In reality, many of the underlying cash flow structures—such as premiums, benefits, and expenses—are largely consistent across product types and reporting regimes. This means that the base model used to generate projected product cash flows can and should be designed as a unified model, capable of supporting multiple views through flexible logic, control structures, or reporting configurations.
In many of our conversations with Prophet users, the topic of sub-product codes, or SPCODE, often surfaces—particularly when discussing model structure and output interpretation. While SPCODE is a standard part of Prophet’s model point setup, how it is used can significantly impact both model flexibility and the range of analyses it can support. In this
In our engagements with valuation teams using Prophet, we’ve observed that most users are confident with in-force projections—such as those required for monthly valuation or embedded value reporting. However, when it comes to new business (“NB”) processing, many find the setup and logic less intuitive.
With the release of Prophet 2024 Q4, users may have noticed a notable enhancement in variable handling—the ability to define variables using enumeration types, in addition to the conventional number and text formats. This seemingly modest update introduces a practical tool that can significantly improve model clarity and coding efficiency.
