Prophet Data Conversion System
Before any modelling process is run, the necessary data, in the form of tables or model point files, must be collected and formatted. The Prophet Data Conversion System (DCS) is a Prophet module that acts as a data cleanser and concentrator, collecting data from a wide range of source systems, validating it, enriching the data content by adjusting and transforming it, and finally grouping it to reduce the data volume passing through the Prophet calculation engine.
Prophet DCS produces model point files for use within Prophet Professional or Prophet Enterprise from your own company policy data, as well as tables which can be further processed by Glean, an experience analysis and data mining tool and part of the Prophet actuarial modelling solution.
- Reduction in the number of errors raised during model runs due to higher quality input
- Acceleration of the set up and execution of model runs
- Consolidation of data with grouping allowing insurers to reduce significantly the numbers of model points being processed by using a 'representative' sample
- Ability to audit the process with a trail that keeps track of the changes made to any data as it is transferred to the model point file (including any grouping operations).
Read more in the datasheet here.