You are here:
Pricing Formulas
After the rating procedure returns the coverage prices, Vlocity uses the product model pricing formulas to roll up the prices. On the product model, the premium per vehicle is calculated, and the total policy premium is calculated.
This happens on the Simulate tab of the product model. On the Commercial Auto product model's Simulate tab, you'll see the Rating Inputs and Rating Outputs mapped from the rating procedure. To learn how to do this, see Mapping Ratings to Product Spec.
Under the Rating Output section of the Simulate tab, the formula to calculate the per-vehicle premium is in the Commercial Auto > Total Pricing Formula field. The total Pricing Formula is TotalPremium.
