Next, you will want to determine the cohorts of pricing that you want to look at. Pricing cohorts let you see results for subsets of the total population being priced. For example, you may want to see results split by Gender or Smoker Status in aggregate. This requires multiple pricing cells to be grouped together and for results to be summarized across the group.
In SLOPE, this is done by setting up Output Groups on the products, which allow the user to segment results by a number of Product Variables. To segment results by Gender and Smoker Status, we need to create new Product Variables for Gender and Smoker Status.
To add a new variable, click on "Add New" above the list of Product Variables. A new window will open, allowing you to add a new variable named Gender.
To create the Gender variable, (1) click the Formula Component Selector, the orange circle in the center of the screen, then select (2) the Formula Type of Variable, then select (3) the icon for Model Point File.
Click on the dropdown menu which contains a list of the available Model Point fields and select Gender. Finally, click on the orange Save button at the bottom of the page.
The process can be repeated to create a new variable Smoker Status.
Output Groupings are set globally on the Product Detail screen. To navigate to this page, click on the "Go to..." button on the right hand of the page and select "Products" from the dropdown menu.
To add a new Output Grouping, click on the "Add Grouping" button at the bottom of the page.
A window will open allowing you the ability to select up to 4 Product Variables to include in an Output Grouping, with the option of adding a Name for the Output Grouping. (Note that the list in the dropdown menu will display a comprehensive list of all variables that are contained within any of the Products with the Model. As our model only contains only the Whole Life product, the list will only reflect the Product Variable names for that product. Click the Save button when completed.)
After you save the output grouping, it will appear in the list of available groupings.
Once the results cohorts have been set up, the next step is to set up the projection template that you will run. We will also explore more about how to use the results of these groupings for reporting purposes later in this guide.