Policy Termination (Mortality and Withdrawal) Study
The Mortality and Withdrawal Rate tables were merged into Policy Termination
Rates (based on the Mortality Structure with the addition of PolicyTermReasonGroup attribute). The existing mortality rates migrated into the ClntFactors,ClntMap and StdRate table with PolTermRsnGrp = Mortality, while Withdrawal rates migrated into ClntRates with PolTermRsnGrp = Withdrawal.
Policy Mortality and Policy Withdrawal applications have been discontinued. This functionality is now accessible in PolicyTermination application with PolTermRsnGrp = Mortality or Withdrawal.
DrillTHrough is now available naturally on all real measures. The separate hidden Withdrawal ExpdRates dimension has been eliminated.
Rate Tables can be set up separately for Mortality and Withdrawal, or for both.
Other custom termination reasons can be introduced to allow studies on other insurance events such as Critical Illness.
For Policy Termination, Claim Incidence, and Claim Termination studies, the study period is defined by starting monthiversary in start month, and ending monthiversary in month following the end date.
For Policy Termination, Claim Incidence, and Claim Termination studies, the month of exit exposure is proportioned by the number of days.
For Policy Termination, Claim Incidence, and Claim Termination studies, a parameter is introduced (iwConfig.CalStdyPeriodFlag) to shift exposures, expected, and actual forward one month where the effective issue date/loss date is greater than 15.
Policy Amounts Change
A new Policy Amounts Change application has been added to calculate increases and decreases in contract premium and contract benefit amounts. To supplement this, ContractPremiumYr, ContractBenefitYr exposure measures have been added to the Policy Amounts Snapshot.
Fund Transaction Rate measure has been added to FundMovement using the exposure measure FundValueYr that has been added to Policy Values Snapshot.
Fund Transaction Type now has 3 additional generic attributes for grouping fund transaction types.
NB and Renewal Expenses Allocated amounts can now be specified by per coverage count or per premium or both. These amounts will be unitized separately per coverage count or per coverage contract premium. Resulting unit factors will be summed to give a single expense transaction.
Multiple unitized transactions can now be created for NBExpense, RenExpense, OthExpense, NII, by adding additional, incremented StdIncomeTypes to srcStdIncomeType table (e.g. NBExpense2, NBExpense3, ..etc), mapping them into AccountIDs in the srcAccount table, and adding additional amounts into the aggregate allocation amounts tables associated with the new StdIncomeType.
External Unitized transactions (calculated by Client) can now be loaded alongside transactions calculated in the Insight unitization processes.
Deferred Ceded Admin Data
For monthly admin loads, ceded admin data can now be loaded later in the month if it is not available for load when the main admin data is available. For ceded amounts, this may require the study processing to be deferred until after the ceded amounts are loaded.
Deferred Policy Values Data
For monthly admin loads, policy values data can now be loaded later in the month if it is not available for load when the main admin data is available.
The date parameters have been simplified to 5 dates, one initial and 4 backcast start (Policy, UW, Reserve and Fund). Other optional or derived dates have been eliminated.
Parameters have been added to avoid loading ceded studies where not required and where ceded admin data is not loaded. Ceded studies can contribute significantly to processing and data volumes but may be unseen and unused.