SLOPE’s integration with Snowflake allows clients to directly access their results data in a secure environment without having to copy, move or reconstruct data (ETL). For more information on this integration, please reach out to your account representative.
IMPROVEMENTS
New Array Value (Numeric) Dimension in the Analyze Module
Model Point, Product, Portfolio and Company Explores now have a new “Array Value (Numeric)” dimension in which Array Values are converted to a numeric value so these results can be sorted in numeric order on dashboards.
CHANGES
Mortality Tables have been renamed “Decrement” tables.
This change is to provide a more comprehensive description of the tables created and edited in this section including the addition of Improvement Scales in a future release.
FIXES
Formulas in large models will now save more quickly.
The Academy Interest Rate Generator will now generate a file when variable rates are not configured on the Economic Scenario Structure.
Projection scenarios are no longer erroneously showing as failed while still running.
Lapse Rate Tables updated to be by Issue Age and Policy Year by default on all products
Externally Projected Asset Product Updated to use a central lookup table to support multiples types of EPAs in a single run
Gross Premium Calculation Method lookup moved to Run Settings table to more easily allow switching between in-force and pricing runs
New Dashboards
A new ALM Dashboard is available in the System Dashboards > Portfolio folder
Coming Soon
The next library release will include support for several major new pieces of functionality including:
US GAAP LDTI
IFRS-17
Solvency II
Bermuda Solvency Capital Requirements
Extra testing effort is being put into this release to ensure that all this new functionality works well with the Library. We are currently targeting a Q2 2022 release.
Our product development team is hard at work in this new year to bring you all some great new features in the coming months. While several large initiatives are still in the works, we will continue to provide monthly updates on enhancements and fixes in the meantime.
IMPROVEMENTS
Variable Properties Update
The variable properties pane (top), will now automatically save and validate property changes without requiring the click of a save button. This makes it easier to edit the properties and formula simultaneously as clicking save is now only necessary for formula edits.
Information Security Testing and Certification
We’re currently working on our SOC 2 and ISO 27001 certification with anticipated completion in the first half of 2022. While you won’t see changes to the interface as a result, it’s worth noting we’re dedicating time to rigorous testing and undergoing formal certification to demonstrate our commitment to maintaining first rate information security.
FIXES
When a single percentage value is pasted into a cell in the table editor, it will be properly converted to a decimal.
Copying and pasting a single value in the table editor will no longer clear out data in the columns that follow.
Not a number and infinity errors will now be displayed in Run Logs.
You can now generate economic scenarios using the C3 Phase I Interest Rate Generator from the American Academy of Actuaries and SOA without having to leave the SLOPE application. In-app generation for 12 and 50 standard scenarios is supported with a monthly, quarterly or annual time step.
IMPROVEMENTS
Projections
To allow for greater flexibility on annuity contracts in which valuation rates are specified daily, the Projection Start date can now be any date in the month and is specified as a day, month and year. Time period zero will still occur at the end of the month.
SLOPE API
Example scripts are now available in Java for the Slope API on our GitHub repository available here. The Projection Patch Error messaging has also been updated to explain when the delimiter does not match the file type.
Table Editor Improvements
The data table version on a table that was copied from an existing table will now be reset to version 1 for the new copy.
Percentages from excel can now be pasted directly into the new table editor without reformatting
Additional Improvements
The time period and variable will now reflect the lowest level of information in the run logs for Single Value (formula) variables set to warn.
The current Projection Time record has been added to the Force Recalc Results tables so that all force recalculation results can be viewed in a single table.
The Slope filters displayed above a Look in the Execute module will now update when the Looker filters are added or removed and saved within the Look.
FIXES
When a data column is added to a table structure and the associated data tables do not have data in the new column, that column will read like an empty result.
Range array index performance improvements have been made.
Deleted Data and Mortality Tables will now display in historical versions of tables only.
Slope has an updated table editor that now supports in-application editing of up to 100,000 rows and offers greater keyboard support more consistent with excel.
The new editor’s right click context menu offers common actions such as inserting rows and copying and pasting.
