Business Area: Wealth Management – Finance Business Area
Client problem: Industrialisation of code was required so that scripts can be run by someone with very little SAS / Enterprise Guide knowledge.
- New scripts created by APS to supply actuaries with assumptions for model input including anti-selection information and sum assured reduction.
- APS replaced current Excel process with a SAS scripts to combine data from many sources into one data file.
- Set up mortality look-up table that uses a combined smoker status. Previously non-smoker was used for certain products that don’t have smoker status information.
- Document processes with detailed Process Notes and Data Dictionaries, centralize programs to one project folder.
- Programs set up in Enterprise Guide with prompts for user input. This removes the need for any code changes.
- Formats automatically updated in the code so that user doesn’t need to i.e. persistence period would have to be updated at the start of each Q3 period, now the code generates this based on current date.
- Many tasks can now be run by a junior team member with little or no SAS knowledge.
- Sum assured reductions equate to 2% of policies lapsing.