Oracle® Insurance Rules Palette 10.1.2.0 E59346-01

Point In Time Valuation Prototype

Point In Time valuation allows users to control how valuation is calculated during transaction processing. This prototype demonstrates how Point In Time valuation can be configured. There are two business rules used: PointInTimeValuation and WriteValuationElements.    

At the plan level, the PointInTimeValuation business rule is configured to indicate whether the beginning of the activity saves valuation records and the condition upon which the end of the activity saves valuation records. This rule also directs the display of a beginning valuation area on the Activity Results screen of an activity. If needed, the beginning valuation can be set to No and the ending valuation can be set to only save when there is a monetary change in any fund.   

The WriteValuationElements business rule has the ability to write to the database extra data associated to the valuation. Configuration is divided into four sections: Policy, Fund, Deposit, and PolicyValues. In these sections, a set list of elements are the only elements that can be written. The one exception to this is the Policy Values section, which can be configured to access any variables from the PolicyValues business rule. CopyBooks may be used in this rule.   

Scenarios

Two scenarios can be created to demonstrate this functionality.  

• User adds an activity to a policy that applies money to a fixed fund and performs valuation.

• User adds an activity to a policy that values the policy, but does not add money.

Configuration Requirements

On the AsPlan table the PointInTimeValuation column must be set to a value of Y(or T if the plan is transitioning from Traditional valuation) in order to use the PointInTimeValuation business rule. The additional configuration required includes: 

• PointInTimeValuation business rule

• WriteValuationElements business rule

• transactions to demonstrate functionality

If a plan is being converted from Traditional to Point-in-Time valuation, the setting for the PointInTimeValuation column of AsPlan depends on the specific type of conversion. For details, see Point in Time Conversion.

Prior to configuring Point-in-Time valuation, ensure that basic fund valuation is already fully working in your environment. Funds, allocations, and assignments must already be setup and configured before attempting to enable Point-in-Time valuation.  

Prototype Samples

Two transactions have been configured to demonstrate the enhancements to the system.

• IntRateCalcMoneyIn transaction: This transaction allows the user to apply money to variable or fixed funds and perform valuation. Slight changes can be made to the plan level overrides of the PointInTimeValuation business rule to limit the amount of valuation data being saved to the database. Navigate through the following folders in the Main Explorer to locate the configuration sample: Companies | Prototype Company | Subsidiary Companies | Prototype Child Company | Plans | Functional Prototype Plan | Transactions | Policy Transactions | IntRateCalcMoneyIn.     

• IntRateCalcValuation transaction: This transaction does not apply any money, but does value the policy. Navigate through the following folders in the Main Explorer to locate the configuration sample: Companies | Prototype Company | Subsidiary Companies | Prototype Child Company | Plans | Functional Prototype Plan | Transactions | Policy Transactions | IntRateCalcValuation.   

PointInTime Transactions in Main Explorer

Two business rules have been configured to demonstrate the enhancements to the system.

• PointInTimeValuation: This rule is configured as a plan level override and indicates when and which valuation records are saved to the database. In addition, the rule directs the display of a beginning valuation area in the Valuation tab of Activity Results. Navigate through the following folders in the Global Rules Explorer to locate the configuration sample: Business Rules | System | PointinTimeValuation | Plan Overrides.    

PointInTimeValuation Business Rule in Global Rules Explorer

• WriteValuationElements:  This rule can write additional valuation data to the database. Navigate through the following folders in the Global Rules Explorer to locate the configuration sample: Business Rules | System | WriteValuationElements | Plan Overrides.   

WriteValuationElements Business Rule in Global Rules Explorer