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.
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.
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.
