Guidewire :: Policyperiod entity

Question

Why for policy period entity ,attribute type = effdated in policy center whereas it’s retireable in billing center ?

Tried searching in documents but was unable to conclude.could someone please help me understanding the difference

Answer 1

PolicyPeriod is not an effdated entity in PolicyCenter and this is a common misconception. PolicyPeriod is an effdatedbranch entity. An effdatedbranch entity is a retireable entity. Such entities are used to define the entity type of the root of a tree that contains effdated entities. So PolicyPeriod itself is not effdated but it is the root of all other effdated entities like PolicyLine, PolicyDriver, Cost, etc.

So the hierarchy of entities in PC is like

Policy [effdatedcontainer] -> PolicyPeriod [effdatedbranch] -> All [effdated] entities

PolicyCenter necessitates effdated entities to facilitate an accurate point-in-time reconstruction of all policy attributes during Policy Periods. The reason behind introducing effdated is to enable the revisioning of entities according to effective and end dates. Consequently, every modification to a policy (via jobs) results in the creation of a new policy period row. This allows for the retrieval of a specific segment of the policy based on a slice date. Version changes to a policy hold paramount significance in PolicyCenter, particularly in the context of rate calculation.

On the contrary, BillingCenter does not necessitate the storage of multiple versions of a policy. Only the bound or promoted version is transmitted to BillingCenter along with a detailed breakdown of charges and costs, which BC then slices and incorporates into invoices. The majority of entities are categorized as retireable since there is no requirement to version them based on effective and end dates. This entity type is recommended for most common use cases, even when creating a custom entity.

Answer 2

It is important to note that a PolicyPeriod in BillingCenter and PolicyCenter represent two different concepts.

• In PolicyCenter, a PolicyPeriod is a slice of a term.
• In BillingCenter, a PolicyPeriod represents a term which better maps to PolicyTerm in PolicyCenter.