CSV Step Function Files

Touchstone supports the step function record only for primary property policies. The record can be used to implement single-location residential endowment policies in Japan. It was developed to support the multi-step structure of Japanese earthquake policies. Rather than paying out a continuous amount for any damages that occur at a location, policies with step functions define ranges where any damages that fall between "x" and "y" will be paid out at a certain amount. You can also use step functions for any region, peril, or line of business. The record contains fields that detail the damage ratios in each of the steps that dictate when certain coverage-specific payouts are made.

Step functions do not apply to facultative or workers' compensation policies.

You link each set of step function entries to the policy (contract) to which the step function applies by including the relevant contract ID in each step function entry. Further, although you define a set of step function entries once for a contract, Touchstone applies the step function to each location within the contract individually.