2015-10-07-奥纬咨询-Getting_the_Most_out_of_AXIS,_Volume_3_12页_259kb

AXIS Newsletter Summary - Fall 2015

This newsletter highlights key upcoming structural changes in the AXIS software ahead of the 2016 release, introduces a new Flexible Scenario Format, and discusses implementation support features.

Upcoming AXIS Structural Changes

Change #1: New AXIS Cell Structure

• Planned release in early 2016
• Actuarial assumptions (e.g., lapse, mortality) will be organized into "Assumption sets" defined at the Cell level
• Drivers: Regulatory requirements (IFRS/GAAP) and demand for increased assumption flexibility
• Business Impact:
  • Simplification opportunities for existing models
  • Models split due to previous limitations may be consolidated
  • Preparations needed for DataLink processes
• Preparation Recommendations:
  • Assess models simplification opportunities
  • Determine upgrade timeline considering new structure
  • Notify users and familiarize with new system in 2015

Change #2: Cell Tags

• New feature to be added in 2016
• Provides structured approach to Cell definition and documentation
• Addresses limitations of the 40-character Cell name convention
• Business Impact:
  • Enhanced model transparency
  • Improved peer reviews and validations
  • Simplified model sharing
• Preparation Recommendations:
  • Evaluate existing mapping methods
  • Review index-based naming functions (will be disabled)
  • Map Seriatim data systematically
  • Collaborate on naming conventions

Flexible Scenario Format

• New implementation introduced in AXIS 2013.04.01
• Supports unlimited market variables and user-defined columns
• Key improvements:
  • Multiple yield curves
  • Unlimited equity indices
  • Flexible user-defined columns
• Provides support for complex modeling needs including:
  • Principles-based valuation
  • Hedging strategies
  • Embedded option pricing

Case Study: Implementing AAA ESG in AXIS

Demonstrates integration of the Academy Interest Rate Generator with the Flexible Scenario Format. Shows how:

• Economic scenarios are generated using variable mapping
• AIRG parameters are calibrated
• Stochastic market simulation is implemented
• Post-processing handles scenario output

Recent AXIS Improvements

New Dollar Cost Averaging Functionality

• Version: 20151202
• Allows definition of DCA patterns in annuity module

Enhanced System Log and Viewer

• Version: 20150602
• Additional columns for log details
• Filtering capability
• Export options
• Ability to view saved files

Technical Implementation Notes

• Recommended approaches for implementing Flexible Scenario Format
• Considerations for mapping tables to scenarios
• Scenario Generator and Scenario Set configurations
• Software version compatibility
• Parameter calibration procedures

Key recommendations include standardized adoption across organizations, early preparation, and attention to mapping methodology.