Point-In-Time Overview

Point-in-Time valuation allows valuation calculations to be made using values from the last valuation date, rather than from inception. When Point-in-Time valuation is not enabled, Traditional valuation is used. In this method policy valuation calculations are made using all data from the inception of the policy. Traditional valuation is much more resource intensive than Point-in-Time, since each valuation activity must be recalculated every time valuation is executed.

In order to generate data records for a policy activity valuation, the system stores the beginning and the ending valuation values for deposits, funds and policies. Configuration includes a record to access the activity's beginning and ending values for each deposit, fund and policy. The system stores all ending valuation data regardless of money movement affecting the fund / deposit value. With this feature, an activity's beginning valuation always starts with the ending valuation of the prior activity.

Important   When using the Debugger, the deposit effective date is the date when the depositing activity applied money to the fixed fund.

Converting from Traditional to Point-in-Time Valuation

Plans that are configured to use Traditional valuation may be converted to use Point-in-Time valuation, provided that the fund types are supported. At present, Point-in-Time valuation supports all fund types except Unit Linked Variable funds.

A special utility is needed to perform the conversion. To request this utility, go to My Oracle Support at https://support.oracle.com and file a service request. A support specialist will facilitate the process.

Important   Prior to configuring Point-in-Time valuation, ensure that basic fund valuation is already fully working in the environment. Funds, allocations and assignments must already be set up and configured before attempting to enable Point-in-Time valuation.

Once a plan is configured to use Point-in-Time valuation, it cannot be transitioned back to Traditional valuation.

Point-in-Time Valuation Configuration

A plan is configured to support Point-in-Time valuation when the following two steps are performed.

  1. Valuation must be defined at the plan level. This is done when a new plan is created using the New Plan editor. Existing plans can be updated using the Plan Maintenance editor. The Point-in-Time valuation field on both editors must be set to Yes.

  2. WriteValuationElements business rule must be configured. This business rule limits the amount of valuation information that is written. Existing valuation fields can be written to the system and are divided into sections: Policy, Fund, Deposit, and PolicyValues. Inside of these sections the available elements are from a set list. The only exception is the PolicyValues section, which can be configured to access any variables from the PolicyValues business rule. CopyBooks may be used in this rule. The rule can be overridden by plan.