One of the most important elements in setting up variables within Prophet is the use of Indicators. While many users are familiar with defining formulas in the Variable Definition section, the role of Indicator Expressions is often underestimated — despite being critical to how Prophet selects and applies variables in different products.
Prophet Modelling Technique (6): Indicators Read More »
When we talk about the basic unit of a product in a Prophet model, many might instinctively think of policy features, benefits, or input files. But technically, a product is a collection of selected formulas — which, in Prophet, are known as variables.
Prophet Modelling Technique (5): Variables Read More »
Before IFRS17 came into the picture, it was common (and perfectly reasonable) for Prophet users to use the same Prophet model for both monthly valuations and business planning exercises. But with IFRS17, the landscape has changed significantly.
Practical Guidance: Streamlining Prophet Models for IFRS 17 Reporting (5) Read More »
Performing calculations at the Insurance Cohort Group (“ICG”) level requires high level of granularity in the IFRS17 calculations. What many actuarial teams fail to realize is how quickly this buildup can affect not just file size, but also run time and overall system performance.
Practical Guidance: Streamlining Prophet Models for IFRS 17 Reporting (4) Read More »
With the right modeling setup, you can automate how Prophet reads assumptions for runs under Analysis of Change (“AOC”) steps — allowing you to control whether the model applies previous or current assumptions for each AOC step, without manually preparing multiple table sets.
Practical Guidance: Streamlining Prophet Models for IFRS 17 Reporting (3) Read More »