Pricing Matrix Functions¶

The Pricing Matrix is the core data structure for insurance premium calculations. These 27 functions build and manipulate pricing structures, applying items, factors, discounts, taxes, and regulatory charges.

Configuration Functions¶

`$SetCurrencyToPricingMatrix`¶

Sets the currency for the pricing matrix.

Signature

$SetCurrencyToPricingMatrix(currency)

Parameters

currency (string) - ISO currency code (e.g., "GBP", "USD", "EUR")

Returns

PricingMatrix object

Example

$SetCurrencyToPricingMatrix("GBP");

`$SetCommissionRateToPricingMatrix`¶

Sets the commission rate applied to gross premium.

Signature

$SetCommissionRateToPricingMatrix(rate)

Parameters

rate (number) - Commission rate as decimal (e.g., 0.15 for 15%)

Returns

PricingMatrix object

Example

$SetCommissionRateToPricingMatrix(0.15);  // 15% commission

`$SetIptRateToPricingMatrix`¶

Sets the Insurance Premium Tax (IPT) rate.

Signature

$SetIptRateToPricingMatrix(rate)

Parameters

rate (number) - IPT rate as decimal (e.g., 0.12 for 12%)

Returns

PricingMatrix object

Example

$SetIptRateToPricingMatrix(0.12);  // 12% IPT

`$SetFeeToPricingMatrix`¶

Sets a fixed fee amount.

Signature

$SetFeeToPricingMatrix(amount)

Parameters

amount (number) - Fee amount

Returns

PricingMatrix object

Example

$SetFeeToPricingMatrix(25.00);  // £25 admin fee

`$SetTaxDutyToPricingMatrix`¶

Sets tax/duty configuration for the pricing matrix.

Signature

$SetTaxDutyToPricingMatrix(config)

Parameters

config (object) - Tax/duty configuration object

Returns

PricingMatrix object

Example

$SetTaxDutyToPricingMatrix({ rate: 0.05, description: "Stamp Duty" });

`$SetPreCalculatedIptToPricingMatrix`¶

Sets a pre-calculated IPT amount instead of calculating from rate.

Signature

$SetPreCalculatedIptToPricingMatrix(amount)

Parameters

amount (number) - Pre-calculated IPT amount

Returns

PricingMatrix object

Example

$SetPreCalculatedIptToPricingMatrix(60.00);  // Fixed £60 IPT

`$SetPreCalculatedIptToAdjustmentDifferencePricingMatrix`¶

Sets pre-calculated IPT for adjustment differences in MTAs.

Signature

$SetPreCalculatedIptToAdjustmentDifferencePricingMatrix(amount)

Parameters

amount (number) - Pre-calculated IPT adjustment amount

Returns

PricingMatrix object

Example

$SetPreCalculatedIptToAdjustmentDifferencePricingMatrix(5.50);

`$SetMinimumPremiumToPricingMatrix`¶

Sets a minimum premium threshold.

Signature

$SetMinimumPremiumToPricingMatrix(amount)

Parameters

amount (number) - Minimum premium amount

Returns

PricingMatrix object

Example

$SetMinimumPremiumToPricingMatrix(100.00);  // Minimum £100 premium

`$ApplyIptToFeeInPricingMatrix`¶

Applies IPT to fee amounts.

Signature

$ApplyIptToFeeInPricingMatrix()

Parameters

None

Returns

PricingMatrix object

Example

$SetFeeToPricingMatrix(25.00);
$ApplyIptToFeeInPricingMatrix();  // IPT now applies to fee

Item Functions¶

`$AddItemToPricingMatrix`¶

Adds a premium item (base premium or component).

Signature

$AddItemToPricingMatrix(name, amount, quantity)

Parameters

name (string) - Item description
amount (number) - Item amount per unit
quantity (number) - Quantity (usually 1.0)

Returns

PricingMatrix object

Example

$AddItemToPricingMatrix("Base Premium", 500.00, 1.0);
$AddItemToPricingMatrix("Camera Cover", 75.00, 2.0);  // 2 cameras

`$AddPreCalculatedItemToPricingMatrix`¶

Adds an item with pre-calculated net and gross premiums.

