Calculation Spec
A calculation specification represents the calculations that can be performed on insurance agreements sold for the modelled product and on requests raised against such agreements.
General tab
The General tab contains all the main information about a calculation spec:
Name:
- The name of a calculation spec should include a reference to the focal object for which the calculation is performed, and should be suffixed by the name of the kind of the calculation.
- For example; a death coverage premium calculation is a calculation of kind premium calculation which calculates the premium for the product component death coverage.
Object Type:
- The object type should be set to Calculation Spec from the pull down list.
Documentation:
- The definition should give a description of the calculation in plain business language.
- A formal description of the calculation can be added to the definition using the formula notation. The formula can use short labels to identify the parameters that are used in the calculation. See Relationship tab for more details.
- The formula notation needs to be contained between square brackets and can use short labels to identify the parameters that are used in the calculation. Short labels can then be used in a mapping using the label field to point to those property specs and constant specs in the Product Model that provide the values for the parameter. To establish this, the short labels from the formula expression are repeated in the label field in the mapping.
Other elements from the General tab:
- The default for abstract is no and visibility is public and these should not be modified. Calculation specs do not have a super-type and the package structure is not used in the IPS deliverables (but could be used in projects to add additional structure).
Stereotypes tab
The keyword must be used to classify the calculation spec by its kind. Some of the allowed keywords are:
- premium calculation
- benefit calculation
- surrender calculation
- initialisation calculation
- commission calculation
- tax calculation
- profit share calculation
- reserve calculation
- loan balance calculation
Attributes tab
Property specs and constant specs are not used for a calculation spec.
Relationships tab
You can browse existing or create new associations between the calculation spec and other types in the Product Model (product).
When using the formula notation in the documentation, you can use short labels to identify the parameters that are used in the calculation. A Dependency mapping may be used to navigate to the property specifications and constant specifications that specify the inputs for the parameters.
These labels can be used in a Dependency mapping with Navigation to prefix in the name. Double clicking the link brings to those property specs and constant specs in the Product Model that provide the values for the parameter.
Mapping to other models
- Mapping to the Analysis Process Model
- The calculation specs can be mapped to the Analysis Process Model using URL mapping with refine type and APM Mapping : prefix in the name.
This mapping points to the business process or global task that would actually execute the calculation that is defined by the calculation spec.
The mapping of calculation specs to business processes or global tasks is optional. It is meant to show where the actual calculation is executed, however, one should notice that all calculation specs of the same kind will be calculated in the same business process or global task. The result is that it is sufficient to determine the execution of the calculation per calculation kind, held in the stereotype, instead of per individual calculation spec.
Assigned to Terms tab
The role specs can be mapped to the Scopes from the Insurance Business Glossary in Information Governance Catalog (IGC).