Scoring overview
Overall cover score consists of three parts:
‐ Feature Score (includes Benefits and Trauma Conditions)
‐ 1 Year Premium Score
‐ 10 Year Premium Score
▪ Each part has a weighting based on cover
▪ Benefits and Covers are mapped to Rice Warner standard lists
How it works – Overall Weights
▪ Premiums weighted more heavily for Death. Features are worth more for Income Protection and Trauma
▪ Accidental covers have higher weighting towards premiums
| Rice Warner Cover Name | Features Score | 1 Year Premium Score | 10 Year Premium Score | Total |
|---|---|---|---|---|
| Accidental Death | 15 | 42.5 | 42.5 | 100 |
| Accidental Income Protection | 45 | 27.5 | 27.5 | 100 |
| Accidental Total & Permanent Disability | 25 | 37.5 | 37.5 | 100 |
| Activities of Daily Living Total & Permanent Disability | 25 | 37.5 | 37.5 | 100 |
| Blood Borne Disease | 25 | 37.5 | 37.5 | 100 |
| Business Expense | 55 | 22.5 | 22.5 | 100 |
| Child Trauma | 60 | 20 | 20 | 100 |
| Death | 30 | 35 | 35 | 100 |
| Severity Based Trauma | 60 | 20 | 20 | 100 |
| Home Duties Income Protection | 45 | 27.5 | 27.5 | 100 |
| Income Protection | 60 | 20 | 20 | 100 |
| Total & Permanent Disability | 45 | 27.5 | 27.5 | 100 |
| Trauma | 60 | 20 | 20 | 100 |
| Parent Death Cover | 15 | 42.5 | 42.5 | 100 |
How it works – Scoring Classifications
▪ Benefits are classified in four categories which are primary, secondary, major ancillary and minor ancillary
▪ Primary Benefits have specified weights
▪ Secondary, Major Ancillary and Minor Ancillary benefits all have the same weight as other benefits in the same classification
▪ Primary and Secondary benefits have scoring questions
▪ Benefits are divided into four categories
▪ Points are allocated based on how many benefits a product has in each category, as well as responses to scoring questions
| Rice Warner Cover Name | Primary | Secondary | Major Ancillary | Minor Ancillary | Total |
|---|---|---|---|---|---|
| Accidental Death | 76.5 | 20 | 3 | 0.5 | 100 |
| Accidental Income Protection | 70 | 25 | 3.5 | 1.5 | 100 |
| Accidental Total and Permanent Disability | 75 | 22.25 | 2.5 | 0.25 | 100 |
| Activities of Daily Living Total & Permanent Disability | 72.5 | 26.5 | 1 | 0 | 100 |
| Blood Borne Disease | 77.5 | 21.5 | 1 | 0 | 100 |
| Business Expense | 80 | 16.5 | 2.5 | 1 | 100 |
| Child Trauma | 81.5 | 15 | 3 | 0.5 | 100 |
| Death | 88.5 | 7.5 | 3 | 1 | 100 |
| Severity Based Trauma | 85 | 10 | 4 | 1 | 100 |
| Home Duties Income Protection | 87.5 | 7.5 | 4 | 1 | 100 |
| Income Protection | 80 | 10 | 5 | 5 | 100 |
| Total & Permanent Disability | 82.5 | 14 | 2.5 | 1 | 100 |
| Trauma | 80 | 12.5 | 5 | 2.5 | 100 |
| Parent Death Cover | 85 | 10 | 4.5 | 0.5 | 100 |
How it works – Trauma Scores
▪ Trauma Scores are calculated the same way as benefit scores
▪ Trauma Conditions are split into four categories
▪ Primary Trauma Conditions are given different weights for each gender, derived from claims rates
| Primary Trauma Conditions | Male Weight | Female Weight |
|---|---|---|
| Cancer | 71 | 89 |
| Coronary Artery Angioplasty | 3.5 | 0.5 |
| Coronary Artery Bypass Surgery | 3.5 | 0.5 |
| Heart Attack | 12 | 3.5 |
| Loss of Independence | 3 | 3 |
| Serious Accidental Injury | 3 | 2 |
| Stroke | 4 | 1.5 |
How it works – Premium Scores
▪ Year 1 Premium Score and 10 Year Aggregate Premium Scores are calculated
▪ Full points are given to the lowest premium, with less points awarded for being further away from the lowest
Post your comment on this topic.