Model Lineage Shows the Model Source and Other Details
Model details now include additional information to help keep track of a model’s source and history. The “Copied From” field shows which model was copied to create the model you’re looking at (source). You can link directly to the original model as long as it has not been deleted.
Model details now also include the “Created On” date and the model folder if applicable.
Option to Not Reset Table Version Numbers on Copy
Users now have the option to reset or not reset table version numbers when copying a model. When copying a Library model, this box will be checked by default. All other models have this box unchecked by default so that you maintain table version numbers from the source model.
Show Nested Table Version Numbers When Comparing Tables
Users will now see the version numbers of nested tables when using the Compare Tables tool.
Fixes
Model copies are no longer failing when model permissions are set to Shared with Specific Users
Projections with over 4000 scenarios are no longer failing validation
When changing an array to Calculated Range Array from any other type, values are no longer being incorrectly reset to ‘0’
Memory issues no longer result in Model Point Results not getting written
Portfolio variables with commas in their name can now be selected as the Scenario Source in a Present Value formula or Yield Curve Merge formula for a product variable
Yield Curve Merge Function and Related Enhancements
Yield Curve Merge
The new Yield Curve Merge function combines two yield curves into a single curve. The feature allows you to apply a variable spread at each point along a yield curve. Yield Curve Merge can be found under the Tables section of the formula wheel.
The Yield Curve Merge function takes in two yield curves and combines them using the specified parameters. You can read more about the Yield Curve Merge function and how to set it up in this support article.
Yield Curve and Scenario Table Data Types for Variables
In tandem with the Yield Curve Merge function, we have introduced new “Yield Curve” and “Scenario Table” data types for variables. These additional data types allow you to create variables that return a yield curve or a scenario table. Variables with these data types can be used in the Yield Curve Merge function and in the Scenario Table Lookup function.
Nested Scenario Tables
We now support nested Scenario Tables in table structures. You can define a Scenario Table column within your table structure and perform a lookup to return a scenario table in a variable. Read more about nested tables in this support article.
Updated Scenario Table Lookup Function
The Scenario Table Lookup function now includes an additional “Scenario Source” parameter to specify the source of the scenario table. You have the option to use the Projection Scenario, a Scenario Table Variable, or a Yield Curve Variable. Read more in this support article.
The Present Value formula also uses the Scenario Source parameter when the Yield Curve rate type is selected.
Fixes
Unknown errors are no longer occurring when validating calculated range array set up for dynamic products
Errors are no longer occurring when using a large number of model point filters then uploading a model point file in a projection
We have released some powerful new tools within High Performance Mode to help with troubleshooting models and improving model efficiency
When a projection is able to run in High Performance Mode, you can now enable “Debug Mode” as well. This option will limit your run to a subset of scenarios and model points, and will automatically enable other projection settings necessary for troubleshooting including Output All Results. Read more about HPM Debug Mode here.
Computation Profiling
Computation Profiling is an option for HPM Debug runs that tracks the computations done across variables within a model. This powerful feature can highlight where the model is doing the most work and pinpoint inefficiencies. Profiling also allows you to see the proportion of work done at each variable level and in the main vs. post projection loops. Read more about Computation Profiling here.
Enhancements
Retain Formula Per Array Value in Formula Builder
Within a variable’s properties, you can now seamlessly switch from a static array to a two-dimensional array without losing the formulas per array value. As long at the original array is one of the two dimensions, you can switch and retain all formuals.
Output Model Point Results for Future Time Periods (HPM)
For projections run in High Performance Mode, you can now output future time period results at the model point level.
Minimum and Maximum Aggregation for Product and Portfolio Variables
When referencing a Product array variable within a Portfolio variable, or referencing a Portfolio array variable within a Company variable, there are now the additional “MIN” and “MAX” options for aggregation.
