|
Standard |
Extended |
Portfolio |
Component |
User-friendly Model interaction |
| | | |
Clean, well-designed input screens |
√ | √ | √ | √ |
Input screen elements logically grouped by workflow steps |
√ | √ | √ | √ |
Comprehensive user manual with detailed illustrations |
√ | √ | √ | √ |
Data is stored locally; no risk of an online security breach |
√ | √ | √ | √ |
Cost of Insurance Calculation |
| | | |
Reverse engineer COI rates using standard industry algorithms |
√ | √ | √ | √ |
Instant review of COI rates, projected illustration and income statement |
√ | √ | √ | √ |
Universal Life (UL), Whole Life and Term Life products |
√ | √ | √ | √ |
UL Joint Life (Second to Die) policies |
√ | √ | √ | √ |
Universal Life Level, Increasing or Return of Premium death benefits |
√ | √ | √ | √ |
Minimum required annual premium for specified period |
√ | √ | √ | √ |
UL contracts with outstanding policy loans can be modeled |
√ | √ | √ | √ |
Track by Carrier, Diagnosis, Status and other characteristics |
√ | √ | √ | √ |
Optimize Future Premium Payments |
| | | |
Premium projection date any time after illustration date |
√ | √ | √ | √ |
User specified starting policy values and interim premium amounts |
√ | √ | √ | √ |
Loans and withdrawals at start of premium optimization |
√ | √ | √ | √ |
Loans and withdrawals at start of premium optimization |
√ | √ | √ | √ |
Loans and withdrawals at start of premium optimization |
√ | √ | √ | √ |
Policy and Portfolio Valuation |
| | | |
Actuarial present value of future cash flows (premium, death benefit) |
√ | √ | √ | √ |
Separate discount rates for various cash flow components |
√ | √ | √ | √ |
User defined expense structure may be layered onto analysis |
√ | √ | √ | √ |
Specialized modeling features such as owner death benefit retention |
√ | √ | √ | √ |
Multiple life expectancies and discount rates to create sensitivity analysis |
√ | √ | √ | √ |
Support for industry standard and custom mortality tables |
√ | √ | √ | √ |
User-defined mortality improvement factors |
√ | √ | √ | √ |
User-defined mortality durational adjustment factors |
√ | √ | √ | √ |
On-the-fly blending of Select and Ultimate portions of tables |
√ | √ | √ | √ |
IRR may be recalculated based on user-input target value |
√ | √ | √ | √ |
Generate cash flows for thousands of scenarios |
| | √ | |
Calculate individual policy IRRs all policies in one projection |
| | √ | |
Set mortality rates at current age or as a blend of current and next age |
| | √ | |
Reporting |
| | | |
Executive summary of key valuation results – LE, NPV, IRR |
√ | √ | √ | √ |
Annual and Monthly Income Statement for complete valuation analysis |
√ | √ | √ | √ |
Projected policy illustration using optimized premiums |
√ | √ | √ | √ |
Detailed calculation results for comprehensive audit support |
√ | √ | √ | √ |
Detailed Excel based output for easy downstream manipulation |
√ | √ | √ | √ |
Executive summary of key portfolio results – NPV, IRR, CTE |
| | √ | |
Analysis of Risk report highlights areas of portfolio concentration |
| | √ | |
Distribution and standard deviation of Net Present Value and IRR |
| | √ | |
Contingent Tail Expectation analysis |
| | √ | |
Expected and sample scenario cash flows |
| | √ | |
Attribution report shows valuation changes between two portfolio runs |
| | √ | |
Additional Usability and Management Features |
| | | |
Import and Export cases via XML file |
√ | √ | √ | √ |
Data migration from older version of MAPS model |
√ | √ | √ | √ |
Support for MS Access or SQL Server databases |
√ | √ | √ | √ |
Batch processing allows entire inventory to be run automatically |
√ | √ | √ | √ |
Detailed Excel based output for easy downstream manipulation |
| √ | √ | √ |
Database Managers allow quick update to premium, underwriting, etc. |
| √ | √ | √ |
Flexible portfolio import tool loads multiple policies from Excel file(s) |
| √ | √ | √ |
Programmatic access to the policy model engine |
| | | √ |
Customizable integration of the model engine into workflow processes |
| | | √ |