A few specific improvements of the new table editor include the ability to:
Select entire rows/columns by the header for easier copying and pasting.
Undo, redo, copy and paste using the right click menu or keyboard shortcuts.
Insert rows into the middle of a table.
Extend cell selection with shift arrow shortcuts.
Check and uncheck actions for boolean fields.
Please note that rows are no longer added in the lower right hand corner of the interface. Instead you can use the left click menu to insert a row or copy and paste multiple blank rows into your table.
Default Values in Data Tables
Empty index values are now valid in the data table editor and will be treated as a default. Clearing out the value in an index field will display the <DEFAULT> label. When the values you are looking up match those specified in the index columns, the values in the matching rows will be used. When the values you are looking up don’t match those specified in the index columns, the rows with default values will be used. This allows you to define a standard value or set of values in non-index columns using <DEFAULT> and then define specific exceptions.
In the example below, you will see that by default, a commission rate of .05 will be applied unless the plan code and issue year combination matches one of the other specified lookups.
IMPROVEMENTS
Economic Scenario Generator
You can now continue to use the SLOPE application while your economic scenarios are generating in the background. Additionally, we have added the ability to generate up to 10,000 scenarios with a monthly time step to the Academy Interest Rate Generator.
Economic scenario files that are in the process of being generated, will show in grey on the Economic Scenario Table list.
Looks in the Analyze Module
Now when you load a look in the Analyze module, the projection ID will automatically be set to the projection you selected.
Additional Improvements
The 1st “Duration (in months)” label in Annuity Factors was updated to “Annuity Length (in months) for clarity.
Projection Start Date was added as an option in System Variables and can be used in place of DateOf (Time 0).
FIXES
Fetching Treasury Rates is now retrieving rates following an update by the US Treasury.
Duplicate options were removed from the System Variable drop down.
Referencing “Current Array Value” within a Time formula will now consistently return the correct array value.
Merging Array variables that reference table structures from the Slope Library (e.g. Collateral Adjustment variable in the Asset Backed Security product) will now properly merge the Array variable and map the table structure.
When selecting Products, Portfolios and Projection Templates to include in a model copy, Slope will automatically include the necessary Data Tables and Mortality Tables with the new “Auto-Include Required Tables” toggle enabled.
Upon click of Create Copy, a new confirmation modal will list all of the selected entities, files and automatically included data and mortality tables that will be included in the copy.
Analyze: Looks for Automated Projection Results
Looks are now available in the Analyze module and allow clients to save a data query with filters and visualization for reuse on multiple dashboards. Looks have been added to the Analyze module so that API clients can retrieve the raw results data file for the Look via the API. To pull the raw data file for a Look, create the look in the interface and pass the Look ID into the POST Reports/Looks endpoint.
The Look ID needed for the API can be found in the top left corner of the Look.
Looks can be created using the + button found on the Your Looks and Shared Looks sections of the left hand rail. Looks can also be created from existing Dashboard Tiles by clicking “Explore from Here” found under the context menu (three dots) and then clicking edit and saving as a Look.
For clients not using the API, Looks can still be used within the Analyze module as reusable dashboard components. When the Look is updated, all Dashboard’s that contain the Look are also updated.
IMPROVEMENTS
Projection and Template Updates
Projection templates can now be created from projections so that once the desired settings and inputs for a projection are finalized, they can be turned it into a template for future runs. This functionality is available under the new, consolidated Actions menu found in the top right corner of a projection.
Data Tables that are referenced by variables excluded by tags in a projection no longer need to be configured to run the projection. These tables which are unnecessary to set due to the variable(s) referencing them being excluded will now appear in an “Unused Tables” section and selecting a table for the structure will be optional in the event the table is indirectly referenced by a variable that is not excluded.
API Updates for Valuation Automation
Added table name and version to the Patch Projection endpoint so API users can specify which table to update using table name as an alternative to Data Table ID.
Added the version number next to the latest version of data tables in the SLOPE interface so that it is easy to identify the version number for the API.
Separated the Scenario Tables endpoint into POST and PATCH endpoints for the creation and updating of Scenario Tables.
