating

• API Integration: API Integration

• Troubleshooting: Troubleshooting

Tip

Master the calculator with practice quotes before working on actual client submissions. Use the test environment if available.