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Oracle® Insurance Rules Palette 9.4.1.0 E23637_01

# Scheduled Valuation Configuration

The purpose of Scheduled Valuation is to perform a policy valuation at a specific point in time for a group of policies and store that valuation for subsequent use. The time intervals for running the valuation are set by the user. The frequency at which policies are subject to valuation is also set by the user. Typical time intervals are quarterly, semi or annually. Multiple currencies are supported in Scheduled Valuation and policy information such as value and deposit information can be stored in the database.

A plan level transaction is configured to perform scheduled valuation. There are two business rules that should be attached to the transaction: ScheduledValuation and CopyToScheduledValuationFields.

## Scenario

Use a plan level transaction to perform scheduled valuation on all policies within the plan.

Note: Cycle is involved in scheduled valuation. A cycle agent has to be deployed; either in a web container like Weblogic or Websphere, or as a standalone application, and must be running in order for scheduled valuation to work correctly. Refer to the Cycle document in the Documentation Library on OTN for additional information on cycle.

## Configuration Requirements

The following components must be configured in order to perform scheduled valuation:

- a plan must be created and the PlanScreen business rule must be configured and segments must be defined.

- funds must be created and associated with the plan.

- the InterestRateCalculation business rule must be overridden for each fixed fund.

- the PolicyScreen business rule must be overridden at the plan level.

- a plan-financial transaction with the <Asynchronous> element must be configured. The fields and math should contain data that all scheduled valuation records will recieve via the configuration in the CopyToScheduledValuationFields business rule.

- the ScheduledValuation business rule with the PlanGUID for the plan where scheduled valuation should occur. This should be attached to the transaction.

- the CopyToScheduledValuationFields business rule, which should be attached to the transaction.

- the PolicyValues business rule overridden at the plan level. This is where individual values for each policy executing through ScheduledValuation are calculated. These may be accessed by CopyToSecheduledValuationFields.

- Cycle agent must be deployed and running.

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## Optional Requirements

If point in time valuation is needed, then the following additional business rules and tables need to be configured:

- the PointinTimeValuation business rule should be overriden at the plan level

- the WriteValuationElements business rule should be overriden at the plan level

- AsPlan table column named PointInTimeValuation must be set to a value of Y

- DepositLevelTracking table column named AsFund must be set to a value of N

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## Prototype Samples

Funds need to be created, along with an InterestRateCalculation business rule override for each fund. The Funds are displayed in the Main Explorer in Companies | Prototype Company | Subsidiary Companies | Prototype Child Company | Plans | Functional Prototype Plan | Funds. The rule overrides are displayed in the Global Rules Explorer in Business Rules | System | InterestRateCalculation | Fund Overrides.

Funds from Main Explorer and InterestRateCalculation Overrrides from Global Rules Explorer

There are several business rules used to demonstrate this configuration:

- PolicyScreen business rule: this rule must be overridden at the plan level. Two new fields are needed: one for InterestBonusQual and one for Effective date. Navigate in the Main Explorer to Companies | Prototype Company | Subsidiary Companies | Prototype Child Company | Plans | Functional Prototype Plan | Plan Rules.

- PolicyValues business rule: this rule should be overridden at the plan level. Navigate in the Main Explorer to Companies | Prototype Company | Subsidiary Companies | Prototype Child Company | Plans | Functional Prototype Plan | Plan Rules.

PolicyValues and PolicyScreen Plan Level Overrides in Main Explorer

- ScheduledValuation business rule: this rule should be overridden at the transaction level and attached to the transaction. Navigate in the Main Explorer to Companies | Prototype Company | Subsidiary Companies | Prototype Child Company | Plans | Functional Prototype Plan | Transactions | Plan Transactions | ScheduledValuation | Attached Rules.

- CopyToScheduledValuationFields business rule: this rule should be overridden at the transaction level and attached to the transaction. Navigate in the Main Explorer to Companies | Prototype Company | Subsidiary Companies | Prototype Child Company | Plans | Functional Prototype Plan | Transactions | Plan Transactions | ScheduledValuation | Attached Rules.

Scheduled Valuation Transaction Attached Rules in Main Explorer

- InterestRateCalculation rule: this rule was discussed in the fund section and should be overridden at the fund level for each fund.

There is one plan level transaction configured to demonstrate scheduled valutation:

- ScheduledValuation: this transaction must include the <AsynchronousActivity> element. Navigate in the Main Explorer to Companies | Prototype Company | Subsidiary Companies | Prototype Child Company | Plans | Functional Prototype Plan | Transaction | Plan Transactions to view the configuration.

ScheduledValuation Transaction in Main Explorer

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