Assumptions conversion tool is a tool that can manage all your assumptions in an automatized process. It offers you a complete list of all assumptions, the management of their versions, and also conversion into different formats for your model. The conversion from the model into Excel tables for easy data management such as preparation of reports, charts, actual analyses, development, or backtesting is not missing either.
This tool is a VBA-based tool in MS Excel, and the main functionality is the conversion of assumptions into FAC format used in the the actuarial software Prophet. Conversion to the other formats is available too, if needed.
The tool offers:
- the automation of input data and governance of this process
- the easily customized conversion to the other formats required for any actuarial engine or data management system
- the coverage of any table type o any assumption or parameters used in the actuarial models. (Based on the type of input the output is predefined and can be further customized which is useful for future updates of actuarial software.)
- the inclusion assumptions about mortality, morbidity, lapses, expenses, discount curves, inflation, investment returns and other economic variables, tax rates etc. Any type of parameters such as product parameters, commission rates, schemes, parameters of policyholders' options and guarantees, Solvency 2 parameters etc.
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