Set insurance valuation rule – A summary of the activity

This process or rule helps you to value the assets for the purpose of insurance. An asset is insured based on its original cost or on the cost after revaluation. An asset cost can appreciate or depreciate based on the market. You can ascertain the value of an asset with respect to the type of the policy under which the asset is to be insured. The process or rule defined in this activity is simulated in the “Asset Revaluation” business component after which the corresponding run number is taken as reference while creating the policy.

This page allows you to set a new valuation rule or modify an existing rule. Based on the type of policy, you can set the rule to appreciate or depreciate the value of an asset. You can also revalue the asset taking into account the cumulative depreciation. If the basis of revaluation is the revaluation cost you can select various options by which the asset value can be calculated. Revaluation of the asset can be done with reference to “Indexes”, “Percentage”, “By Amount” and “To Amount”. Based on the option selected you can set the method in which the revaluation can take place. If revaluation is done with respect to an index, you can also define the index values here.