Processes
Determine premiums
How determine premiums are reshaped as AGI capability advances.
ProcessesDetermine premiums
Business-as-Code
Read as an executable program — the work decomposed into Code, Generative, Agentic, and Human.
Determine premiums sits inside a larger value-flow — 1 parent structure it composes into. The hierarchy is grounding, not the story: it tells you which aggregate exposure Determine premiums inherits.
Where Determine premiums sits
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How the work flows
Trigger: A request to price a new, renewing, or modified policy is received with completed risk evaluation and rating parameters.
- Review risk assessment and underwriting rating factors
- Apply base rates according to actuarial tables and filed rate plans
- Apply specific debits, credits, and policyholder discounts
- Calculate statutory surcharges, fees, and taxes
- Determine final gross premium for the policy term
- Validate premium against regulatory and internal pricing guidelines
Outcome: The final premium amount is calculated, validated, and recorded for the policy quote or endorsement.
Measured by
Premium Calculation AccuracyPremium Processing Cycle TimeRate Adequacy Ratio