Signature

$AddPreCalculatedItemToPricingMatrix(name, net, gross, isMTARefundable, isMTAFullPremium)

Parameters

name (string) - Item description
net (number) - Net premium (before commission)
gross (number) - Gross premium (after commission)
isMTARefundable (boolean) - If true, refundable on MTA cancellation
isMTAFullPremium (boolean) - If true, charges full premium on MTA (not pro-rated)

Returns

PricingMatrix object

Example

// Pre-calculated item from third-party system
$AddPreCalculatedItemToPricingMatrix("Third Party Item", 170.00, 200.00, true, false);

// Non-refundable setup fee with full premium on MTA
$AddPreCalculatedItemToPricingMatrix("Setup Fee", 50.00, 59.00, false, true);

`$RemoveItemFromPricingMatrix`¶

Removes an item by name.

Signature

$RemoveItemFromPricingMatrix(name)

Parameters

name (string) - Item name to remove

Returns

PricingMatrix object

Example

$RemoveItemFromPricingMatrix("Camera Cover");

Factor Functions¶

Factors are multiplicative adjustments (e.g., age factors, risk factors).

`$AddFactorToPricingMatrix`¶

Adds a factor to the pricing matrix.

Signature

$AddFactorToPricingMatrix(name, rate, accumulative, applicability)

Parameters

name (string) - Factor description
rate (number) - Factor rate (e.g., 1.25 = 125%)
accumulative (boolean) - If true, multiplies existing premium; if false, applies to base only
applicability (number) - Applicability flag (0 = all items)

Returns

PricingMatrix object

Example

$AddFactorToPricingMatrix("Age Factor", 1.25, true, 0);  // 25% increase
$AddFactorToPricingMatrix("No Claims Discount", 0.90, true, 0);  // 10% reduction

`$AddItemFactorToPricingMatrix`¶

Adds a factor specific to an item.

Signature

$AddItemFactorToPricingMatrix(itemName, factorName, rate, accumulative)

Parameters

itemName (string) - Target item name
factorName (string) - Factor description
rate (number) - Factor rate
accumulative (boolean) - Accumulative flag

Returns

PricingMatrix object

Example

$AddItemFactorToPricingMatrix("Camera Cover", "High Value Factor", 1.50, true);

Discount Functions¶

`$AddGrossDiscountToPricingMatrix`¶

Adds a discount applied to gross premium.

Signature

$AddGrossDiscountToPricingMatrix(name, amount, isPercentage)

Parameters

name (string) - Discount description
amount (number) - Discount amount or percentage (e.g., 10 for 10%)
isPercentage (boolean) - True for percentage, false for fixed amount

Returns

PricingMatrix object

Example

$AddGrossDiscountToPricingMatrix("Loyalty Discount", 10, true);  // 10% off gross
$AddGrossDiscountToPricingMatrix("Promo Code", 25.00, false);  // £25 off

`$AddNetDiscountToPricingMatrix`¶

Adds a discount applied to net premium (before commission).

Signature

$AddNetDiscountToPricingMatrix(name, amount, isPercentage)

Parameters

name (string) - Discount description
amount (number) - Discount amount or percentage
isPercentage (boolean) - True for percentage, false for fixed amount

Returns

PricingMatrix object

Example

$AddNetDiscountToPricingMatrix("Multi-Policy", 5, true);  // 5% off net

`$AddInternalDiscountToPricingMatrix`¶

Adds an internal discount (not visible to customer).

Signature

$AddInternalDiscountToPricingMatrix(name, amount, isPercentage)

Parameters

name (string) - Discount description
amount (number) - Discount amount or percentage
isPercentage (boolean) - True for percentage, false for fixed amount

Returns

PricingMatrix object

Example

$AddInternalDiscountToPricingMatrix("Partner Arrangement", 3, true);

`$AddItemGrossDiscountToPricingMatrix`¶

Adds a gross discount specific to an item.

