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