You can now re-run a projection using a new model. This is often done to try and reproduce or compare results after making updates to a model copy. When switching a model, Slope will attempt to map the settings, scenario table, variable scoping controls, portfolios, sales allocations, investment strategies, products and data tables using the name. Learn more here.
Enhancements
Mass Merge Decrement Tables
The governance module now allows users to select multiple or all decrement tables from one model and merge them into another mode.
Miscellaneous
The target model in the governance module will now show the full name upon hover.
Fixes
Assumption sets will again allow the user to view and change the table selected in the assumption set.
Debug view will no longer erroneously show ‘No Result Available’ when a result is available.
Corrected an issue in which an error message was not providing the correct error source for a Calculated Range where the start and end values were matching.
Debug view is now showing products that are not directly configured on a portfolio (e.g. investment products)
A behind the scenes update to data tables was made to improve performance loading data tables, copying models with data tables and running projections with data tables.
Product Aggregate performance improvements have been made to High Performance Mode (HPM) projections to help further reduce runtimes.
Improved performance of Core projections with very large arrays.
Two-Dimensional Array Enhancement
Two-dimensional arrays can now be created with a product level data table array and a product output grouping array.
Fixes
The ‘Always Calculate’ setting is now staying enabled when the ‘Global’ variable setting is enabled.
Switching the static array used in a two-dimensional array is now updating the array value tabs for a formula using the array and set to ‘formula per array value’.
When a variable directly references a two-dimensional array there will no longer be an erroneous ‘Invalid Array Aggregation Type’ error message.
Using a product data table array in a two-dimensional array will no longer result in a projection error.
The Governance module is now detecting different dimensions for two-dimensional arrays.
When the result of a complex array lookup cannot be determined in the debug view, we are again showing ‘??????’.
We have introduced a new Slope Academy video series course “Building Reports in Workbooks” to help users understand the structure of the Slope data model and build reports in Workbooks. You can find the course in Slope Academy in this link.
Updated Slope Life Library
ALM Example
Added an example setup to showcase how a user can set up a run incorporating interaction between assets and liabilities. You can find the following in the Assumptions Development section illustrating this:
Investment/Disinvestment module – several example Investment Strategies and example reinvestment Asset Allocations covering non-callable bonds and equities
A few workbooks that are useful to review for such calculations include: ALM, Portfolio Summary, and Asset/Purchase Sale Details.
For more detailed information on how to utilize investment and disinvestments, please refer to our support site.
Other Updates
Updated Life Onboarding Model to be consistent with 2024.03 Life Library model
Added additional parameters to the Whole Life product to provide additional pre-built logic around different death benefit patterns
Modified several Whole Life product variables and added an additional table “US STAT AG25 Rates” to enhance modeling capabilities around US STAT AG25 for Pre-need products
Renamed all product variables and table columns from Smoker Status to Tobacco Status
Updated all references to Smoker/Tobacco Status to reference a Tobacco Status array, with the status options referencing a limited set of options for consistency across the library model. Different tobacco statuses coming in from user inputs are mapped to this limited set in the “Data Mapping – Tobacco” table.
Updated all references to Mortality Age Basis to reference an Age Basis basis array with possible values Age Last Birthday and Age Nearest Birthday to maintain consistency across the library model.
Indexed Annuity US STAT Reserve can now be set as a choice between the Account Value or Cash Surrender Value
Modified the Indexed Annuity Plan Code table column names to clarify that specific columns are related to US GAAP or US STAT
Renamed specific Indexed Annuity US STAT Valuation Method array values to clarify that their usage is for AG35
“Asset Type” column in the Externally Projected Assets table structure has been split into two columns: “Asset Type” and “Calculate Market Values from Cash Flows?”. Format also moved from integer to a dropdown list with text descriptions for each option to make the options more intuitive throughout the library model.
Portfolio Summary workbook now has an additional field in the tooltip showing total invested assets for the period across all asset products
ALM workbook now has a “View By” frequency control to dynamically switch the results view between Annual, Quarterly, and Monthly periods.
Added minor enhancements and clarifications to the Indexed Annuity workbook around per policy calculations vs. decremented calculations.
Fixes
Company Cash Flow Allocation company variable no longer has the Tax tag, which wasn’t consistent with the current usage of this variable
Added missing US GAAP and US Stat product variable tags to a small number of corresponding US GAAP and US Stat related variables
Externally Projected Asset product variable Time of Maturity now correctly references an optional Maturity Date model point file field instead of product variable “Term in Months”. If this field is not provided in the model point file, Time of Maturity defaults to 1200 (i.e. 100 years from projection start date).
Externally Projected Liability product variable and table structure column “Risk Adjustment” renamed to “Market Value Spread” to avoid confusion with other uses of the term Risk Adjustment. This column’s intent is to specify the spread over risk free rates when calculating market value metrics.