Created a Github repository with sample API Scripts in python available here.
To learn more about the SLOPE API, visit our FAQ page.
Additional Enhancements
Slope Library Models are now available as a source for merging for efficiently merging changes and updates into working models.
Model Compare is now identifying changes in before/after investment timing selected on Product Aggregates.
Product Aggregate Results (Grouped) explore now returns all results when filters are empty.
FIXES
The ID column has been added to the grouped list view of projections found in the Execute module for consistency with the ungrouped view and to align projection metadata (e.g. Model Name) under the proper header.
A data table loading issue has been resolved.
Single Value (Formula) variables now reference dynamic array values from the correct time period.
The economic scenarios you know and trust from the American Academy of Actuaries and SOA’s ‘Academy Interest Rate Generator (Version 7.1.202105)’ can now be generated without having to leave the application. SLOPE provides in-app generation for up to 1,000 scenarios with a quarterly, semi-annual or annual time step.
Upon generation, your ready-to-use economic scenario file can be found in both the File Manager and Economic Scenario Tables within your model. Additional information on how to create an Academy Interest Rate generated scenario can be found on our support site here.
Please note that generation may take a few minutes for larger scenario sets such as that shown below.
Defaults for Single Value (Formula) Array Aggregates
SLOPE now allows users to specify a default value when a Single Value (Formula) Array Aggregate does not match any values in the array. When ‘Ignore’ or ‘Warn’ is selected for ‘On Failure’, a default value can be specified.
Slope Library Models
The Slope Life Library will now be published in a copy-only format under a new Library Models tab within Model Development. This will ensure that clients always have an unedited version of the library models available for copying. All future versions of the Slope Library will be made available here along with Version 2021.8 and 2021.3.
Exclude Variables by Tags
Specific variables can now be excluded from being calculated using variable tags. This offers increased control over the scope of projections and run times. A common application for this feature is to exclude variables for a specific accounting basis (e.g. US GAAP). Previously the application supported the inclusion of specific variable tags only.
At the top of projections, you will now see an ‘Included Variable Tags’ and ‘Excluded Variable Tags’ section.
Model Point File Filters on Projection Templates
Users can now add Model Point Filters when adding products to projection templates making it easier to run and re-run a subset of your policies. This functionality that was available on projections has now been added to templates.
IMPROVEMENTS
Added Table Name and Version to the Patch Projection endpoint on the API so tables can be specified with ID or Table Name.
Index formulas will be preserved when switching table references in a table formula when the index column names on the tables match.
Products can now be added to both projections and projection templates without a model point file so you can select your file at a later time.
Increased the vertical height of the Explore view in Analyze and added a handle for window resizing (lower right corner).
Added a scroll bar to the Table Structure list.
Snapshot descriptions can now be modified after snapshot creation.
FIXES
Upon adding a product to a new projection, the Data Tables section will now load without requiring a page refresh.
SLOPE will now prevent users from entering invalid characters in the Excel file name when creating a Data Table.
Dynamic array portfolio variables are now working properly with product aggregate output groupings.
The Slope API now covers full valuation workflow automation so clients can increase valuation reporting cycle efficiency. Interested clients should speak with their account representative to learn more.
CHANGES
‘Output Variable’ property has been split into two unique settings.
To give users more granular control of their projection runs, we now have ‘Output Variable’ and ‘Always Calculated’ settings.
The ‘Output Variable’ setting indicates if the variable is output to the reporting module during model execution. This setting should be unchecked for intermediate calculations that do not need to be used for reporting to aid with run time performance.
The ‘Always Calculated’ setting should be unchecked if you wish to skip calculating this variable when it is not referenced. Previously, all product and portfolio aggregate variables were always calculated even if they were not directly referenced by another variable.
IMPROVEMENTS
Economic Scenario Enhancements
When using the New York 7 Economic Scenario Generator, you can now pull the US Treasury rates for a given start date from the SLOPE interface with the click of a button.
Economic Scenarios can now be downloaded directly from the Economic Scenarios Tables screen so that you don’t have to navigate to File Manager to download.
