To create your first projection template, navigate to the Assumption Management Page by clicking "Define" at the top of the page. After clicking on the Projection Templates button, you will see a list of projections (currently empty, if you've been following this guide).
Click on the "Create New Projection Template" button. We'll call our first template "My First Projection Template". Let's set the Projection Start Year to 2019, the Projection Start Month to December, and the Projection Period to 240 months. Feel free to add any description you like, then click the Save button.
After a few seconds, you will automatically be brought to the page for My First Projection Template. Start by clicking the "(Edit)" button near the top middle of the page. It's next to a series of settings and will open an interface that will allow us to change these settings.
For the Scenario Table, let's select "NY7 2019-12-31". The box next to it controls which scenario numbers are run; let's fill in a 1, for now, to indicate that we only want to run scenario number 1 from this file. Click the Save button to continue. The rest of the settings in this interface are explained in the Projection Inputs.
Next, let's add our portfolio. Click on the "Add Portfolio" button.
For Portfolio, select "Inforce Portfolio". This automatically populates the Name as well. The rest of the settings refer to the dynamic investment and sales process, which is explained in greater detail in the Investment Strategies article. We will leave these set to "None". Click the Save button.
Next, we will need to add the Products that we want to run as part of this Portfolio. To do this, click on the Add Product button at the bottom of the portfolio section.
We will add 4 products to this projection template:
- Non-Callable Bond
- Commercial Mortgage
- Term Life
- Whole Life
For each new that you add, select the Non-Callable Bond product. For the File, select your copy of "My First MPF.xlsx" that you made in the previous section, Import Your Data. Alternatively, you can download it here. If you haven't already uploaded this file, click "Add new file..." and navigate to it first. For the Excel Sheet Name, select "NonCallable Bond MPF". You can ignore the Output Grouping and Model Point Filters section for now. Click the Save button to continue.
Repeat this process for the remaining 3 products, selecting the appropriate Product and Excel Sheet Name for each. It should now appear as in the following image.
If you want to make any changes to the product configuration, you can do so by hovering your mouse over the row for the corresponding product and clicking the Edit icon that appears on the right side of the row.
The last section on this page is the Data Tables, at the bottom of the page. Each data table structure used by the model must have a selected data table. Click on the edit icon in the upper right side of this section.
Now, select the following Data Table for each row.
|Table Structure||Data Table||Version|
|Asset Assumptions||Standard Assumptions||Latest|
|AVR & RBC Factors||AVR & RBC Factors 2018||Latest|
|Commission Rates||My First Commission Rates Table||Latest|
|Default Rates||2016 Moody's Default Rates||Latest|
|Gross Premium Rates||Library Gross Premium Rates||Latest|
|Lapse Rates||Life Product Lapses||Latest|
|Life RBC Factors||2018 RBC Factors||Latest|
|Mortality Tables||Mortality Table Lookup||Latest|
|Plane Code Table - Life||Plan Codes||Latest|
|Policy Expenses||Library Expenses||Latest|
|Portfolio Parameters||Library Portfolios||Latest|
|Pricing Parameters||Default Pricing||Latest|
|Run Settings||Asset-Liability Run||Latest|
|Starting Balances||Starting Balances Default||Latest|
|Stat Val Lapse Rates||VM-20 Shock Lapse Rates||Latest|
|Stat Val Mortality - Life||Life Insurance Mortality||Latest|
|Stat Val Rates - Life||Life Valuation Rates||Latest|
Finally, click the Save icon in the upper right corner of this section.
Now that your template is complete, it's ready to run in our next section - Run a Projection.