Examples
Examples
Try the starting example
- Scheduled items: name, loss $, item-specific limit $
- Watch,500,300 Camera,400,500
- Other covered loss outside the schedule ($)
- 1000
- Limit applying only to other loss ($)
- 600
- Single deductible on the combined subtotal ($)
- 100
- Overall model payout limit ($)
- 2000
- Scheduled-item loss after item limits ($)
- Watch: 300.00; Camera: 400.00
- Other loss after its separate limit ($)
- $600.00
- Combined subtotal before deductible ($)
- $1,300.00
- Model payout ($)
- $1,200.00
- Total loss retained ($)
- $700.00
Try another scenario
- Scheduled items: name, loss $, item-specific limit $
- Watch,500,300 Camera,400,500
- Other covered loss outside the schedule ($)
- 1000
- Limit applying only to other loss ($)
- 200
- Single deductible on the combined subtotal ($)
- 100
- Overall model payout limit ($)
- 2000
- Scheduled-item loss after item limits ($)
- Watch: 300.00; Camera: 400.00
- Other loss after its separate limit ($)
- $200.00
- Combined subtotal before deductible ($)
- $900.00
- Model payout ($)
- $800.00
- Total loss retained ($)
- $1,100.00
Calculation method
Calculation method
Scheduled-item loss after item limits ($)
min(item loss,item scheduled limit), with each item entered only once.
Other loss after its separate limit ($)
min(other loss,other-loss limit).
Combined subtotal before deductible ($)
Scheduled capped losses+separately capped other loss.
Model payout ($)
min(overall limit,max(0,subtotal−single deductible)).
Total loss retained ($)
All original losses−model payout.
Symbols and units
- a
- Scheduled items: name, loss $, item-specific limit $
- b
- Other covered loss outside the schedule ($)
- c
- Limit applying only to other loss ($)
- d
- Single deductible on the combined subtotal ($)
- e
- Overall model payout limit ($)
Use the units shown. A list keeps the order in which you enter its values. The symbol ^ means “raised to the power of”.
Assumptions & limits
Assumptions & limits
- An item-schedule model keeping scheduled and other loss disjoint. It does not decide whether an item is scheduled, covered or subject to a deductible; those terms are explicit inputs.
Are these inputs private?
These calculations run in your browser. A shared link contains the values you choose to share. Only questions submitted to the separate AI finder are sent to OpenAI.
Further reading
NAIC: insurance terminology background; the displayed model is user specified ↗
Background reading; this does not imply endorsement or independent review of SumFizz.