Users can now run a projection without a scenario file if none of the variables contain a Scenario Table Formula or Present Value
Investment Strategy Enhancements
Investment strategies can now be copied so existing strategies can be used as a starting point rather than creating all new strategies from scratch.
Users can now view older versions of investment strategies from sales and asset allocations views. Older versions are available in read-only mode.
Additional Improvements
Dates can now be used for Min/Max array aggregation so that you can get the earliest or latest date from a set of array results.
Updated labels on Product-related entities across the site to provide clarity (e.g. Model Development → Model → ‘Products’ button updated to ‘Product Definitions’).
Split Mortality Tables into their own section on the Inputs Used Page for clarity.
Updated the following to sort in alphabetical order:
Drop downs found within the Confirm Merge modal
Tags within the variable filter drop down
Mortality tables on the Mortality Table Detail screen
FIXES
Goal seek formulas now automatically calculate the target variable without requiring ‘Always Calculate’ to be set.
Arrays that recursively reference themselves will produce the correct output.
Time Index controls now properly update when switching between Force Recalc variables on the debug view.
Formula validation errors now consistently display upon load of a variable with errors.
Invalid date format errors in file-only tables now have a descriptive error message.
The Change Management UI will now display the different names and versions of model point files in the comparison pane.
Support for Secondary guarantee calculations was added to the Universal Life product
New functionality was added to all Bond products (Non-Callable, Callable, Sinking Fund, and Floating Rate) to allow for the initial par value or credit spread to be solved for upon issue for reinvestment assets
US STAT And US GAAP Variable Tags were updated on all products and portfolios for consistent coverage
The Cash Flow Start Time variable on all Products was updated to point to centralized Cash Flow Start Time at the Company Variable level for ease of updating
Commonly used pricing metrics were added to All liability products and a new Pricing variable tag was added to these calculations
Fix to Sinking Fund product factors
Policy Count roll-forward variables were added to all Liability Products
Reinsurance Tables and logic were updated to add support for minimum retention limits and excess reinsurance
A new Run Settings variable was added to the Company level to control high-level functionality across the entire Library
Fixes
All Present Value Formulas across the Library were updated to use the time periods to be more efficient
Market Value calculations for Mortgages and Sinking Fund Bonds were updated to correctly reflect the impacts of prepayment assumptions
The Number In Force variable on the Sinking Fund Bond was updated to remove the sink percent which was previously resulting in double counting of cash flow reductions in the market values of this product
A new formula is available in the formula builder, which allows users to check for an empty/blank value. The formula returns a boolean true/false value.
The new option is available in the Utility Functions sub-menu.
Example usage to detect if a model point’s plan code is empty. Use this within a condition block to perform different behaviors given the existence of a value.
New York 7 Scenario Generator
Users can now generate NY7 scenarios directly within the SLOPE application!
New “Generate” option available in the Scenario Tables area within Assumption Management.
Generator inputs. The result of the generation will be a full scenario table with an associated file.
Scenario Files – Support for Yield Curve Spot Rates
We’ve added support for users to supply Spot Rates in their scenario files. This new option is available under the “Rate Type” control on the economic scenario structure configuration within Model Development.
Application Programming Interface (API)
We’ve improved granularity and control over file management within the API.
IMPROVEMENTS
Projection validation now runs asynchronously, which allows the page to load more quickly and users to track the validation process.
Nested data tables now contain links in the latest version of the table in addition to historical versions of the table.
Performance improvements around backend validation processes.
Improvements have been made around caching of front-end code for performance and stability.
FIXES
Fixed an issue where product aggregate level results were sometimes unavailable for statically run products.
Deleting a column now properly updates newly versioned tables that were versioned as a result of the change.
Fixed ability to add new rows in the table editor to tables that contained nested mortality tables.
Missing model point files on allocations are now caught by projection validation.
Changing the product when editing a projection product no longer results in an error.
Fixed downstream issues caused by converting Sell steps to Buy steps and not clearing the rule filters.
Array variables can now be referenced from withing the ‘Default Value’ formula configured within IRR calculations without causing errors.
Range Arrays can now be properly merged via the UI.