Fixes
Resolved an issue where duplicate results could get written when hardware failures occur
Column in allocation Model Point File is no longer being ignored when the same inforce product does not have the column
Debug View shows the proper time controls when selecting a Force Recalc variable
Debug View again shows results for Force Recalc non-static array value
Improved error message when scaling a model point field fails during new business/investment due to missing model point field
Projection should no longer fail to start while parsing a large scenario file
Model permissions are now more flexible. Users can enable the “Copy” permission for a model along with other combinations of model permissions. For example, you can grant users permissions for “Copy” and “Model Execution”, and “Model Results”. See this support article for more information on model permissions.
Get Projection Endpoint Returns Configured Data Tables
The Get Projection API Endpoint will now return all data tables configured on a given projection. Additionally, there is a new, optional “Fields” parameter which allows you to filter the top-level fields that get returned. We encourage using this parameter to reduce the amount of data being returned and to make your API calls faster.
Links to Sales Allocations from Projection
You can now link directly to a Sales Allocation from a Projection or Projection Template.
Fixes
The selected virtual folders now remains selected after deleting a projection from the folder
Re-uploading a Scenario file to the same folder no longer changes Rate Type and Interpolation Method
Performance optimization to the Get Projection API endpoint
UPDATE: Important information about new warnings and errors on your models.
On September 25th, we released a new validation feature related to calculated range arrays used in formulas. This validation is designed to prevent users from accidentally projecting range array values that don’t exist at certain time periods. Following the next Slope Library Update (ETA November), these validation warnings will become errors for Cores and HPM Projections. See this post for more information and contact us at support@slopesoftware.com with any questions.
REMINDER: Important information about new warnings and errors on your models.
On September 25th, we released a new validation feature related to calculated range arrays used in formulas. This validation is designed to prevent users from accidentally projecting range array values that don’t exist at certain time periods. On October 23rd, these validation warnings become errors for Cores and HPM Projections. See this post for more information and contact us at support@slopesoftware.com with any questions.
Enhancements
Better Searching in Formula Builder
It’s now easier to find the functions you need in the Formula Builder. We have added several new keywords to help build your formulas faster. For example, looking for the “Minimum” function? Search “Minimum” to find the “Aggregate (Minimum)” function.
Set Specific Module Permissions on a Model Shared with Everyone
For models that are shared with everyone, permissions can now be configured for individual modules (e.g. Model Development or Assumption Management). This granularity allows you to quickly enable and disable access for specific modules for all users in the workspace providing more efficient and granular control.
Aggregate Product Level Range Array Variables at the Portfolio Level
It is now possible to reference a product variable that’s aggregated and uses a product level calculated range array within a portfolio variable.
Additional Enhancements
Searching is now supported in the list of Table Structures so you can type in the name of a table structure to filter down the list.
The selected Table Structure will now show as highlighted in grey in the Table Structure list.
Links to Investment Strategies now show on projections for ease of navigation
Data Table columns in a Table Structure will show the Table Structure name of the nested table on hover
Older versions of scenario tables can be selected in scenario table columns in table structures
Fixes
We are now correctly ignoring non-required model point fields that are set to scale on purchase or sale when issuing new business
Model Point Files are no longer being marked as “not validated” when they are moved in file manager
We are again correctly validating a formula when it has a one dimensional array set in the properties and an invalid reference to Dimension 2 in the formula
We fixed a formatting issue when viewing formulas from the Table Structure Relationship View
Resolved an issue with newly introduced validation that resulted in a temporary result discrepancy on pension projections that used range arrays run on Thursday, September 26.
Please read this important communication as you may soon start to see new warnings and errors on your models.
On September 25th, we will be rolling out a new validation feature related to calculated range arrays used in formulas. This validation is designed to prevent users from accidentally projecting range array values that don’t exist at certain time periods. Today, if you don’t use an array aggregation and you project backwards or forwards in time, you might cause certain array values to be calculated when those array values didn’t previously exist at the referenced time period.
