Defining a Level Funded Pricing Rule for a Parent Customer

Prerequisites

To define a level funded pricing rule for a parent customer, you should have:

  • Pricing rule type where the category is set to Level Funded.

  • Price items associated with the level funded pricing rule type.

  • Specific stop-loss pricing rule of the parent customer, whose accumulation parameters you want to inherit for level funding.

Procedure

To define a level funded pricing rule for a parent customer:

  1. Search for a parent customer in the Customer 360° View screen.
  2. In the Search Results section, click the View (The View Icon) icon corresponding to the parent customer whose pricing details you want to view.
    The Person tab appears in the Customer 360° Information screen.
  3. Click the Pricing tab.
    The Pricing tab appears.
  4. Click the Add link in the upper-right corner of the Parent Customer Pricing Rules zone.

    The Pricing Rule screen appears. It contains the following fields:

    Field Name Field Description Mandatory (Yes or No)
    Person Name Indicates the parent customer for whom you want to create a level funded pricing rule type. Not applicable
    Person Type Indicates the type of the parent customer. The valid value is:

    • Parent Customer

    		Not applicable
    Pricing Rule Type Used to indicate the pricing rule type using which you want to create a level funded pricing rule. Yes
  5. Select the required pricing rule type in the respective field.
  6. Click OK.

    The Level Funded (LF) Pricing Rule screen appears. It contains the following sections:

    • Customer Information - Displays the information about the parent customer for whom you are defining the level funded pricing rule. It contains the following fields:

      Field Name Field Description
      Parent Customer Information Indicates the parent customer for whom you are defining the level funded pricing rule.
      Pricing Rule Type Indicates the pricing rule type using which you are defining the level funded pricing rule.

    • Main - Used to specify basic details in the level funding pricing rule.

    • Accumulation Parameters - Used to define the accumulation parameters in a level funded pricing rule.

    • Final Settlement Rules - Used to define the final settlement rules when the customer decides to renew or cancel the level-funded agreement.

    • Characteristics - Used to define the characteristics for the level funded pricing rule.

    Note:

    The Accumulation Parameters and Final Settlement Rules section appear when you specify a price item in the Main section.

    The Main section contains the following fields:

    Field Name Field Description Mandatory (Yes or No)
    Price Item Used to indicate the price item for which you want to define the level funded pricing rule. Yes
    Parent Customer's Pricing Rule Used to indicate the date range of each specific stop-loss pricing rule, defined for the parent customer.
    Note: On selecting the specific stop-loss pricing rule of the parent customer, the level funded Pricing Start Date and Pricing End Date field is set automatically.
    		 Yes
    Pricing Start Date Used to specify the date from when the level funded pricing rule is effective.
    Note: The pricing start date cannot be later than the pricing end date.
    		 Yes
    Pricing End Date Used to specify the date till when the level funded pricing rule is effective.
    Note: The pricing end date cannot be earlier than the pricing start date.
    		 No
    Rate Option Used to indicate the rate option that you want to use while defining the pricing for the price item. Yes
    Settlement Frequency Used to indicate the settlement frequency which helps to determine the bill after date. The valid values are:

    • Immediately - If you select this option from the list, the bill after date is not calculated. The level-funded settlement billable charge is billed immediately in the next bill cycle.

    • Manually (At Regular Intervals) - If you select this option from the list, the bill after date which is specified in the Manual Settlement Bill After Date parameter while executing the C1-BCLF batch is stamped on the level-funded settlement billable charge.

    • Monthly - If you select this option from the list, the bill after date is set to the last day of the month.

    • On Settlement - If you select this option from the list, the bill after date is set to the settlement date in the level-funded settlement billable charge.

    • Yearly - If you select this option from the list, the bill after date in the credit billable charge is set to the pricing end date in the level-funded settlement billable charge.

    		 Yes
    Underwriter Review Used to indicate whether the underwriter settlement review flag is on or off. The valid values are:

    • Yes

    • No

    Note: By default the value of this option type is set to Yes.
    		 No
  7. Enter the required details in the Main section.
  8. Define the accumulation parameters in the level funded pricing rule.
  9. Define the final settlement rules in the level funded pricing rule.
  10. Define characteristics for the level funded pricing rule, if required.
  11. Click Save.
    The level funded pricing rule is defined for the parent customer.

Related Topics

For more information on... See...
How to search for a parent customer Searching for a Person
Parent Customer Pricing Rules zone Parent Customer Pricing Rules
How to define the accumulation parameters in a level funded pricing rule Defining Accumulation Parameters in a Level Funded Pricing Rule
How to define the final settlement rules in a level funded pricing rule Defining the Final Settlement Rules in a Level Funded Pricing Rule
How to define the characteristics for a level funded pricing rule Defining a Characteristic for a Level Funded Pricing Rule