Signature

$AddItemGrossDiscountToPricingMatrix(itemName, discountName, amount, isPercentage)

Parameters

itemName (string) - Target item name
discountName (string) - Discount description
amount (number) - Discount amount or percentage
isPercentage (boolean) - True for percentage, false for fixed amount

Returns

PricingMatrix object

Example

$AddItemGrossDiscountToPricingMatrix("Camera Cover", "Bundle Discount", 15, true);

`$AddItemNetDiscountToPricingMatrix`¶

Adds a net discount specific to an item.

Signature

$AddItemNetDiscountToPricingMatrix(itemName, discountName, amount, isPercentage)

Parameters

itemName (string) - Target item name
discountName (string) - Discount description
amount (number) - Discount amount or percentage
isPercentage (boolean) - True for percentage, false for fixed amount

Returns

PricingMatrix object

Example

$AddItemNetDiscountToPricingMatrix("Base Premium", "Item Discount", 10, false);

Add-On Functions¶

Add-ons are optional coverages or charges with their own commission/IPT structure.

`$AddAddOnToPricingMatrix`¶

Adds an add-on with full pricing configuration.

Signature

$AddAddOnToPricingMatrix(name, netRate, commissionRate, iptRate, isRefundable, discountAllowed, isFullPremiumMTA)

Parameters

name (string) - Add-on description
netRate (number) - Net premium
commissionRate (number) - Commission rate (decimal)
iptRate (number) - IPT rate (decimal)
isRefundable (boolean) - If true, refundable on cancellation
discountAllowed (boolean) - If true, discounts can apply to this add-on
isFullPremiumMTA (boolean) - If true, charges full premium on MTA (not pro-rated)

Returns

PricingMatrix object

Example

// Refundable add-on with discounts allowed, pro-rated on MTA
$AddAddOnToPricingMatrix("Legal Expenses", 25.00, 0.15, 0.12, true, true, false);

// Non-refundable add-on, full premium on MTA
$AddAddOnToPricingMatrix("Setup Fee", 50.00, 0.10, 0.12, false, false, true);

`$AddPremiumAddOnToPricingMatrix`¶

Adds a premium-based add-on.

Signature

$AddPremiumAddOnToPricingMatrix(name, premiumRate)

Parameters

name (string) - Add-on description
premiumRate (number) - Premium rate

Returns

PricingMatrix object

Example

$AddPremiumAddOnToPricingMatrix("Breakdown Cover", 45.00);

`$RemoveAddOnFromPricingMatrix`¶

Removes an add-on by name.

Signature

$RemoveAddOnFromPricingMatrix(name)

Parameters

name (string) - Add-on name to remove

Returns

PricingMatrix object

Example

$RemoveAddOnFromPricingMatrix("Legal Expenses");

Lead Value Functions¶

`$CalculateLeadValue`¶

Calculates lead value for lead generation scenarios.

Signature

$CalculateLeadValue(params...)

Parameters

Various parameters based on lead value calculation rules

Returns

Calculated lead value

Example

let leadValue = $CalculateLeadValue(basePremium, conversionRate);

`$AddLeadValueFactorAndCostToPricingMatrix`¶

Adds lead value factor and cost to pricing matrix.