When this validation goes live, you may see some additional warnings in your Cores projections. Initially, these warnings will not prevent you from running your projections. You will have until October 23rd to resolve these warnings. After that, we will enforce these warnings as errors. Note that warnings will only be visible for projections run using Cores, but errors will show in Cores and High Performance Mode.
September 25th: New validation warnings for Cores Projections
October 23rd: Validation warnings become errors for Cores and HPM Projections
Why are there errors in a model that I copied from the Slope Library?
The Individual Disability Income product in the Slope Life Library (versions 2024.03 and earlier) contains variables that use calculated range arrays, project forward or backward, and do not use array aggregation. A new version of the Slope Life Library (2024.10) will be published in October with a modification to the Individual Disability Income product. Once it’s released, you can use the Governance module to merge these changes from the new Slope Library model to your models.
What sort of formula will cause this warning/error?
Formulas that use calculated range arrays and incorrectly project backwards or forwards to time periods where the current array value doesn’t exist may start to see these validation messages.
Example
Below is a section of the Time in Benefit Period End variable formula where the array set in the variable properties is a Calculated Range Array. Today, this setup will not cause an error, but it may calculate array values that don’t exist for a given time period. With the new validation, this will result in a warning, and eventually an error.
For demonstration purposes, if we modify this formula to use a Single Value (Formula) aggregation, we can replicate the behavior of the new validation we will be rolling out. With this set up, if the formula encounters an array value that doesn’t exist at the given time, it will (correctly) error.
What do I need to do in the short term?
When the new validation goes live, you may start to see new warnings on projections run using Cores. We suggest you resolve these warnings before they become errors on October 23rd.
Why don’t I see warnings in HPM?
Warnings are not currently supported for High Performance Mode runs. When the validation begins, you will only see warnings if you run your model using Cores. After October 23rd, the warnings will become errors. The errors will be visible whether you run a projection in Cores or HPM.
If you have any questions, or if you need help updating your model, please reach out to us at support@slopesoftware.com.
The Governance module now allows users to merge multiple arrays at once so that each array does not have to be individually merged. Users can use the checkboxes next to the arrays to merge select arrays or all arrays.
Projection Optimizations
We have made several optimizations to projection runs. First, we are better handling runs with a large number of scenarios and ensuring that projection statuses and scenario statuses are updated accurately.
We have also optimized the “Prepare” step of projections, so that models with large numbers of decrement tables run successfully.
Fixes
Slope now provides a descriptive error message when a projection cannot be duplicated due to the model permissions.
The formula builder is now loading without intermittent slowness or freezing.
Data tables will again successfully import when an account has a significant number of files.
We have introduced a new API endpoint that allows you to update a data table using an existing file.
Workbooks
Customizable Table Styles (Beta)
Customize style and format settings for table, pivot table, and input table elements.
Calculation Columns in Input Tables
Calculation columns allow you to use formulas to populate input table column data. To utilize a calculation column, open the element menu, select Add new column > Calculation, then enter a formula in the formula bar.
Duplicate Input Table Columns
Duplicate columns in input table elements the same way you can in table and pivot table elements. Click the caret () in the column header to open the column menu, then select Duplicate column.
Highlight Rows with {value}
The highlight functionality allows you to quickly identify rows with a common value. Right-click any cell containing the value you want to highlight, then click Highlight rows with {value}. Sigma automatically creates a conditional formatting rule that can be modified or deleted in the Element format panel.
Fixes
We are now correctly showing results of the target variable of a Goal seek with Output All Results enabled
After merging between models, we are now retaining the filtering on the list of model differences
Indirect array references are no longer getting incorrectly merged into variables
Pricing variables across all liability products have been updated to work with a new Pricing Parameters input table that allows for the pricing basis to be set for each run. This includes specifying the basis under which pricing is being run as well as pricing targets.
The pricing variables have been updated to read from this table, but pricing logic is still only supported under US bases in this release. Additional calculation bases will be added in future releases.
