Hi All, My understanding of Model Point is - a sample policy that represents a particular product group. Can anyone please confirm if my understanding is correct? If not, what is the correct definition? Thanks, Yash
Hi Yash Yes, this is what a model point is. I would go one stage further though and say that the model point will represent a particular group of policyholders as well as a particular product. So we might have a model point for 25 year endowment assurances with a monthly premium of 100 sold to 30 year old female non-smokers. This model point might be used to represent all female non-smoker policyholders with premiums between 50 and 150 and aged between 25 and 35. We'd then have other model points for other ages and premium sizes. There would be a similar set of model points for female smokers, and then a similar set for males. Best wishes Mark
