Photo Credit: You X Ventures
It is a pleasure for ACTBuilder to receive invitation from Actuarial Society of Malaysia (“ASM”) to share our knowledge on Data Conversion System (“DCS”), which is one of the common tools widely used in the actuarial industry in Malaysia. During this sharing session, Lim Chee Beng (Principal Consultant) share the techniques of using DCS to produce model point files (“MPF”) from multiple input files. These MPF serve as input files for Prophet runs.
You may download the slides and sample data files used in this sharing from the sections below.
Notes: The sharing is provided to ASM & actuarial industry on voluntary basis, i.e. without any fees.
What topics to be covered?
The DCS is a supplementary application comes together with Prophet, which converts external data into model point files that can be used by Prophet. The conversion process is controlled by a program which is written using the DCS programming language and functions, which is similar to the extended formulas in Prophet. Data validation and correction facilities are also available so that you can ensure that any inconsistent data is handled correctly during the conversion.
Different from data manipulation programming languages, such as “joining” concept in SQL used by MS Access and Visual FoxPro, DCS adopts a different approach in selecting required fields from different data files. In the event of you need to produce model point files from multiple data files, you would need to identify the data file that you can set as “Main Record” and other data files as “Sub-Record” or “Additional Information Record”. In this sharing, you will learn how these data consolidation methods work in DCS, as well as generating outputs for array variables in model point files.
Slides for ASM Mini Sharing
Please click here to download slides used for this mini sharing.
Sample Data Used for ASM Mini Sharing
Please click here to download sample data used for this mini sharing. Please use the following combinations of data files for each approach presented during the mini sharing:
- Approach 1: Individual data.txt & Group data.txt
- Approach 2: Individual data.txt & Individual data – Acc Bal.txt
- Approach 3: Individual data.txt & Individual data – Rider.txt
The data file structures are as follows:
- Individual data.txt: Policy Number, Plan Code, Initial Sum Assured, Annualized Premium, Premium Frequency & Sex
- Individual data – Acc Bal.txt: Policy Number, Account Balance 1, Account Balance 2, Account Balance 3
- Individual data – Rider.txt: Policy Number, Plan Code (Rider), Initial Sum Assured (Rider). You may treat these riders as unit deducting riders.
- Group data.txt: Master Policy Number, Member Number, Plan Code, Initial Sum Assured, Annualized Premium, Premium Frequency & Sex