Enhancements

“Copy Only” Model Permissions is now “Copy”

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 25^th, 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 25^th, 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 23^rd, 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 25^th, 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 23^rd 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 25^th: New validation warnings for Cores Projections

October 23^rd: 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 23^rd. 

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 23^rd, 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.

New

Academy Interest Rate Generator

The 2024, 2023, and 2022 versions of the Academy’s Interest Rate Generator are now available in Economic Scenario Generation.

Enhancements

Additional Settings for Internal Rate of Return Formula

Users can now configure a maximum number of iterations, seed values, and tolerance within the IRR formula.

Additional Enhancements

• Links to Table Structures now show on projections for ease of navigation
• Various enhancements to HPM stability and performance

Change

Scenario Tables on Projections have moved! Now configure your scenario table with the other tables in your projection.

Fixes

• Data tables are now being versioned correctly after deleting or updating a decrement table, improvement scale, or scenario table
• Scenario tables are again showing in run projections after being deleted
• Better error handling when array lookup fails due to a blank table value
• We now show specific validation when a scenario file does not contain the scenario number in the filter

Enhancements

Mass Merge Arrays

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.

API

Update Data Tables API Endpoint

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

Updated Slope Life Library

Pricing 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
• Projection comparison workbook(s)
• Example ALM setup

New

Set Default Value for Empty Model Point Values

You can now set a default value for fields in your model point file definition. If your model encounters a row with missing data, it will apply the default value provided for that field. A default value can be provided on required and optional model point fields.

Enhancements

Import Any Age in Decrement Table or Improvement Scale

You can now import any integer value as an age in decrement tables and improvement scales. We previously limited ages to 120. The 120 age limit still exists in the interface but can be altered by importing a file.

Persist State of Projection Folders

When you have projection folders expanded, collapsed, or selected, that state will be retained as you navigate across the site and even when you log out and log back in.

Ordered Yield Curve Columns in Scenario File Template

When exporting a scenario file template, yield curve point columns will be in order of duration rather than the order they were entered in the template. Scenario files generated using scenario structures will also be ordered by duration.

New API Endpoints: Get Table Structures and Get Data Tables

We have introduced two new API endpoints. One endpoint returns the all table structures for a given model ID, and one endpoint returns all data tables for a given model ID.

Fixes

• References to global company variables from within product variables no longer improperly run the product dynamically
• Array values for range array variables and force recalc variables are again being properly written to results
• Changing a table structure column type between Index and Data works without error
• Inserting and pasting inside aggregate formulas no longer results in an invalid formula structure
• Goal Seek no longer results in infinite loop when time of target is different than time of goal seek
• Commas in Table Structure column name no longer result in errors