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Insight Enterprise v9.7 Release

ULTIMATE RATE TABLES

Ultimate only expected rate tables have been added for the core Studies allowing for a more natural rate input format consistent with industry tables.  Users now can load fully select rates, select & ultimate rates or ultimate only rates.  The ultimate tables allow loading and storing of less records leading to improved performance during expected rates cube processing.

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Insight Enterprise v9.5 Release

Policy Survival Application

For predictive analysis, an introduction of a new “Policy Survival” application to study cohorts of policy contracts and its survival rate over time from the policy issued date to termination date.  Survival curves are calculated for a defined range of issue and study dates and any defined policy termination reason at the month, quarter, and year levels.  Confidence intervals are calculated using Greenwood’s formula.

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Insight Enterprise v9.3 Release

Modular System

The Enterprise system has been re-designed with modular data warehouse architecture.  The modules represent areas of business analytics (e.g. Policy Studies, Incurred Claim analysis, Earnings analysis, Agents, etc…).  The Enterprise system can be implemented as a whole or as a modular system with only certain modules.

Load Controller

A new front end tool for users to manage data loads has been introduced.  This menu-driven interface enables a user to view load status, change load configuration settings, execute and monitor jobs, and view job history logs including error reporting.

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Insight Enterprise v9.2 Release

Reload Jobs

Separate fact and process reload jobs have been added to take advantage of flexible split load re-design of v91.

Studies calculation precision

For all studies, the expected input rates are extended to 8 decimal places (dp) with intermediate calculation at float(double precision) and final amounts rounded to 10 dp.

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Insight Enterprise v9.1 Release

Split Load

“Split load” functionality has been introduced to allow individual Policy Admin Systems and its associated data to be loaded independently for different load periods (backcast and incremental). PolAdmSystems can also be deleted independently (allowing for reloads if required).

This required a fundamental redesign of the core dimensional model and processes, introducing the new load control dimension PolAdmSystem and PolAdmSystemID onto all related fact tables.

The load processes have been fundamentally split into the unit dimension and fact loads. However, current loads will continue to be bundled in the standard processes: Admin, Reserve&Alloc, GL, Projection, ExpectedRates.

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Insight Enterprise v9.0 Release

Earnings by Source

The Earnings by Source functionality has been re-designed to allow more flexible and transparent analysis of the sources and projections across the main policy data of contracts, reserves, funds, and earnings.

With the change 6 new applications have been added and 4 applications removed.  The new applications are:

  • Policy Gains
  • Policy Movement projection
  • Fund Movement projection
  • Reserve Movement projection
  • Policy Income projection
  • Policy Gains projection

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Insight Enterprise v8.9 Release

New Functionality

Multiple Earnings Type

The Earnings related and Sources of Earnings functionality has been re-designed to allow analysis to be performed on more than one regulatory earnings bases, such as Canadian IFRS and European Solvency II. An Earnings type dimension has been added to all earnings related applications including Policy and GL income, Reserves and Projections, and Earnings by Sources.

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Insight Enterprise v8.8 Release

New Functionality

Claim Utilization Study

A new Claim Utilization application is introduced allowing analysis of claims paid as a proportion of the guaranteed benefit amount. This study is embedded within the Claim Termination exposure and is fully integrated and consistent with the Claim Termination study.

Paid Utilization Rate is Paid Month/Benefit Month or the monthly paid claims exposure as a proportion of the monthly contract exposure.

Aggregate claim payments for a period are defined in the source table srcClaimPymts using the ServiceFromDate and GrossClaimPaid with adjustment to benefit months made by apportioning either by month or number of days.

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Insight Enterprise v8.7 Release

Release 8.7 (re)introduces claim transition studies. These are used for long term care analysis allowing claims to be analyzed by by claim cause, duration since loss date and duration since start of the claim state. This is fully integrated with the claim termination study.

This release also incorporates substandard ratings in the policy termination study expresses as factors or flat extras, and adds the Policy Year study method to the claim termination analysis.

New Functionality

Claim Transition Study

A new Claim Transition application is available allowing state-transition studies using the latest claim and claim state records.  It is fully integrated and consistent with the Claim Termination study.

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Insight Enterprise v8.6 Release

Insight Enterprise v8.6 has now been shipped to clients. This release contains some major enhancements to experience study functionality by incorporating the Life Year method, commonly used in Europe, and adding dependent joint life studies.

After a short break and cake to celebrate, work commenced on v8.7 which will further enhance Long Term Care Functionality.

A full description of the changes introduced in v.8.6 can be found here.