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dcolleoni merged 3 commits into from
Oct 26, 2022
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Overview texts #53

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bb53eb5
Overview (Template), revised text
UMueller1 Oct 20, 2022
4aeb8e9
Reports of template with small adjustments
UMueller1 Oct 20, 2022
a62b64b
Overview IFRS17, some adjustments
UMueller1 Oct 20, 2022
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19 changes: 14 additions & 5 deletions full-ifrs17-template/OverviewIFRS17Template.ipynb
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"source": [
"# Introduction",
"\n",
"\nThe Systemorph's IFRS 17 Calculation Engine is a solution to conduct all the essential IFRS 17 calculations based on some key input: modeled future **cashflows** and actual amounts, for a **groups of insurance contracts** and other relevant parameters (Yield Curve, Fx, etc...). The output is a set of calculated results (CSM, Loss Component, Financial Performance, etc...) that are needed for IFRS 17 reporting, analysis, accounting, steering and other management information.",
"\nSystemorph's IFRS 17 Calculation Engine is a tool and a solution to conduct all the essential IFRS 17 calculations based on some key input: modeled future **cashflows** and actual amounts for **groups of insurance contracts** and other relevant parameters (Yield Curve, FX rates, etc...). The output is a set of calculated results (CSM, Loss Component, Financial Performance, etc...) that are needed for IFRS 17 reporting, analysis, accounting, steering and other management information.",
"\n",
"\nSystemorph's Full IFRS 17 Template provides a complete example of input data and uses the Calculation Engine for the production of IFRS 17 results. Users can adapt this template to their own needs by changing the input data and calculating their own results.",
"\n",
"\nThis notebook provides an **overview** of Systemorph's Full IFRS 17 Template with brief introductions to all the main steps."
]
Expand All @@ -41,6 +43,8 @@
"\n",
"\nIFRS 17 is a new accounting standard for insurance contracts. The previous standard IFRS 4, which is based on nominal accounting, is replaced by the economic accounting standard IFRS 17.",
"\n",
"\nExplanatory **videos** on **IFRS 17** and a **demo application** can be found on Systemorph's website. Some key points are repeated here briefly.",
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dcolleoni marked this conversation as resolved.
"\n",
"\nIFRS 17 deals with insurance contracts which are on the liability side of the balance sheet. Other accounting standards deal with other parts of the business, primarily IFRS 9 for invested assets.",
"\n",
"\nInsurance policies need to be allocated to homogeneous groups of insurance contracts (GICs) according to high-level principles established by the IFRS 17 standard, such as contract type, line of business, annual cohort etc. Insurers have some degree of freedom to optmize those GICs, as long as they respect the high-level principles.",
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"\n - Contractual Service Margin (CSM) and Loss Component (LC)",
"\n - Liability for Remaining Coverage (LRC)",
"\n - Liability for Incurred Claims (LIC)",
"\n - Financial Performance",
"\n - Accounting Events"
"\n - Financial Performance"
]
},
{
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"\n",
"\nThe structure of the [Actuals](./InputFormatDescription#actual), [Openings](./InputFormatDescription#opening) and [NominalCashflows](./InputFormatDescription#cashflow) files is explained in a special [notebook](./InputFormatDescription).",
"\n",
"\nThe less usual option of having discounted instead of nominal cash flows in the input is also supported."
"\nThe less usual option of having discounted instead of nominal cash flows in the input is supported, but not a subject of this notebook in its current state."
]
},
{
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"<a id='reports'></a>",
"\n# Reports",
"\n",
"\nThe production of reports is done by a notebook such as **[Reports](./Report/Reports#report-production)**."
"\nAll the reports are produced by running a notebook such as **[Reports](./Report/Reports#report-production)**. Some information on the reporting functionality can also be found there and in the final Reports section of [OverviewIFRS17](../IFRS17/OverviewIFRS17#reports)."
]
},
{
"cell_type": "markdown",
"source": [
""
]
}
]
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14 changes: 10 additions & 4 deletions full-ifrs17-template/Report/Reports.ipynb
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"\n<a id='report-production'></a>"
]
},
{
"cell_type": "markdown",
"source": [
"This is the notebook to be run for the production of all the reports."
]
},
{
"cell_type": "markdown",
"source": [
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"source": [
"# Use cases",
"\n",
"\nFor demostration purposes we import data for 7 *Group of Insurance Contract* (GIC) and 4 *Group of Reinsurance Contract* (GRIC). ",
"\n<br> Data set consists in cashflows, actuals, and parameters.",
"\nFor demonstration purposes we import data for 7 *Group of Insurance Contract* (GIC) and 4 *Group of Reinsurance Contract* (GRIC). ",
"\n<br> The data set consists of cashflows, actuals, and parameters.",
"\n",
"\n"
]
Expand All @@ -121,11 +127,11 @@
"source": [
"# Present Value",
"\n",
"\nPresent values of the best estimate of future cashflows are shown here in an Analysis of Change report.",
"\nPresent values of the best-estimate future cashflows are shown here in an Analysis of Change report.",
"\n",
"\nThe report view can be modified with the Slice options for the columns by changing the <code>SliceColumnBy</code> inputs in the next command cell.",
"\nFor example one can add <code>\"GroupOfContract\"</code> to separate the contributions of the individual Group of Contracts.",
"\n<br> We suggest to add this slice between the <code>\"LiabilityType\"</code> and the <code>\"EconomicBasis\"</code> as the the order of the inputs corresponds to the order of the columns shown in the report to expand the data.",
"\n<br> We suggest to add this slice between the <code>\"LiabilityType\"</code> and the <code>\"EconomicBasis\"</code> as the order of the inputs corresponds to the order of the columns shown in the report to expand the data.",
"\n",
"\nAggregated values are displayed when the data has a finer granularity than the one selected by the report slice options."
