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General Liability Product Model
To understand how the General Liability application works, you need to figure out how the General Liability product is built.
The product model is like the blueprint of the application. The product model underpins all the business processes used in the General Liability line of business. To learn about the components of product models in Vlocity Insurance, see the Insurance and Health Product Models.
Insured Items
The top-level insured items for the General Liability product model 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. |
Building |
building |
Insured Item Spec |
This item contains attributes from the Small Building Terms attribute category. |
Values for these attributes are collected from the customer when they're shopping for insurance. Vlocity Insurance uses many of these attributes to rate the General Liability product.
Many of these attributes correspond to user inputs in the quote OmniScript and quote UI.
Coverages
A coverage spec you create and attach to a product becomes a coverage that your users interact with in quote and policy purchase flows. They define the required and optional coverages on an insurance product.
The General Liability product model contains the following coverage specs:
Coverage Spec Name |
Product Code |
Required/Optional |
|---|---|---|
Medical Expense |
medExpense |
Required |
Property Damage |
propDamage |
Required |
Bodily Injury |
bodInjury |
Required |
Premise Liability |
premiseLiability |
Required |
Location Coverage |
locCoverage |
Required |
Your users interact with coverages in quote and policy flows so it's important that you create them wisely. To learn more about coverage specs, see Child Specs for Root Products.
Root Products
The root product spec is the container for the General Liability product models. The system uses the data stored in this product model in downstream business processes, including quoting, issuing policies, and adjudicating claims.
The root products contain a number of coverages, all of which are associated with the root product. This structure makes the General Liability product a single instance product model. This means that whenever a quote is rated out for this product, if multiple businesses are included, each has the same level of coverage.
But with this structure, we're expecting that our customers will insure only one business per policy. Within the product, you can customize your quotes by adding different coverages and modifying their respective deductibles.
To learn about how to set up root product specs, see Root Product Specs.
Attributes
Some product attributes are mapped to rating inputs. Attribute data is collected during a business process like quoting and passed on to product services to calculate prices.
All the attributes used in the General Liability product models 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 General Liability product model? See the General Liability Attribute Catalog.
In the Vlocity Attribute Designer, basic information is defined for all attributes, such as name and attribute code.
The attribute's value data type, available values, default selected value, rating status, and other specifics are configured on the insured item spec, insured party spec, coverage spec, or root product spec.
Simulate Rating the Product
We've set up ratings on the Simulate tab on the root product spec to simulate rating the General Liability product model. If you want to figure out how we've set these up, see General Liability Rating.
