CHANGE_ICR_ACR_FORMULA_CHANGES : RV
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@ -1423,7 +1423,7 @@
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console.log('Policy Run Days (Final):', policy_run_days);
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console.log('Policy Run Days (Final):', policy_run_days);
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let annualised_claims = policy_run_days > 0 ? (incurred_claims / policy_run_days) * 365 : 0;
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let annualised_claims = policy_run_days > 0 ? (incurred_claims / policy_run_days) * 365 : 0;
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let annualised_claims_roundoff = Math.round(annualised_claims);
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let annualised_claims_roundoff = annualised_claims.toFixed(2);
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console.log('Annualised Claims:', annualised_claims);
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console.log('Annualised Claims:', annualised_claims);
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console.log('Annualised Claims (Rounded):', annualised_claims_roundoff);
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console.log('Annualised Claims (Rounded):', annualised_claims_roundoff);
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$('#annualised_claims').val(annualised_claims_roundoff);
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$('#annualised_claims').val(annualised_claims_roundoff);
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@ -1431,22 +1431,22 @@
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let premium_as_on_date = Number($('#premium_date').val()) || 0;
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let premium_as_on_date = Number($('#premium_date').val()) || 0;
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console.log('Premium as on Date:', premium_as_on_date);
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console.log('Premium as on Date:', premium_as_on_date);
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let incurred_claim_ratio = (annualised_claims > 0 && premium_as_on_date > 0)
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let incurred_claim_ratio = (incurred_claims > 0 && premium_as_on_date > 0)
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? (annualised_claims / premium_as_on_date)
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? (incurred_claims / premium_as_on_date) * 100
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: 0;
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: 0;
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let incurred_claim_ratio_roundoff = isFinite(incurred_claim_ratio) ? Math.round(incurred_claim_ratio) : 0;
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let incurred_claim_ratio_roundoff = isFinite(incurred_claim_ratio) ? incurred_claim_ratio.toFixed(2) : 0;
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console.log('Incurred Claim Ratio:', incurred_claim_ratio);
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console.log('Incurred Claim Ratio:', incurred_claim_ratio);
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console.log('Incurred Claim Ratio (Rounded):', incurred_claim_ratio_roundoff);
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console.log('Incurred Claim Ratio (Rounded):', incurred_claim_ratio_roundoff);
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$('#incurred_claims_ratio').val(incurred_claim_ratio_roundoff);
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$('#incurred_claims_ratio').val(incurred_claim_ratio_roundoff);
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let earned_premium = premium_as_on_date > 0 ? (premium_as_on_date / 365) * 364 : 0;
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let earned_premium = premium_as_on_date > 0 ? (premium_as_on_date / 365) * policy_run_days : 0;
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let earned_premium_roundoff = Math.round(earned_premium);
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let earned_premium_roundoff = earned_premium.toFixed(2);
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console.log('Earned Premium:', earned_premium);
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console.log('Earned Premium:', earned_premium);
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console.log('Earned Premium (Rounded):', earned_premium_roundoff);
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console.log('Earned Premium (Rounded):', earned_premium_roundoff);
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$('#earned_premium').val(earned_premium_roundoff);
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$('#earned_premium').val(earned_premium_roundoff);
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let earnedClaimsRatio = earned_premium > 0 ? annualised_claims / earned_premium : 0;
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let earnedClaimsRatio = premium_as_on_date > 0 ? (annualised_claims / premium_as_on_date) * 100 : 0;
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let earnedClaimsRatioRounded = Math.round(earnedClaimsRatio);
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let earnedClaimsRatioRounded = earnedClaimsRatio.toFixed(2);
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console.log('Earned Claims Ratio:', earnedClaimsRatio);
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console.log('Earned Claims Ratio:', earnedClaimsRatio);
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console.log('Earned Claims Ratio (Rounded):', earnedClaimsRatioRounded);
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console.log('Earned Claims Ratio (Rounded):', earnedClaimsRatioRounded);
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$('#earned_claims_ratio').val(earnedClaimsRatioRounded);
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$('#earned_claims_ratio').val(earnedClaimsRatioRounded);
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@ -80,10 +80,10 @@
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<strong>Formulas:</strong><br>
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<strong>Formulas:</strong><br>
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1. Incurred Claims = Paid Claims + Outstanding Claims<br>
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1. Incurred Claims = Paid Claims + Outstanding Claims<br>
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2. Policy Run Days = Incurred Claim Date - Policy Start Date + 1<br>
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2. Policy Run Days = Incurred Claim Date - Policy Start Date + 1<br>
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3. Earned Premium = (Premium as on Date / 365) × 364<br>
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3. Earned Premium = (Premium as on Date / 365) × Policy Run Days<br>
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4. Annualised Claims = (Incurred Claims / Policy Run Days) × 365<br>
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4. Annualised Claims = (Incurred Claims / Policy Run Days) × 365<br>
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5. Incurred Claim Ratio = Annualised Claims / Premium as on Date<br>
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5. Incurred Claim Ratio = Incurred Claims / Premium as on Date<br>
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6. Earned Claims Ratio = Annualised Claims / Earned Premium
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6. Earned Claims Ratio = Annualised Claims / Premium as on Date
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</div>
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</div>
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</span>
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</span>
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</div>
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</div>
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