]
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14 changes: 8 additions & 6 deletions ifrs17/OverviewCalculationEngine.ipynb
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{
"cell_type": "markdown",
"source": [
"<p style=\"font-weight:bold;\"> <span style=\"font-size: 36px\"> IFRS17 Calculation Engine - an Overview</span> </p>"
"<p style=\"font-weight:bold;\"> <span style=\"font-size: 36px\"> IFRS 17 Calculation Engine - an Overview</span> </p>"
]
},
{
"cell_type": "markdown",
"source": [
"# Introduction",
"\n",
"\nThe Systemorph's IFRS 17 Calculation Engine is a solution to conduct all the essential IFRS 17 calculations based on some key input: modeled future **cashflows** and actual amounts, for a **groups of insurance contracts** and other relevant parameters (Yield Curve, Fx, etc...). The output is a set of calculated results (CSM, Loss Component, Financial Performance, etc...) that are needed for IFRS 17 reporting, analysis, accounting, steering and other management information.",
"\nSystemorph's IFRS 17 Calculation Engine is a tool and a solution to conduct all the essential IFRS 17 calculations based on some key input: modeled future **cashflows** and actual amounts for **groups of insurance contracts** and other relevant parameters (Yield Curve, FX rates, etc...). The output is a set of calculated results (CSM, Loss Component, Financial Performance, etc...) that are needed for IFRS 17 reporting, analysis, accounting, steering and other management information.",
"\n",
"\nThis notebook provides an **overview** of Systemorph's IFRS 17 Calculation Engine with brief introductions to all the main steps.",
"\n",
Expand Down Expand Up @@ -76,7 +76,7 @@
"\n",
"\nThe IFRS 17 calculations are based on a well-defined **data model**. The data input files are set up according to the data model, and the data import and all the ensuing calculations up to the final report generation respect the data model.",
"\n",
"\nThe IFRS 17 calculations start by importing data input files, and the more complex logic of the IFRS 17 Business Logic is defined in the [ImportScopes](./Import/ImportScopeCalculation#import-scope-calculation) notebook. This basis will later be used to calculate and generate different reports."
"\nThe IFRS 17 calculations start by importing data input files, and the more complex IFRS 17 Business Logic is defined in the [ImportScopes](./Import/ImportScopeCalculation#import-scope-calculation) notebook. This basis will later be used to calculate and generate different reports."
]
},
{
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"\n",
"\nThe [input files](#data-input-dim-nodes) ReportingNodes and especially DimensionsAndPartitions provide an overview of data structures actually used. Some dimensions are hierarchical, so some entries have parent entries.",
"\n",
"\nMany abbreviations and acronyms used later in the documentation and the code are the **system names**, where the corresponding display names can be found together with the attributes."
"\nMany abbreviations and acronyms used later in the documentation and the code are the **system names**, where the corresponding display names can be found in the corresponding input files together with the attributes."
]
},
{
Expand All @@ -104,7 +104,9 @@
"\n",
"\nHowever, the import as such is conducted by other notebooks which use the methods of ImportStorage and ImportScopeCalculation in a chain of notebook imports:",
"\n",
"\nImportStorage --> ImportScopeCalculation --> [Importers](./Import/Importers#importers) ",
"\nImportStorage --> ImportScopeCalculation --> [Importers](./Import/Importers#importers) --> [InitSystemorphBaseToMemory](./Initialization/InitSystemorphBaseToMemory#init-base-to-memory) --> [InitSystemorphToMemory](./Initialization/InitSystemorphToMemory#init-base-to-memory).",
"\n",
"\nThe latter two notebooks initialize and store the imported and derived data in memory for further usage. To store the data in a physical database, [InitSystemorphToDatabase](./Initialization/InitSystemorphToDatabase#init-to-database) can be employed.",
"\n",
"\nThe calculations of ImportScopeCalculation cover a large part of the IFRS 17 methodology and are explained in the section below."
]
Expand All @@ -115,7 +117,7 @@
"<a id='model-calc'></a>",
"\n# IFRS 17 Model Calculations",
"\n",
"\nThe notebook **[ImportScopeCalculation](./Import/ImportScopeCalculation#import-scope-calculation)** has all the calculations to be executed upon data import. The methods used are explained there with formulas. The centerpiece is the Analysis of Change (AoC) of the insurance business over one period (here: quarter). The formulas often use acronyms (system names) as explained in the [section](#data-input-dim-nodes) on *DimensionsAndPartitions*.",
"\nThe notebook **[ImportScopeCalculation](./Import/ImportScopeCalculation#import-scope-calculation)** has all the calculations to be executed upon data import. The methods used are explained there with formulas. The centerpiece is the Analysis of Change (AoC) of the insurance business over one period (here: quarter). The formulas often use acronyms (system names) as listed in the input file *DimensionsAndPartitions*.",
"\n",
"\nThe main concepts and parts of ImportScopeCalculation are listed here, with links.",
"\n- Structure and sequence of the **[Analysis of Change (AoC)](./Import/ImportScopeCalculation#aoc-step-structure)** steps for the given period",
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