Signature

$AddLeadValueFactorAndCostToPricingMatrix(factor, cost)

Parameters

factor (number) - Lead value factor
cost (number) - Lead acquisition cost

Returns

PricingMatrix object

Example

$AddLeadValueFactorAndCostToPricingMatrix(1.15, 12.50);

Complete Example¶

// Initialize pricing matrix
$SetCurrencyToPricingMatrix("GBP");
$SetCommissionRateToPricingMatrix(0.15);
$SetIptRateToPricingMatrix(0.12);
$SetMinimumPremiumToPricingMatrix(100.00);

// Add base premium
$AddItemToPricingMatrix("Base Premium", 450.00, 1.0);

// Apply risk factors
$AddFactorToPricingMatrix("Age Factor", 1.20, true, 0);  // 20% increase
$AddFactorToPricingMatrix("No Claims Discount", 0.85, true, 0);  // 15% decrease

// Add discounts
$AddGrossDiscountToPricingMatrix("Multi-Policy", 10, true);  // 10% off

// Add optional coverages
$AddAddOnToPricingMatrix("Legal Expenses", 25.00, 0.15, 0.12, true, true, false);
$AddAddOnToPricingMatrix("Breakdown Cover", 45.00, 0.10, 0.12, true, true, false);

// Set admin fee
$SetFeeToPricingMatrix(20.00);

// Calculate final premium
$CalculatePremiumAdditive("NewBusiness");

// PricingMatrix.Premium now contains final premium with all adjustments

Next Steps¶

Quote Calculation Functions - Calculate premiums and handle policy changes
Examples - Complete workflow examples

Pricing Matrix Functions¶

Configuration Functions¶

$SetCurrencyToPricingMatrix¶

$SetCommissionRateToPricingMatrix¶

$SetIptRateToPricingMatrix¶

$SetFeeToPricingMatrix¶

$SetTaxDutyToPricingMatrix¶

$SetPreCalculatedIptToPricingMatrix¶

$SetPreCalculatedIptToAdjustmentDifferencePricingMatrix¶

$SetMinimumPremiumToPricingMatrix¶

$ApplyIptToFeeInPricingMatrix¶

Item Functions¶

$AddItemToPricingMatrix¶

$AddPreCalculatedItemToPricingMatrix¶

$RemoveItemFromPricingMatrix¶

Factor Functions¶

$AddFactorToPricingMatrix¶

$AddItemFactorToPricingMatrix¶

Discount Functions¶

$AddGrossDiscountToPricingMatrix¶

$AddNetDiscountToPricingMatrix¶

$AddInternalDiscountToPricingMatrix¶

$AddItemGrossDiscountToPricingMatrix¶

$AddItemNetDiscountToPricingMatrix¶

Add-On Functions¶

$AddAddOnToPricingMatrix¶

$AddPremiumAddOnToPricingMatrix¶

$RemoveAddOnFromPricingMatrix¶

Lead Value Functions¶

$CalculateLeadValue¶

$AddLeadValueFactorAndCostToPricingMatrix¶

Complete Example¶

Next Steps¶

`$SetCurrencyToPricingMatrix`¶

`$SetCommissionRateToPricingMatrix`¶

`$SetIptRateToPricingMatrix`¶

`$SetFeeToPricingMatrix`¶

`$SetTaxDutyToPricingMatrix`¶

`$SetPreCalculatedIptToPricingMatrix`¶

`$SetPreCalculatedIptToAdjustmentDifferencePricingMatrix`¶

`$SetMinimumPremiumToPricingMatrix`¶

`$ApplyIptToFeeInPricingMatrix`¶

`$AddItemToPricingMatrix`¶

`$AddPreCalculatedItemToPricingMatrix`¶

`$RemoveItemFromPricingMatrix`¶

`$AddFactorToPricingMatrix`¶

`$AddItemFactorToPricingMatrix`¶

`$AddGrossDiscountToPricingMatrix`¶

`$AddNetDiscountToPricingMatrix`¶

`$AddInternalDiscountToPricingMatrix`¶

`$AddItemGrossDiscountToPricingMatrix`¶

`$AddItemNetDiscountToPricingMatrix`¶

`$AddAddOnToPricingMatrix`¶

`$AddPremiumAddOnToPricingMatrix`¶

`$RemoveAddOnFromPricingMatrix`¶

`$CalculateLeadValue`¶

`$AddLeadValueFactorAndCostToPricingMatrix`¶