Technical Premium¶
Socotra enables you to optionally track the “technical” or “pure” premium alongside the actual charged premium for each peril.
Overview¶
Technical premium is calculated, tracked, and updated the same way as actual premium:
Tracked at the peril level
Allocated to periods of coverage
Prorated the same way in cancellations
Recalculated during repriced endorsements
Rollups of technical premium are available at the exposure and policy level if all perils have technical premium defined. Technical premium does not create financial transactions, and therefore are not itemized on invoices
Configuration¶
In the peril premium calculation, use the set_month_technical_premium or set_year_technical_premium liquid filters to record the technical premium.
Example: [myPerilName].premium.liquid
{{ 950 | set_year_technical_premium }} {{ 1000 | set_year_premium }}
Documents¶
Technical premium is exposed in document templates in the data.policy.exposures object.
API¶
Technical premium is available as part of the Policy2Response, in the PerilCharacteristicsResponse object.