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Commercial Auto Product Model
The Commercial Auto product is a single-instance product model that lets businesses create quotes for multiple vehicles that are tied to a single location.
Insured Items
The insured items in Commercial Auto product are:
Name |
Product Code |
Product Type |
Description |
|---|---|---|---|
Business |
business |
Insured Item Spec |
This item contains all the attributes from the Applicant Business Terms attribute category. |
Location |
location |
Insured Item Spec |
This item contains all the attributes from the Hazards and Location Terms attribute category. |
Vehicle |
autoVehicle |
Insured Item Spec |
This item contains attributes from the Auto Vehicle attribute category. |
To learn more about insured item specs, see Child Specs for Root Products.
Coverages
Coverage specs define the required and optional coverages on an insurance product. On the Product page, the Product Record Type at the top left of the page = Coverage Spec.
The Commercial Auto product model contains the following coverage specs:
Coverage Spec Name |
Product Code |
Configuration |
|---|---|---|
Collision |
autoCollision |
Contains the Collision Deductible power attribute, configured with Currency Dropdown values. |
Comprehensive |
autoComp |
Contains the Comp Deductible power attribute, configured with Currency Dropdown values. |
Medical Payments |
autoMedical |
Contains the Med Pay Person Limit power attribute, configured with Currency Dropdown values. |
Uninsured Motorist |
autoUM |
Contains the UM Limit power attribute, configured as a Picklist Dropdown. |
Bodily Injury & Property Damage |
autoBIPD |
Contains the BIPD Limit power attribute, set up as a Multivalue Picklist with a list of split-limit values. |
To learn more about coverage specs, see Child Specs for Root Products.
Commercial Auto Root Product
The root product spec is the container for the Commercial Auto product model. The system uses the data stored in this product model in downstream business processes, including quoting, and issuing policies.
The Vehicle insured item spec is a child of the Location insured item spec, which makes Vehicle a grandchild of the Commercial Auto root product. This hierarchy creates a parent > children > grandchildren product structure. When the Commercial Auto product is rated out for quoting and a policy gets issued, multiple vehicles can be associated with one location. The vehicle records are stored only once, despite being associated with multiple locations.
The Commercial Auto root product contains a number of coverages, all of which are associated with the Location insured item as a parent insured item. This structure makes Commercial Auto a multi-instance product model. This means that whenever a quote is rated out for this product, each location in the quote can have its own different levels of coverage.
To learn about how to set up root product specs, see Root Product Specs.
Attributes
All the attributes used in the CommercialAuto insurance product and the insured item spec, insured party spec, and coverage specs are defined in the Vlocity Attribute Designer. Attributes are arranged into Attribute Categories.
Want to see a complete list of the attributes used in the Multi Auto product model? Visit the Auto Attribute Catalog.
In the Vlocity Attribute Designer, basic information is defined for all attributes, such as name and attribute code.
For specific limit and deductible attributes that we use to describe policy terms, more information is defined:
-
Attribute Class
-
Attribute Scope
-
Applicable Actions
-
Applicable Item
-
Value Type
Attributes that have these fields set are called power attributes. Power attributes are defined for policy terms so that the claims system can track them.
To learn more about power attributes, including when to use them and how to set them up, see Policy Terms as Power Attributes.
Simulate Rating
The Simulate tab on the root product spec has the ratings set up to simulate rating the Multi Auto product model. To learn about this setup, see Auto Rating.