Long-Term Care
Added support for benefit pools that have been partially exhausted as of the projection start date. Users can now specify the amount of benefits remaining on a given policy, which will be used to limit remaining benefits projected on the policy.
Corrected the calculation of in-force policy counts to correctly reflect all potential statuses, including continuation of joint benefit pool options.
Corrected an issue with on-claim policies showing an incorrect number of in force lives
Corrected the calculation of LTC benefits for policies with lifetime benefits
US GAAP LDTI
New variables were added to all products to support additional disclosures under LDTI
New discounting logic was added at all levels to support calculation of LDTI under Higher Performance Mode
Variable & Table Renaming
Numerous variables and tables have been renamed across the library to create consistency in naming conventions and provide greater clarity on the scope of the variables.
Other Updates
Inputs to control the method of dividend payments on the Whole Life product were moved to a new Dividend Payment Method table which is now referenced from the Whole Life Plan Code table.
Data Defaults were added to liability products to provide a default value of Policy Counts (1), Plan Code (“DEFAULT”), and Premium Mode (“DEFAULT”). These values can now be excluded from model point files without causing errors.
Variable tags were updated on multiple liability products to ensure complete coverage when utilizing variable tag controls on projections.
US Valuation interest rates were updated through November 2023.
A number of variables with Present Value functions were revised such that the present values are calculated over a time period up until the end of the policy termination rather than a constant 100 years
For Externally Projected Liabilities and Externally Projected Assets, created a new Cash Flow Projection Boundary variable to limit the present value of specific market value metric variables. This variable is currently set to a constant 100 years and will be updated in a future release to allow for more configuration setups.
A number of variables referencing a USD currency were revised to reference an appropriate currency variable such that a user only needs to configure the currency in one place.
Corrected some inconsistencies in the plan code table relating to the benefit periods and maximum benefit ages for some plans codes
Added a few model points to the LTC model point file to illustrate on-claim model points and lifetime benefits
Miscellaneous clean-up in the LTC product variables that do not affect results
Bug Fixes
The initial asset scaling will no longer cause a duplication of assets in the portfolio at time 0.
Excluding Pricing variables on annuity products with the variable tag controls will no longer cause an error.
Monthly lapse rates on fixed premium products (Term, Whole Life, CI, LTC, IDI, and Hospital Indemnity) that lapse at times corresponding to the time of premium payment were corrected to reference the prior year’s annual lapse rates. This change is consistent with the default lapse rate timing to occur at the beginning of the year for these products.
Experience Study Analysis
Experience Study Model
Slope has published a standard library model for performing experience studies. This library includes the following functionality:
Selection and categorization of actual claims/experience data transactions
Construction of expected values and exposure records
Calculation of actual rates, actual vs. expected rates, and credibility analysis
Splits by any data category desired
Experience Analysis Workbooks
Two new workbooks have been added to the Slope System workbooks in the Experience Study folder:
Experience Study Results provides tools to analyze results of the experience study library runs including calculations of actual rates, actual vs. expected values, and credibility calculations. The workbook includes dynamic grouping values to calculate results by age and/or duration groups.
Experience Study Validation provides a framework for running validation analysis across the set of actual transaction and expected data records. This includes data validation rules and statistical information to help analyze the data being processed through the experience study.
New & Updated Workbooks
Asset Purchase/Sale Details
This investment details report provides details on the amount of assets being purchased and sold and how those investments are applied down to the model point level. This report is helpful in understanding how your investment strategies are operating.
LDTI
New workbooks to show results of US GAAP LDTI have been added. These include analysis and disclosure based output.
Bermuda
New workbooks have been added to the Bermuda folder that provide details for the calculation of the Best Estimate Liability (BEL) under the Scenarios Based Approach (SBA).
Indexed Annuity
Indexed Annuity Single Policy Details
Fixed Annuity
Fixed Annuity Single Policy Details
Coming Soon
Additional IFRS 17 validation workbooks
Example design patterns for reporting workbooks to more easily illustrate how to create custom workbooks
