This document provides a summary of changes that have taken place between the v8.6 release and the previous release (v8.5).
Functionality
Joint Life Functionality – Policy Termination only
Joint First and Joint Last rates are calculated for up to 5 lives. Each joint life is modeled as a separate coverage which should have identical status and termination reason group. The Policy Termination study is based on the primary life for calculating exposure, actual and expected. Joint Life attributes (JointLife, JointNumber, JointOrder) have been introduced to facilitate joint analysis. Joint life functionality can be calculated at policy and coverage level if required.
If Coverage changes from Joint N to Joint M (N,M = 0,1,2,3,4,5, N <> M, 0 =Single) then the study will be fully recalculated on the new joint status. If a single life record is erroneously entered as Joint Life in srcCoverageJoint, to correct this, it must be subsequently entered into the table with no additional lives.
Contagion Factors have been added to iwConfig table by number of lives to allow for lack of independence between lives.
Two Source ETL widgets have been introduced. The first calculates the Joint Life attributes from srcCoverageJoint. The second calculates the srcClaimAge from srcLossDate and srcClaimBirthDate.
Mortality Improvements – Policy Termination only
Calendar year changes in mortality etc. can be applied as the overall factor to the base expected rates. Within each expected rates table and termination reason, the factors can vary by gender, smoker, issue age and duration.
Life Year Attained Age – Policy
The Attained Age calculation has been modified to be either on a Policy Year basis (more commonly used in North America) or a Life Year basis (more commonly used in Europe). This is done using the srcBirthMthOffset attribute.
In order to allow rates applied on a life year basis, Policy Termination and Claim Incidence Expected Rates have been modified to be applied by AttainedAge and Policy Year.
Underwriting age adjustments are now allowed for in the srcBirthMthOffset attribute rather than as a separate attribute, the corresponding dimensions have been removed accordingly.
Life Year Attained Age – Claim
AttainedAge functionality has been introduced on the Claim on a Claim Year or Life Year basis. This is done using the srcClaimBirthOffset attribute.
In order to allow rates applied on a life year basis, Claim Termination Expected Rates have been modified to be applied by Attained Age and Claim Year.
A Claim Age Duration dimension has been introduced with Claim Loss Age (previously ClaimAge on srcCLaim), Claim AttainedAge and Claim Duration Loss. This dimension is also available in the Claim Movement and is directly comparable to the Policy/Coverage Age Duration.
Net Amount at Risk – Policy Termination Only
A separate NAR Benefit has been introduced for the NAR calculation, which will allow the Policy Termination to be calculated on up to 3 different volume measures (in addition to contract counts and contract benefit amount).
IBNR Applications
The IBNR Adjusted Studies for Policy Termination and Claim Incidence have been set up as separate applications showing just the ExpdAdj and Exposure measure groups.
These are called PolicyTerminationRptd and ClaimIncidenceRptd.
Cube Connections
The underlying SSAS cubes now have connections in the Data Connection Library and can be directly accessed. These cubes will show all measure groups and all measures and are particularly useful to power users building reports using PerformancePoint. The application cubes are still available.
Performance and Design
ProductBasis Restructure
ProductBasis has been restructured to have a separate field for each study, and to have a separate load flag for records to be included in the study. The “Lastest” Study Group values are now included to enable full testing of expected rates calculation.
ExpdRates Process Restructure
The expected rates load processing structure and logic has been redesigned in order to enhance load performance. The ExpdRates jobs have been modified to include dynamic processing on change in Study Group (ProductBasis) which previously required a manual reprocess.
Default Policy/BaseCoverage
The policy and base coverage dimensions have been modified to be optional. Previously a policy (and base coverage) record was required, even if not necessary as in study only implementations say. This will make future study only implementations more efficient in terms of data storage.
Data Audits
The Data Profile functionality processing time performance has been improved. The profile statistics are now additive and meaningful across SourceID. Additional dimensions of Non-populated field and Null field to allow filtering within the report.