Import Export Rates

OIPA is enhanced to import a set of rates via a specifically designed Excel workbook. AsRate and AsRateGroup tables gets updated with new rates on importing rates. Excel workbook may be created from an export of a set of rates. The exported workbook is formatted in the same specific design as needed for import. Rates can be imported to create a new group or to update an existing rate group.

  1. Import rates to create a new rate group: A set of exported rates can be imported to create a new rate group. The workbook provides all the information to create a new rate group and attach set of rates to the rate group.
  2. Import rates to update rate group: An existing rate group can be updated with new rates for a different effective date. In this case rate description between existing group and new group are the same.

Import of rates where the rate description already exists will result in the below scenarios:

  1. A new set of rates re-price or correct an existing set of rates without full replacement of the existing rates. Existing rates continue to be accessed for the life of the policies that were issued during the time the existing rates were effective. A new set of rates are accessed for policies that were issued during the time the new rates are effective.
  2. A new set of rates correct an existing set of rates as a full replacement of the existing rates. Policy activities and actions which used the old rates will access the new rates. Existing processed activities needs manual reprocessing to access corrected rates.

The below two columns of AsRateGroup indicates the format in which the rates are imported:

  • Table format : This column is added to AsRateGroup to contain the value that indicates the format in which the rate was imported and expresses the format for export. This column should not be blank and the code value should match to AsCodeRateFormat.
  • Secondary index: A column is added to AsRateGroup to contain the name of the criteria that is the secondary index. This column must be null (blank) when the table format is Aggregate. This column must be the descriptive business name associated to one of the criteria columns when the table format is Select or Ultimate.