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Accelerating Your Model Development
Model Templates
While Mo.net's unrivalled ease of use allows new clients to quickly develop their own modelling solutions from scratch, many customers like to get up and running as quickly as possible. To help we offer a rapidly-expanding selection of basic model templates that cover a range of territory-specific products, features, projections, and regulatory requirements. These templates enable an accelerated implementation of modelling solutions for product pricing, regulatory reporting, decision support, ALM and risk management. For some applications it may simply be a case of attaching the template to existing policy and assumption data sources. The templates also offer a reference point for developers wishing to develop best practice modelling techniques.
An extended range of premium model and country-specific templates is available through our model development partners.
Whatever your model template requirements, please get in touch and we will endeavour to help accelerate your implementation.
Sample Projects for UK Products & Applications
The following sample projects are available to all licensed users of the Mo.net platform and to those undergoing a product trial. Most project templates are now available directly from within Mo.net Model Development Studio. The remaining projects can be downloaded from the Download Centre.
The following features are included in the model:
- Life Basis can be single life, joint life first death or joint life last death (all lives are assumed to be alive at the valuation date)
- Single premium or level regular premiums (which can be paid for the term of the policy or for a reduced term)
- Sum assured can be level or decreasing
- Mortality can vary by smoker status
- Allowance for other life specific risk factors by an age adjustment or mortality multiplier
A range of product features for term, whole of life, pure endowment and endowment products, including:
- Single, Joint life 1st death, Joint life last death
- Level Regular premiums (payable for whole term)
- Level lump sum death benefit - may be different to survival benefit
- Level amount set at outset, not necessarily equal to the death benefit
- Refund of premiums (without interest) less time dependent surrender charge
- Survival and death benefit prorated by proportion of premiums paid
A range of product features for term, whole of life, pure endowment and endowment products, and including core IFRS17 calculations, such as the Contractual Service Margin (CSM):
- Single, Joint life 1st death, Joint life last death
- Level Regular premiums (payable for whole term)
- Level lump sum death benefit - may be different to survival benefit
- Level amount set at outset, not necessarily equal to the death benefit
- Refund of premiums (without interest) less time dependent surrender charge
- Survival and death benefit prorated by proportion of premiums paid
The following features are included in the model:
- Life Basis can be single life, joint life first death or joint life last death
- Single premiums only
- Level and escalating annuities (fixed or linked escalation)
- Annuity payments can be made 1,2,3,4,6,12 times a year and can be paid in advance or in arrears
- Guarantee period – annuity continues in payment with or without guarantee overlap (i.e. on the death of life 1, the 2nd life annuity can be paid at same time as guaranteed annuity)
A range of product features for unit-linked endowment products, including:
- Single life
- Single premium, Level Regular premiums and paid-up policies
- Level lump sum death benefit - may be different to survival benefit
- Level amount set at outset, not necessarily equal to the death benefit
- Refund of premiums adjusted for charges less time dependent surrender charge
A range of product features for unit-linked savings products:
- Single and joint life
- Single premium, Level or increasing regular premiums and paid-up policies
- Death benefit expressed as a % of the unit fund values
- Regular withdrawal options and auto-stop of withdrawal when reserves reach a specified minimum
- Subset of unit fund choices
A range of product features to model credit life products:
- Single and joint life
- Single premium, Level regular premiums and paid-up policies
- Benefit as loan amount or loan amount +10%, either decreasing or not as loan is repaid
- Varying loan term, payment frequency and interest rate
- Unearned premium reserve
Sample Templates for International Products & Applications
The following sample projects are available to all licensed users of the Mo.net platform and to those undergoing a product trial. Some project templates are now available directly from within Mo.net Model Development Studio. The remaining projects can be downloaded from the Download Centre.
Sample Takaful Model with the following features:
- Uses the Wakalah model i.e. Takaful Operator receives a percentage of contributions as fees to manage the business
- Underwriting surplus arising in the Risk Fund is kept within the fund until maturity
- Contributions less wakalah fees flow straight to the Participants Risk Fund (PRF)
A sample project that illustrates the cash flow of funeral plan policies.
- Policyholder details are the input for the model and the output is the net present value
- Various parameters can be changed to perform scenario analysis, sensitivity analysis and stress testing
- Multiple lives are handled separately in the Life Model and then brought together in the Funeral Model
Partner Templates for UK Products & Applications
The following commercial project templates are available from our UK model development & delivery partners. Please contact us for more information.
The following features are included in the model:
- Conventional products (term, whole of life, endowment), including with-profits
- Includes Net Premium method
- Template pricing, deterministic and stochastic reserving models
- Ability to shock assumptions from standard solvency II model and create others
The following features are included in the model:
- Covers many unit-linked projections
- Different growth rates, charge profiles and per product
- Allocation rates and surrender rates can vary by time in-force
- Ability to shock assumptions from standard solvency II model and create others
The following features are included in the model:
- Annuity products projected to end of mortality table Annuity products projected to end of mortality table including guarantee periods, spouse benefits and a number of increases.
- Template pricing and deterministic models and can also run stochastically
- Ability to shock assumptions from standard solvency II model and create others
The following features are included in the model:
- Model deals with data from multiple sources (asset managers and templates)
- Produces results for all market stresses on assets
- Produces template information for SII QRTs in correct format
- Extremely fast - several thousand assets in just a few seconds
Example model on how an asset projection could interact with a liability projection month-to-month
Calculates future benefits for defined benefit pensions for use in bulk annuities, transfer values and redress calculations.
The following features are included in the model:
- Includes income protection products using dynamic sub-models to project sickness benefits
- Ability to shock assumptions from standard solvency II model and create others
This module is designed to fit alongside any of our other models to take stressed results for SCR & risk margin