We provide a set of tools that assist in the delivery process of the CLIO system and enable the life insurance carriers to provide quick turn around to their field by providing the ability to modify the product underlying values, testing all calculations, and providing custom options to specific users. The following utilities provide these capabilities:
Rate Utility
The LPS Rate Utility is an easy to use program that a product creator uses to manage the data used by a calculation engine. This data consists of the product rates, charges, loads, and other parameters that govern the product’s behavior. This utility operates outside of the illustration system so that these rates can be modified and easily distributed without delivering the entire system to the end user.
Regression Utility
The Regression Utility is designed to verify all values for both the desktop and Web version of the illustration system and provide summary reports of the results. Once a group of cases are verified, a regression set is saved which includes the input and the baseline results. This provides the ability for future versions to be verified against the baseline. Multiple regression sets can be used to provide a thorough test scenario for an entire illustration system. The Regression Utility provides comprehensive reports for all regression including:
- The Input Summary Report generates a report that contains the input data for all cases in a regression set.
- The Comparison Summary Report provides a synopsis of the specific regression set. It provides information containing the results for each case compared against the baseline in the regression set.
- The Executive Summary Report consolidates the summary information provided in the Comparison Summary Report for the all regression.
Investment Management Utility
- Provides ability to easily add or modify funds that can be used across products
- All fund data resides in an external file that contains all fund charges, fees, M & E , etc.
- Can be distributed independent of a software update
Home Office Utility
The LPS Home Office Utility provides the home office access to various capabilities that enable them to better serve the agent’s needs. Some of the features provided are:
- Customize a product by overriding parameters for a specific time period
- View parameter history