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.
Guide 2: Limit Prophet Runs into 2 Runs, i.e., Opening Run & Closing Run As companies move beyond IFRS 17 implementation and shift focus to streamlining their actuarial processes, one area that often requires attention is the Analysis of Change (“AOC”) calculations. These calculations are critical in IFRS 17 reporting, as they provide insights into
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.
