I have a question regarding the meaning of the variable pol_sit_duration.
Reporting the data dictionary:
Represents how old the current policy characteristics are. […] The pol_sit_duration is a
metric for how up-to-date the characteristics are.
If the number is greater than 1 does it mean that all information about the policyholder are not updated to the current year of that policy?
(eg. pol_sit_duration=3 --> all information in that line are old of three years, so that age of customer are not updated)
Or does it mean “years since the last change in the policy features”?
(eg. pol_sit_duration=3 --> customer has changed something in the policy three years ago, but personal information of him/her are updated, like age)
Thank you so much.