Generating Insurance Claims

Insurance claims are simulated as discrete change signals. Hence, the Claims field accepts only discrete change signals.

The button to the right of the field is used to enter multiple claims:

Note that you can also enter multiple discrete change signals into this field by separating them by semi-colons:

The discrete change signals representing the claims must have dimensions of currency, must have non-negative values and can have either Add or Replace instructions (the two instruction types are treated identically).

When an Insurance element receives a Claim, it applies the Deductible and Cap, and determines what portion of the claim is covered, and what portion is not covered. The outputs of the Insurance element summarize the current state of the policy (e.g., cumulative amount covered, cumulative uncovered). The element also generates discrete change signals representing the covered and uncovered claim amounts.

Note: If the Deductible and Cap are scheduled to be reset at the same time at which a claim is received, the claim is always processed before resetting the Deductible and Cap.

Note: If an Insurance element is inside an inactive conditional Container, all claims it receives are ignored.