Whole Life product variable “Death Benefit Ratio Guaranteed” now references Issue Age product variable field rather than the model point field, allowing the calculation to work when a user provides Date of Birth rather than Issue Age in the model point file.
Long Term Care model point field Tobacco Status set to not required which is consistent with the design of the library calculations.
Portfolio Summary workbook no longer double counts results in the Invested Assets by Product visual when product output groupings are used in a projection.
New Workbooks
The following workbooks can now be found in the Slope System folder within sub-folder “Liability Products”.
Universal Life
Universal Life Single Policy Details
Whole Life
Whole Life Single Policy Details
Coming Soon
Various onboarding initiatives to make it easier for users to find what they need as well as get up to speed with how to work in SLOPE
Two-dimensional arrays allow users to reference values from two different arrays within a single formula. This allows for the use of a single formula to calculate complex logic that varies by two different dimensions. Two-dimensional arrays help reduce the need for duplicated model logic and maintenance.
To learn how to setup and utilize two-dimensional arrays in your model, please review our support documentation here.
Portfolio Level Calculated Range Array Indexes
Calculated Range Array indexes can now be set using portfolio level variables to allow for more flexibility and minimize the need for extra array variables at the model point level.
A new ‘Portfolio’ option is available when creating and editing arrays. Selecting ‘Portfolio’ allows the user to set a portfolio variable for the indexes or index step.
Enhancements
Validation Updates
The following validation has been added in order to help our customers build and maintain more accurate models. Validation is added to prevent and alert our customers to invalid setups or configuration that could give incorrect or unexpected results.
Variables that contain the ‘Projection Time Index’ system variable must have the ‘Force Recalc’ setting enabled.
Cross level variables contained in a formula cannot reference different arrays (e.g. Product Variable formula references another product variable that uses one array as well as another portfolio variable that uses a different array).
A standard variable cannot reference a post projection variable at another level.
A non-time indexed variable cannot reference a time-indexed variable at another level.
Fixes
Projection list loading times have been improved
When uploading a new version of a file that is being used by an allocation, an error will no longer display.
Output is now being written when an investment strategy errors after trying to sell more assets than are available.
Now showing a descriptive error response on the Post Reports API endpoint when a workbook or element is not found
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.
Previous versions of the Slope Pension Library have been renamed to the “Slope Pension (Governmental) Library” to distinguish and prepare for the public release of the private sector pension plan library.
Fixes
Corrected references to 415(b) limit inputs in global variables so that the table is nested in Plan Definition Table and not a separate reference in the projection inputs
Corrected Annuity calculations to coordinate COLAs during guarantee periods
Corrected the interpolation of missing years of compensation history
Version 2024.01 of the Slope Governmental Pension Library has been unpublished so our users do not mistakenly utilize these invalid setups. If you require a copy of this version prior to the fixes, please contact support@slopesoftware.com.
Fixed the formula setup of two Solvency II-related Company variables (“Solvency II BSCR Modules Without Reinsurance” and “Solvency II Life Sub-Modules Without Reinsurance”) which were flagged as invalid due to recent updates to the model validation features within SLOPE.
Version 2023.12 of the Slope Life Library has been unpublished so our users do not mistakenly utilize these invalid variables. If you require a copy of the version Slope Life Library 2023.12 (prior to the fixes), please contact support@slopesoftware.com.
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
Merge New Investment Strategies and Asset Allocations
Slope will now show Asset Allocation and Investment Strategy adds, changes and deletes and will allow clients to merge new Asset Allocations and Investment Strategies from one model to another. This is done using Compare & Merge Models found in the Governance Module.
This screenshot shows how new Investment Strategies are shown in green and can be merged from one model to another.
Surfacing Relevant Support Documentation on Model Development Pages
When you are in the Models module and click the Resource Center (question mark found in the lower right corner of the application) and select the ‘Help Center’ section, you will now find relevant support documentation surfaced. In the next couple of weeks, you will see relevant support content surfaced for all pages of the support application.
Enhancements
Creating a New Table Structure Now Loads the Data Table on Screen
Now when users create a new table structure, give it a name and click save, they will see the table structure loaded on screen so they can immediately beginning editing and adding columns.
Fixes
The default value rows when a data table is used as a data table array are now being excluded so that the debug view shows the expected result.
Resolved an issue in which the second instance of a dynamic product was being processed statically.
Terminated model points are now being filtered from target value match and pro rata investment strategy rules.
Filtered pro-rata investment strategies will no longer fail when there is a backup sales step.
The copy model page should now consistently load without requiring a page refresh.
Images from support documentation are now loading properly within the Resource Center found in the lower right corner of the application.
Validation will no longer incorrectly force variables referencing non-time indexed variables to be set as time-indexed.
High Performance Mode post projection variables will no longer fail due to an incorrect missng array value.
