Updated Experience Study Library 2024.05 and Documentation

We have published a new version of the Experience Study Library Model, named “Experience Study 2024.05”, which includes the following updates and fixes:

Updates

Can now filter inputs by status codes in addition to Plan and Policy IDs
Added a full set of generic rate inputs for Claim Incidence in addition to the existing mortality and lapse rate inputs. This can be used for any measurement of claims incidence rate such as disability or other policyholder election rates.

Fixes

Fixed calculations that sometimes resulted in slightly more/less exposure being attributed to a policy year in leap years for policies issued in the month of February.
Corrected an issue in the conversion from annual to monthly factors for mortality and lapse rates.

Additional Documentation

Additionally, we have published three new articles for Experience Studies on the Slope support site:

New Bermuda BSCR Workbook

A new “Bermuda Capital” workbook has been published to show the details of the Bermuda Solvency Capital at a Company level.

This workbook is available in the Slope System workspace under the Bermuda folder.

Note that this workbook does not yet support additional requirements from the Bermuda Consultation Paper dated July 28, 2023 (CP2). An updated version of this workbook will be published alongside upcoming updates to the Life Library to calculate these additional requirements.