Configuration Parameters

Overview

Configuration parameters are system variables that can be used to configure a product type. For Instance, an installment loan can be configured using parameters such as loan amount, interest rate and term.

Where is this done?

Configuration Parameters are created during the creation of a product type. These are further specified (e.g., possible range) when creating a product (within a product type group)

Lastly configuration parameters are assigned values during policy creation

Adding Configuration Parameter(s)?

Creating Configuration Parameters

While creating a Product Type users can use as many configuration parameters as they want to design the product

• Click on the Configuration Parameters tab
• Click on Edit

• Click on Add Configuration Parameter

• Enter Parameter information
• Attributes:
• Type - It could be either Numerical, String or Boolean
• Click on Create

Setting values for Configuration Parameters

• During Product Configuration, set the values for Configuration Parameters
• On the Product Configuration tab, click on Edit

• Select the Configuration Parameter from the list. These are based on the Product Type selected in the Product details

• Click on Add Parameter

• Choose the config. type from the list for configuration

• List

  • Click on Add and enter the first value
  • Similarly, keep adding more values as needed to create a list of possible values

  

• Range

  • Enter Minimum and Maximum values under respective fields
  • Enter the Value in Step ( e.g. Step of 500 with a minimum of 1000 would mean possible loan amounts of 1000, 1500, 2000,… till the maximum assigned value)
  • Click on Save Changes button to save the Configurations

  

Info

If the attribute is Categorical then only List radio button will appear, however, if the attribute is Numerical there will be 2 radio buttons- List and Range

Refining of assigning specific values to configuration parameters (during policy creation)

• Values of Configuration Parameter can be refined during Policy creation
• Refer setting up of Configuration Parameter in Offer Creation for details